Colorado Mining Companies LLP, Partner Update
February 10, 2022
This report will be provided to you monthly by the 10th of each month to keep you informed of Procurement Gap Exceptions to monthly Distributions. Of course, initially as we get electrical infrastructure ordered and put in place, we anticipate Procurement Gap Exceptions to monthly Distributions until about May or June. As a rule though when we start mining and the 25% Reinvestment of Monthly Revenues kicks in, this will create a permanent Procurement Gap Exception; so, this monthly Partner Update will become a permanent communication device for our Partners and will be posted to the private Partner login section of our website (not yet configured).
Electricity
Over this past month there has been a lot of coordination with the electric company’s design team and the owner of our warehouse location as we worked through some iterations for the layout of equipment. A good deal of time was spent maximizing the placement of equipment on the lot across from the warehouse. This included the placement of up to 8 containers. As we worked through this process minor, but time consuming, changes were made to conduit and connector runs between our first two containers, electrical panels, and the transformers.
As we all came to an agreement on equipment placement, the electric company agreed to support us in the future with additional main transformers. At this time is looks like we will be able to expand into an additional 9 million watts of power, for a total of 12 million watts. The owner of the warehouse is fully on board with this future expansion. This is great news.
(3 millions watts per two containers full of immersion tanks and miners).
After one heck of a process, our Electrical Engineer and Electrician have placed the order for our electrical panels and secondary transformers from their supplier. We should know in a few weeks the exact timeline for delivery (Covid supply chain effects).
This progress triggers the need for the surveyor to complete the second phase of the survey; once submitted the electric company will send us the installation contract within three weeks. After we sign the contract, the main transformer will be installed in 6 to 10 weeks.
Network
We have ordered and received five Cisco network switches that are for our first container. All the switches will be programmed with military grade hardening for maximum network security.
Miners
Bitmain is our manufacturer of choice for miners. Over this past month, as anticipated, they announced the delivery dates of new mining hardware. This timing is going to work out very well for us. As other commercial miners begin to receive this new mining hardware (only available via pre-order by well-established mining companies with deep pockets), the used market will become flooded with very capable miners at great prices. We are keeping an eye on this; lead times for used miners are only 2 to 4 weeks.
Timelines
We are still on track to begin mining in late May to early June.
Regards,
Mark, Maria, and Lelend
Managing Partners
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