The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Yeh 404 pretty much right now we are mining more than CLSK and Riot combined RIOT 6.5 btc a day!. FUD time for Mara again and I think this is probably the most exciting time ive been invested with them, lots to look forward to and hopefully that higher sp comes along, I really do feel BTC wont run again mid end June, then hopefully we off to the races.
All the other parts of MARA business will take months for the plebs to understand and get priced in but it will oh it will.
GL
The results were really good from clean spark and early in the day it was up 8 percent. can you imagine in a bullish bitcoin what will happen with this stock. off the scale stuff. even clean spark is in the red which shows they are not going to make it more easy. nope. if you want to win you somehow need to be still in the game.
It is doing what it is supposed to be doing right now and in the cycle. infact it is text book bull market where the winners are those that can and do hold in the best. people that can wait and wait longer if needs must. when bitcoin does run it will take the best miners up with it but it is how long can yo wait. patience worked in 2023 and it will be the same in 2024 going into 2025. just in my opinion.
It will all look better when BTC runs, but my prediction is that WULF will get recognised for good fundamentals next week and hopefully start moving up a little. I can then chop and change again. Fundamentals are valued just now and Mara hasn't got them.
With you there Chaebol. Q1 was never going to be great, we did say this before. I take some comfort in Riot getting a beating too ;)
Costs should come down noticeably this quarter, they had fair bit of capex for fitting out the sites they bought earlier this year, plus fixing the various issues. Applied site being under their ownership an ongoing saving from Q2 too. Hard part out the way as far as the sites go.
One of these days you may learn not to fall in love with any company in this game. or maybe not.
Lol MAra hating again and that was q1, everyone knew Maras hash was offline in large portions, if you look in front of you Mara will be mining more than anyone else this year, Costs are high 30 million a month but lets see how that operates this Q and if/how the costs come down.
24/25 EH is operational, within months its going to double.
If you look at the last 3 earning calls mara has been absolutley ragged the most recent one is for having 1.6 billion in cash btc 50 EH paid for and 272 million shares issued and about 1 GW in owned infrastructure.
Im gonna love seeing another miner do that better. One of these days ill learn to sell on the earnings day and buy my shares cheaper but until then ill buy this dip of despair x
GLA
MB - yeah took a small hit, but better than a big hit.
Looking at the cash cost numbers - 90 mil direct costs, 20 G&A (excluding the 50 mil bonuses), that's 110 mil direct costs. Does not include R&D, interest, one offs etc that make it much worse.
It tells me they are loss making just now with negative cash flow.
They aren't going to sell the BTC hodl - so that means shareholders need to subsidise them via ATM until Bitcoin is at a better price. Ugly results.
Market absolutely hates Mara this year, can't blame anyone for ditching it. Btc production wise we didn't learn anything new to be fair, monthly reports had that covered and everyone can see their pool in real time. Drop must be a combination of B.riley cutting their rating this morning, btc price and ATM uncertainties.
Mara management could learn a quite a bit by following Corz imo. There management buying shares, not constantly issuing new shares (except when warrants price target hit but that clearly signalled and long way off), and mining far more consistently - despite challenge of running hardware that's older overall.
Sorry mate, TLDR 15 pages. But you can’t patent something that’s already in the public domain so even if other miners were using the same technique, it wouldn’t matter. So unless miners copy their (presumably) new technology then there is no issue.
Was not impressed with their (mara) BTC production (Qtr>Qtr) and their operational Hash (Qtr>Qtr). have they bit off more than they can chew..? looking forward to wulf results next week.
@CB - Currently looks to be good timing - I did the same.
Fully out of Mara now, can sleep easier again.
Pre-market up a little - don't think I'll ever understand miner pricing.
Must admit I've lost track now where Mara are with these ATMs. Shares outstanding only up a tad this quarter, was expecting a massive increase. Good news in a way, mcap lower than everyone thought.
But why kill sentiment with the shelf offering announcement in the first place, then not touch it? Double edge sword, if share count had increased massively that's never great, but at same time at least ATM plaster would be ripped off. As things stand having shelf filing sat there still bit of an overhang.
Https://argoblockchain.com/job/manager-of-financial-planning-and-analysis
"Reporting directly to the CFO and collaborating closely with Argo’s executive leadership and finance teams,"
Sounds more like Seb's role? Is he still there I can't remember.
DS, a quick scan of this does not give me any concern of potential lawsuits to miners. Suggest you have a read of the patent.
Had a quick glance, looks like a stinker. Serves me right should know better. Will probably dump them on open (again).
Been having a look through the Argo website this evening.
Takeaways are;
- no reference any longer to Argo Labs, so assume that ill-advised sh*tcoin venture is no more....and good riddance
- page added on 'energy optimization' which is mostly around how mining can achieve flexible loads for grids
- new open position for a Manager of FP&A in Canada added under 'Careers'. Is Jim on his way out?
Interesting. All these friends in the cryptoworld you have to love it.
CSW doing that to Pete would be right up his street.
NChain have patents granted in the US and the UK for POW mining.
I'm guessing nChain could send out cease and desist letters to miners....
CSW would likely send one to Iren as a poke in the eye at Peter McCormack but I'm not sure CSW has much of a role at nChain.
Presumably nChain could send out Cease and desist letters in the future, settle for royalty payments or go to court...
What's this loon up to now mate?
Date of Patent 7th May 2024
Systems and Methods for mining on a POW Network
https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/11979499
Interesting...
Thats the best bit........
As of May 3, 2024, the number of outstanding shares of the registrant’s common stock, par value $0.0001 per share, was 272,956,165.
Hope so, it is promising they've used those magic words 'fully funded'. You'd think $1.5bn would be enough surely, but to be honest I thought they'd be done with the ATMs before they started the $1.5bn 🥴