Sequencing Phase 2 Purchases When Capital Is Tight
How one Suwon farm staggered deposits across two quarters without losing slot revenue.
Capital timing kills more upgrades than bad hardware choices. A 65-unit private farm in Suwon had ₩120 million for Phase 2 but needed ₩185 million for the full row swap.
The Constraint
The operator’s lender would release the second tranche only after Phase 1 resale proceeds hit their account — a 45-day settlement window on secondary sales.
What We Proposed
Split Phase 2 into 2A and 2B:
- 2A: Purchase 18 units to fill the worst-performing third of the Phase 1 gap. Revenue from those units partially funded 2B.
- 2B: Purchase remaining 14 units six weeks later once resale proceeds cleared.
Trade-Off
Mixed rows ran two firmware versions simultaneously for a month. Pool management was annoying but manageable. Total Phase 2 duration extended from five weeks to nine.
Lesson
Phased upgrades are as much about cash flow as hash rate. We now ask for lender and resale timelines in the discovery call so Phase 2 dates are realistic.