Timeline Graphical Comparison

The Timeline on the Miner One website has been altered numerous times in recent months and no longer resembles what it looked like when it was originally posted, neither of them portray what really ended up taking place.

Timeline from White Paper

2018

Feb:                 Crowdsale Starts

Apr 1:              First Equipment Order

Mid-Apr:          Exchange (I assume this means exchange ETH for FIAT)

Mid May:        Crowdsale Ends/Facility Prepared for Operations/ Second Equipment Order

Mid-Jun:          First Equipment Delivery/ Electricity Upgrade

Early-Jul:         Mining Starts

Mid-Jul:           B-Wallet App/iOS and Android App

Aug 1:              First Payout/Miner One Dashboard

Mid-Aug:         Second Equipment Delivery

Early Sept:       Miner One Debit Card

Actual Timeline

November 2017

December 2017

January 2018

February 2018

February 15 2018 12:00 GMT
Crowdsale starts with various discount offerings for buying in sooner, rather than later.

March 2018

March 3 2018
CEO reports on a successful trip to China with visits to Bitmain, Ebang, and Canaan, each of which is willing to offer significant discounts.  Reports that he will be in Sweden the following week to “finalise contracts with landlords and builders”.

March 10 2018
CEO reports on outcome from Sweden trip.  States he was signing contracts for construction and installation, signed a building contract with the landlord, met with 3 construction companies (GLB, Naiden Bygg, HO Allbygg), and met with Lulea Energy to finalise contract for 15MW. Also mentions EiTECH as an electrical contractor, Lunet as an internet provider, and two electricity providers (Nord Pool and NASDAQ OMX).  Also announced that work on the building begins next month, almost 7 Million MIO sold, and over 4000 investors to date.

March 12 2018
Miner One email states, “We are not putting miners in caves or containers…. Those kinds of projects can be very exciting. But they also entail a much higher risk of failure.

March 27 2018
Miner One email states over 8,200,000 MIO Tokens sold

March 29 2018
Miner One email states over 9 million MIO Tokens sold

March 30 2018
Pranas states that they will be surveying the community on a decision to make the first equipment order per the timeline or to wait a few weeks to get better pricing deals “as hardware prices continue to fall and ETH recovers from this month’s lows.”  Also states there are over 4500 token holders,

April 2018

April 3 2018
Miner One email with survey attached regarding delaying the first equipment purchase.  Explanation is that funds were locked until the Small Cap mark was met (email states this as 4.7 million MIO sold; White Paper says 2 different things- 3M MIO or $3M USD worth of MIO) and that when that mark was met, ETH was below $400.  The poll was to get the investors’ opinion on buying equipment immediately or waiting a few weeks to see if the prices recovered.

April 6 2018
Miner One email states over 10,000,000 MIO Tokens sold

April 14 2018
Email from Miner One announcing partnership with Bitcoinus stating MIO Tokens will be integrated into its crypto payment platform.  Also announces nearly 11M MIO Tokens sold.

April 16 2018
Email announcing “Space Miner One”, their plan to launch a capsule 35,000m and mine bitcoin from the edge of space.  Abbas Ali Khan identified as the winner of 1000 MIO Tokens and a souvenir bitcoin medallion.

April 20 2018
Email regarding ETH rebound to $570.  States that the recent survey showed majority support for letting ETH rebound before purchasing miners.  “If ether’s recovery can be sustained, the timing may be just right to make a move within the next few weeks.”  A second email that day announces that Miner One has submitted applications to OKEx, Bitfinex, HitBTC, Biboxm and ZB.com.

April 22 2018
Email announcing a “Country Competition for Round 6 of token sales.  Also state that over 12M MIO tokens have been sold.

April 24 2018
Email announcing Space Miner One will launch at 9:30GMT

April 25 2018
Email announcing delay to Space Miner One due to high winds

April 27 2018
Email claiming that Entrepreneur names Miner One as One of the Top ICOs You Must Invest In.  This is promoted content (i.e. Paid Ad), not an actual article.

April 30 2018
Space Miner One launch.

May 2018

May 2 2018
Email stating that Yahoo! Finance covers Space Miner One.  Article was actually from Digital Trends and picked up by Yahoo Finance.

May 7 2018
Email stating France was the winner of the country competition.

May 11 2018
Email from Pranas.  On track to start mining by this July and payouts in August.  Stated he will be submitting the first order by the end of May.  Also contains a survey regarding location options. Does not divulge the location, but promises to provide a detailed, side-by-side comparison of the 2 locations.

May 12 2018
4 days left in crowdsale, more than 13M Million MIO Tokens sold.

May 15 2018
“Miner One Inks Payment Card Partnership with Tokia”  Tokia wallet will allow investors to automatically claim payouts and be linked to a Miner One Card that allows for the withdrawal of funds.  Second email states that with the market rebound, they are recapturing most of the value of what was invested.  States “Mining equipment orders go in this month.  June is for set-up.  Mining starts this July and payouts by August.”

