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I don't think they knew what they were doing as far as mining was concerned
Mining is a tough business for miners who have been doing it a long time
Most of Swan executives have a finance background
Max Keiser is an investor and board member/advisor
The company had too many people on payroll that were non essential
I volunteered at their conference last year and met a lot of non essential staff
I say non essential because they are not miners or developers or whatever
the company seems like a large meetup for southern California
You're probably right. Mining is super risky, but saying this now right before a massive bull run? IDK
True about the staff not really being "needed". I thought they weren't really paid much and received equity in the company instead.
what they should have done was buy, sell and auction hashrate
This way you can make money from mining w/o having to buy ASICs
Probably but I don't know.
Is there any info on their mining operations? Which pool were they using?