ThreadDear DeepSquare Community,

Dear DeepSquare Community, We would like to share an important update regarding the DeepSquare Association. First and foremost, thank you. Your support, trust, and contributions made it possible to build something genuinely ambitious. Together, we explored a new model for distributed HPC infrastructure, built a strong ecosystem, and laid meaningful technical and conceptual foundations. After careful consideration of our current position and the broader market environment, the members have taken the difficult decision to wind down the Association and place it into formal liquidation. Following approval at the Extraordinary General Assembly, the required documents have been submitted to the Neuchâtel Commercial Register, and Myriam Semman has been appointed as liquidator. Over the past years, we made sustained efforts to make DeepSquare successful. Following the crypto bear market, we significantly reduced costs and continued operating largely on a voluntary basis while exploring multiple paths to revive the project, including institutional fundraising, cloud-based approaches, and strategic partnerships. With the support of an investment bank, we prepared a professional information memorandum and held extensive discussions with venture and strategic investors. Despite these efforts, the AI landscape evolved at an unprecedented pace, largely outside the crypto ecosystem. The market rapidly consolidated around the world's largest technology companies, while investor interest shifted decisively toward US-based and traditional data centre opportunities. Ultimately, we concluded that there was no longer a viable path to deliver on DeepSquare's original vision in a responsible way. On the operational side, our edge sites in Basel and Sion have now been shut down. Administrative costs were covered over the past period through the sale of second-hand hardware, but this source has now been largely exhausted as the remaining equipment has little residual value. In line with the spirit of the Association, our intention is that any remaining balance, after all obligations have been settled, will be donated to a project aligned with our values. We will share more details as the liquidation progresses. We will also publish a more comprehensive report during the liquidation process, providing a detailed account of our efforts and the steps involved. We wanted to inform you promptly while preparing a complete and factual overview. While this is not the outcome any of us hoped for, we remain convinced that we identified the right long-term direction. We are proud of the integrity, effort, and collaboration that defined this journey. The work was real, the ambition was justified, and the relationships built along the way remain valuable. Thank you once again for your trust and support. If you have any questions, please don't hesitate to reach out. — The Board of the DeepSquare Association