Genesis Mining denies USI-Tech partnership, Omnia Tech C&D
Desperate to provide evidence of an external source of revenue, about a week ago USI-Tech affiliates began circulating footage of “a new data center in Iceland”.
It didn’t take long for people to realize that USI-Tech’s “new data center” looked identical to that of Genesis Mining’s facility, also in Iceland.
This prompted speculation that USI-Tech was mining through Genesis Mining. Speculation Genesis Mining has been quick to shut down.
In the replies of a tweet regarding a cease and desist to Omnia Tech (more on that later), Twitter user “Rory” asked Genesis Mining about the footage:
Still waiting for you to comment on USI-Tech using your video and claiming its their facility.
Are you willingly entering a partnership with a known Ponzi scheme or is this another elaborate lie by USI.
Confirm or we will assume the former.
Genesis Mining replied;
We’re investigating if any of the footage is real and if, how it it happened.
In any case: None of the hardware belongs to them.
We have no business or any other relationship with them.
So unless USI-Tech has built a 1:1 clone facility in Iceland to match that of Genesis Mining, it’s a safe bet the footage has nothing to do with USI-Tech’s business operations.
Not that it matter, as footage of a mining rig isn’t a substitute for audited accounting verifying an external source of revenue for USI-Tech affiliate ROI payouts.
Despite launching its bitcoin pack Ponzi almost six months ago, to date USI-Tech has failed to provide evidence of external revenue being used to generate affiliate ROI payouts.
The other questionable business Genesis Mining is distancing itself from is Omnia Tech.
Omnia Tech launched back in September and offered affiliates a daily ROI, purportedly sourced from Genesis Mining partner contracts. Omnia Tech’s compensation plan combines the daily ROI with pyramid recruitment.
Despite marketing advertising the co-founder of Genesis Mining would be a keynote speaker at Omnia Tech’s launch event, today Genesis Mining denies any connection.
In a tweet dated November 24th, Genesis Mining wrote;
We received a few inquiries about Omnia recently.
We hear that they are still using our brand name in presentations, however, they have never purchased equipment from us after their launch.
Omnia has been asked to delete all references to GM. Thank you.
Contracts dated as late as September 6th between Genesis Mining and Omnia Tech for mining rigs are doing the rounds.
This suggests that mining equipment was purchased, however the status of the contract (which does appear to be ongoing) is unclear.
Beyond the initial sale of mining rigs, Genesis Mining for their part clearly want nothing further to do with Omnia Tech.
Pending any further clarifications, stay tuned…