May 16 2018
With 6 hours left until crowdsale ends, states more than 13M MIO Tokens sold.

May 21 2018
Announced crowdsale results.  Crowdsale ran from Feb 15 – May 16.  Soft cap of 3000 ETH (different number than previous email and white paper) raised in the first week.  More than 13M MIO Tokens sold.  Mining to start in July, first payouts in August.  Grand total expected by week’s end.  Miner prices are falling (some by half as much).  Miners will be ordered by end of May.  Second order will be placed when 7nm ASIC become available (expected in 2-3 months).

May 23 2018
Email stating dramatically lower ASIC Miner prices are good news for MIO holders.

May 28 2018
MIO Tokens will be unlocked and tradeable by end of the day.  Will hold off on listing on exchanges until after delivering first results to avoid speculative pump and dumps.

May 30 2018
On video released this day Pranas announced the idea to switch to containers for housing the mining hardware at around the 5 minute mark.

May 31:           8213 ETH raised (approx. $4.7M USD).  16,734,685 MIO Tokens generated  (18% allocated to management)  Unsold tokens were burned.  Announced the decision to use containers (385 S9s in each at 600 kW).  Still maintains that Lulea is the preferred location, however, and additional location is under review.  Promised a detailed comparative analysis.  (Note: Results from May 11 survey still not provided).

June 2018

Jun 14:             Announced that an order of 770 Antminer S9is had been ordered (no order date) to be delivered next month.  Containers purchased and being outfitted.  Lulea still preferred location.  Second order of miners will be timed to “take advantage of next generation miners.”  ETH was converted via a stop-loss order at a rate of 1:550.

Jun 27:             Containers being outfitted.  Lulea still preferred location.

July 2018

Jul 6:                Email discusses questions addressed on FB Live session- waterproofing containers, profitability of ASIC mining, on schedule to provide first payouts in Aug, when the first order will ship (1-2 weeks), and more…

Jul 11:              Containers arrive in Vilnius for fitting with ventilation and electrical equipment.

August 2018

Aug 1:              “We are THIS close to pushing that ON switch!” A new set of profitability calculations will be provided. Payouts starting Aug 2018.

Aug 9:              “S9 Miners will be delivered Monday-Tuesday of next week” 

Aug 17:            “770 Miners Start Mining This Week!”  First payouts will be made before end of August.  Second batch will be ordered in September and operational by October.  Electricity being obtained at the testing site in Vilnius at the same price as the Sweden offer, climate is comparable, so they will not be moving.  Miner One B-Wallet with all the features described in the white paper will be available by Q4 of this year.  Browser based wallet will start working in September and a payment card connected to the B-Wallet will be available Q1 2019.

Aug 23:            “Miner One Miners are Online & Mining!”  Miners went online August 19; first payouts by end of August.  Claims this meets the promise of the white paper and roadmap.  Second batch will be ordered September, online in October.  A final decision about container location will be made once all miners have been received and installed.  Reminder: “After covering operating costs, including electricity, and setting aside 23% for future equipment upgrades, Miner One output will be distributed among MIO token holders in ETH by smart contract.”

Aug 31:            Announced method for obtaining payouts.  Also added they will not take the 23% for equipment upgrades until mining has reached full capacity, will only take operating costs. Operation details: 770 miners for 13 days; Total BTC mined- 5.3448; Power consumed- 3.648882647 BTC @ USD $6950; Admin 10%- .0534484783; Net Output- 1.1615 BTC/29.0375 ETH; Payout per MIO- .0000017351686034126 ETH.   Tokia platform will launch on Sept 5.

September 2018

Sep 5:              Email states “full initial capacity by end of October, as detailed in the road map” which isn’t true; road map shows full capacity mining in September.  Also states that placing the second order will be made in September, per the road map (again, not true).  Advises that MIO can be traded on peer-to-peer exchanges.  A decision was made to not list elsewhere to reduce speculative trading.  Applications to exchanges are pending.  Basic browser wallet available this September; B-Wallet Q4 2018; Payment card Q1 2019.

Sept 11:           Email a warning about scammers asking people to send in their “old MIO” for new ones.  Provided the Etherscan address.

September 12 2018
Facebook Live Video – Pranas said they were fitting out the ten new containers now ready for the new miners.

October 2018

October 1 2018
Dashboard prototype complete, but not working properly, will have it up and running in the next few weeks.  Apologies for unsolicited emails, investigating how they gained access to the mailing list. “To the best of our knowledge, no information other than our newsletter mailing list could possibly have been obtained by them.”  Mentions 8231 ETH raised during Crowdsale (original report said 8213). About $870,000 USD spent on mining equipment and infrastructure; about $450,000 spent on ICO-related marketing and communications; Approx $3.2M USD.  Announces a survey regarding the purchase of new miners.  Also provided Sept Results: 770 miners for 30 days; Total BTC mined- 11.6069; Power consumed- 8.6533 BTC @ USD $6763; Admin 10%- 1.1607 BTC; Net Output- 1.7928 BTC/50.7514 ETH; Payout per MIO- .000003032707209 ETH.

