Well done Zhenga - another brilliant deal for him. I've got shares in SMA, which also got into BTC mining through a JV with Zhenga and one of his companies, so MEJ technically isn't the first company with interests in BTC mining listed on the ASX. SMA has gone down in value since it got into BTC mining about 6 months ago. Scrutinise this deal thoroughly guys. What capital will need to continue to invest in upgrading computing power, what energy cost to run that ever expanding computing capacity. From what I've read about BTC mining as more people try to mine BTCs, so the difficulty of mining BTC's becomes higher, so the computing power and cost goes up as more BTC's are mined. I think the only one who will do well out of this deal is Zhenga. I lost most of my investment in this company when it was VIL, and hate to see new investors taken for a ride in its new incarnation.
MEJ Price at posting:
4.8¢ Sentiment: None Disclosure: Not Held
