RE:RE:Bad TiminingIf the rigs have a book value of zero, it doesn't mean that the rigs aren't functional. I dont know enough about blockchain mining to guesstimate at what rate they will be mining coins compared to today. However, if they are mining half as efficiently as they are today, then they would be in an equal position financially because there will be no depreciation on the books (which is half of their COGS in Q3). I also heard an interview with frank holmes from a few months ago which indicated that there would be alternate uses for the machines once they become obsolete for mining purposes so at a minimum they could be sold off at a gain (since they have no book value) or offered up as a service provider for other non-crypto mining purposes.
I don't believe you are correct when you say that ETH needs to be multiples of the price here in order to survive. The current price of Ethereum, coupled with the drop in energy prices in the countries Hive has operations already puts Hive at close to breakeven.