I'm confused

Alex Ma ID: 8085228 Posts: 3
09 Nov 2022 04:28 PM

I'm a new entry, fascinated by the prospect of charityengine. However, I am confused about the situation that how much we can do. According to information on the website, the profits shared 33-33-33(same share) and there is no more than one winner in each Prize Draw Period. From News,  I find three winners were drawn in 2022(by far), each winner won 1000$. 

Does that mean we donate about 3000$ to charites  and the profit is about 9000$ in 2022?   Could somebody explain it a little please?

Mark McA ID: 179 Posts: 224
16 Nov 2022 03:22 PM

Hi Alex,

Thanks for joining! To answer your Q; the majority of our contributions are in free computing donated to science and medical research ( see www.charityengine.com/grants ), currently north of 1.1 billion compute-hours (not a typo!) worth at least $12million. Although some runtime is sold to keep it all going, it has only ever made very modest profits so the donations and prizes have actually exceeded the 33-33-33 profitshare. Total donated so far is approx $200k, total prizes are nearer $100k (as unclaimed wins are donated to charity) - but we've made considerable progress recently in upgrading both the capabilities and ease-of-use of our general compute services, so we hope to grow all this moving forward.

Onwards, ever onwards!