October 8 2018
Survey results released. 52% voted to wait up to 4 weeks; 31% said to wait even longer.  Therefore, we will wait until the end of October to place the second order.

October 11 2018
About to sign a deal to list on a prominent centralized cryptocurrency exchange and tradeable for ETH and USDT.

October 24 2018
Listed on LATOKEN Exchange. 

October 26 2018
“B-Wallet Implementation Begins”  MIO held in a Tokia wallet will get free and automatic access to payouts.

October 30 2018
Changed date on B-Wallet from Q4 2018 to “by the end of this year.”

October 31 2018
October Results: 770 miners for 31 days; Total BTC mined- 11.5109; Power consumed- 9.5610 BTC @ USD $6325; Admin 10%- 1.1511 BTC; Net Output- 0.7988 BTC/25.7146 ETH; Payout per MIO- .000001536604957 ETH.

November 2018

November 15 2018
Bitmain announced release of S15s.  Calculations show that unless BTC prices are extremely low, S9js are the better option.  Placing an order for 3850 S9js in time to set-up by December.  Starting January, will go back to following white paper regarding allocation of output.  Installed Bitmain firmware to enable overt AsicBoost which will save energy.  Dashboard will be ready this month.  Identified a new location with better electricity rates, will provide information soon.

November 30 2018
Mining unprofitable; miners placed in standby on Nov 21.  Need BTC to reach $5500 USD at current difficulty level.  Nov Results: 770 miners for 20 days; Total BTC mined- 7.6967; Power consumed- 8.4375 BTC @ USD $4624; Admin 10%- 0.7697 BTC; Net Output- -1.5105(Reserve Fund) BTC; Payout per MIO- 0 ETH.

December 2018

December 4 2018
3850 miners arrived on Nov 30; cleared customs and delivered on Dec 3; installation underway.  Will fill 10 additional containers making 12 containers with 4620 miners total.  Negotiations continue on new location.

December 5 2018
Facebook Live Video | Darius Udrys and Pranas Slusnys. Pranas said they were finishing the installation of the miners and they would have 4620 fully installed by the end of that week ready to mine.
Three full time staff and one part time. Darius Udrys was one day each week. One person for Technical and Maintenance, one FTE for Social Networks and Community Support and himself. New site with half cent cheaper power would be finalised next week or maximum two weeks.

December 31 2018
Miners remain idle; negotiations continue on new location; need BTC to rise and/or difficulty to drop in order to begin mining.

January 2019

January 1 2019
Facebook Live Video | Dzianis Kuchynski and Pranas Slusnys. Pranas said there are three months reserves remaining.

January 28 2019
Newsletter | “Lower Electricity Price Secured in a New Location”  New price 6 eurocents per kWh.  New location Kharkiv Ukraine.  “As a result, we will be able to resume mining operations right away.” “All 12 Miner One containers are being moved to Kharkiv this week.  Mining operations are expected to begin by the end of next week.”

January 29 2019
Invitation to complete a survey regarding the upcoming location change.

January 31 2019
Support reduced on Telegram to only one account to “further optimize our reserve budget” Results of the survey and photos of new miners will published on the channel soon and sent out in a newsletter.

February 2019

February 4 2019
Survey results released and a photo of the containers is sent out. “Based on survey results (see below), our decision to relocate to Kharkiv region, Ukraine is now confirmed and backed by the community. Containers should be on road this week starting on Tuesday.”
Financial Report released as well.
“I will still be updating our community via newsletters and live Q’n’A sessions on Facebook, but we believe that such extensive support on Telegram is no longer effective and necessary”, says Miner One CEO Pranas Slusnys.

February 11 2019
Newsletter sent out titled “THE RELOCATION OF EQUIPMENT”. The contents to put it simply say that the containers are on the way to the Ukraine using a contractor from the Ukraine. No details will be provided including dates, routers or really anything at all. This includes partial disassembly of the containers. Pranas claimed photos cannot be taken, that the current electricity provider has broken the contract and that we are unable to move to other locations due to lack of funds. $21,500 is the approximate cost to move to Kharkiv.
Telegram group support would not longer be supported and newsletters would be moved to communicate and if you want to contact use their email.
The companies reserves are depleted and very limited.

Pranas Slusnys appeared on the Telegram group at 21:39 GMT and launched an offensive against the FinTelegram and this website, claiming FUD and Hate was being spread and threatening to sue those involved. He followed up by banning two long standing Miner One Investors for asking questions (one who was linked to this website), not content with that all their post history was deleted and the group was closed to prevent investors from joining.


Leave a comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.