Colorado Mining Companies LLP, Partner Update
January 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).
Partner Capital Contributions
NOTE: please read this section carefully, it is quite important at this time.
There is a balance in timing about when to accept Capital Contributions and when the funds are needed. Ask for funds too soon, and then the gap is too wide for when Distributions begin. Ask for funds too late, and when funds are needed for equipment, opportunities are missed and the gap widens for when Distributions can begin.
I hope we have struck a balance, but we are currently just a little bit on the shy side of timing for the amount of funds we have on hand verses the purchases that need to be made this month (Jan). Buying in bulk, economies of scale, is our friend and benefits us all.
The two weeks of Christmas and New Years when people were off from work and spending time with family has had a minor impact on fund raising/giving the Partner Presentation. Now that the Holidays are past, we are back in the grove and presenting at a good pace.
We continue to give the Partner Presentation and continue to sign up new Partners. We have a pipeline of people who have seen the presentation who have not yet committed; people scheduled to see the presentation; and people on a list that we have not reached out to yet.
Some of the Partners have pledged to add to your initial Capital Contribution. Please provide those pledged amounts more sooner than later as we are entering the thick of things with equipment purchases.
Also, it would be very helpful if each of you could provide two referrals. Referrals are great credibility extensions to people with which the Managing Partners have no direct credibility (or contact). Thank you very much in advance.
Electricity, Immersion Cooling, and Miners
The electrical supplier provided their list of equipment, and that info has been incorporated into the Electrical Engineers CAD drawing. The CAD drawing was sent to the electric companies Design Team on December 20th. Once the electric company Design Team approves the CAD drawing (2nd week of Jan?) we will proceed with the purchase of electrical equipment, order the 2nd container from Submer, and begin ordering miners. All of these actions put timelines in motion for a planned start of mining in late May or mid June.
As required by the electric company, we have also hired a surveyor to perform an easement survey. The survey process consists of three phases. The first phase of the survey has been completed and provided to the electric company.
Website
Our website is live! https://ColoradoMiningCompanies.com
Partner logins are not yet configured. We will also be adding an FAQ section soon.
The website is a long term marketing tool to attract additional Partners which will be especially important for Phase 2 where we plan to purchase land, erect buildings, and obtain many many (undefined at this point) megawatts of power.
Site Preparation
We have begun to look at options for footings to place the containers on and also cement pads for the transformers and meter boxes and such.
Final Thoughts
Bitcoin price action is in a choppy sideways pattern right now. I am actually really happy about this because if Bitcoin was moving upwards hard and reaching new highs, this would drive the cost of miners up sharply. So for now, miner prices are reasonable, but this advantage will not last.
I like where the Partnership is at right now. We have a solid plan and are executing well. We have the right expertise but are also learning and building our knowledge base. We are slightly shy on funding, but only to the extent that we may not be able to fully take advantage of economies of scale; not to the extent that we can’t proceed and be successful.
Thank you. I am extremely grateful to our Partners. We as a Partnership are doing something amazing, something that many people only dream of. We are making it happen, together.
Regards,
Mark
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