Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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'Everyone’s got a plan until they get kicked in the nuts.'
Well this kicks like mule......pretty relentless as well.
I think Mara has been rumbled on this board already :)
‘Point’
Everyone’s got a plan until they get kicked in the nuts.
point
'Company - Oct - Nov
Riot - 464 - 466
Bitfarms - 343 - 339
HUT - 324 (??) - 265
MARA - 417.7 - 196
Argo - 167 - 185
Spot the odd one out? Well yes MARA had a shocker of a month, but Argo's the only one with a meaningful rise.'
what is the piont you are making here please?
Fair play AB, although the Bitfarms one does say the increase was on Nov 25, so their increase should be visible in December's figures. We know difficulty went up in November compared to October so it looks like Argo's hashrate was probably installed early in the month (well, earlier than Bitfarms and Riot, anyway!)
My point really is that hashrate is hashrate. If our mining rate has increased faster, that can only be because our daily average hashrate went up more (on average over the course of the month.) All good, of course, but I wouldn't read anything much into one set of monthly deltas.
Lotto yes I'd agree with that - it's network hash that is relevant for market share. The purpose of difficulty is to keep the block time at 10 minutes. However it is lagging, so sometimes blocks will be less than, or greater than 10 mins, so more or less BTC rewards.
I think it will be a mix of 17's and hosting. Once we get Texas up and running it should solve both.
Wrong.
https://www.riotblockchain.com/investors/news-events/press-releases/detail/118/riot-blockchain-announces-october-production-and-operations
https://www.riotblockchain.com/investors/news-events/press-releases/detail/121/riot-blockchain-announces-november-production-and
https://bitfarms.com/app/uploads/2021/11/Bitfarms-11-01-21-Press-Release-Oct-BTC-Production-Update-FINAL-v5-CLEAN.pdf
https://bitfarms.com/app/uploads/2021/12/Bitfarms-12-01-21-November-Production-Update-FINAL-v5.1.pdf
Rory: did you read my post? I used the hashrate installed by Oct end. In other words that’s the minimum that we have officially installed. I have looked at other miners and their official installed capacity by Oct end (ie disregarding hashrate added through Nov), vs coins produced in November. I tried to calculate the average monthly network hashrate for November if each of their machines were 100% switched on (I know this is impossible but I wanted a comparison). Network hashrate is the only variable I haven’t got and is widely varied on different websites. (Argobull: correct me if I m wrong: the difficulty adjustment is irrelevant, as it’s got a reciprocal relationship with hashrate, ie more hashrate coming online, difficulty has to adjust upwards; of course price kept at constant). So:
Hive: 2.213EH—> 389 coins (gives total network hashrate of 153EH)
Bitfarms: 1.7EH—> 264 coins (173EH)
HUT8: 1.8EH—> 339 coins (143EH)
Mara: 2.9EH—> 196 coins (399EH!!)
Riot: 2.6EH—> 466 coins (150 EH)
So those using hosting appear to have lower functional capacity, translating into lesser bitcoin mined per month. There is a real case for running our own facility and this might explain the vacuum in expansion in 2021, the change in thinking. These numbers are just simple crunching, so make of it what you will.
Most likely because Argo's the only one that installed new machines in November?
The others got their rises in earlier!
Company - Oct - Nov
Riot - 464 - 466
Bitfarms - 343 - 339
HUT - 324 (??) - 265
MARA - 417.7 - 196
Argo - 167 - 185
Spot the odd one out? Well yes MARA had a shocker of a month, but Argo's the only one with a meaningful rise.
‘Machine failure’??
Ever heard of Occam’s Razor?
The simplest explanation here is that the new hashrate didn’t come online until late in the month.
Lotto - if you compare the Oct/Nov numbers for other miners you'll see most made the same or less in Nov - even those expanding hash rate - due to total hash & difficulty adjustments upwards.
Argo has bucked the trend here. Very positive numbers this month. S&T 17's have had a high failure rate due to glue melting (or something like that) which has hampered us for a long time now. The new S19's will be more reliable and solid. However I think they said they were doing a lot of repairs on the 17's so maybe there's a boost there as well - plus the immersion testing they are doing, hopefully adding a bit of hash.
https://ycharts.com/indicators/bitcoin_network_hash_rate
https://ycharts.com/indicators/bitcoin_average_difficulty
“ I thought PW explained the extra btc in October? Argo have been trading. I think it was mentioned in the blonity interview.”
Problem I see is if you don’t have to rns 125 btc win then you don’t need to rns 125 btc loss. I guess this is just part of the PW transparency you Argonauts really admire x
Assume the ZCash contributed about 20 bitcoin equivalent. So we mined 165 actual bitcoins. How does that compute with the hashrate even at Oct end, of 1.295EH? At 175EH, that should yield 199 coins. Let’s assume 10% failure, it gives 180 coins. My conclusion is that there are machine failure issues (15-20%) out of our hands really and hosting is not working for us. This would explain the impetus to be “Captains of our own ship”.
Nice to see an article that just gives facts and not opinions!
Sp00kyf1sh
“ I thought PW explained the extra btc in October? Argo have been trading. I think it was mentioned in the blonity interview.”
He said that they had reached the stage where they didn’t have to report every buy and sale of crypto, but he also said about Argolabs being full of nerds, which makes me think there is a lot more going on than trading btc.
ratherbelucky
You posted the words right off my keyboard!
We averaged 14% more bTC per day compared to October but hash rate increased by 24% so the expectation all things being equal and no jump in overall hash rate then December number should be approx 207 anything else is a bonus
Correct. The extra BTC has come from trades
This month’s numbers are good, and I suspect a decent proportion of the uplift is due to ZCash appreciating during the month.
With these numbers, I think the extra 310PH was installed late in the month, so there should be another sizeable uplift next month.
Hopefully, Argo will be able to get the remaining ~100PH installed early this month too which would be a decent bonus.
I’d really like to see some incremental hashrate increases each month over the next few months too; there will be S17s available on the secondary market, whilst they’re challenging to run they can still generate some income and then be shifted to Texas.
I thought PW explained the extra btc in October? Argo have been trading. I think it was mentioned in the blonity interview.
I've been tracking the monthly updates for a while now and updated it for the 'extra' btc we seem to have picked up last month. I suspect most months there are slight rounding issues probably when converting BTC equivalents? The extra in October was certainly an anomaly and not repeated this month. The extra 172.5 back in January was explicitly called out as a purchase in an RNS so if we purchased more in October why not just say so? So still a mystery.
Day Date Month new BTC Margin Extra BTC HODL
Mon 7/12/21 November 185 86% 4 2317
Mon 8/11/21 October 167 86% 125 2128
Thu 7/10/21 September 165 84% 12 1836
Fri 3/9/21 August 206 86% -43 1659
Tue 3/8/21 July 225 83% 3 1496
Tue 6/7/21 June 167 78% -7 1268
Thu 3/6/21 May 166 82% 6 1108
Tue 4/5/21 April 163 85% 9 936
Wed 7/4/21 March 165 84% 0 764
Wed 3/3/21 February 129 81% -31 599
Wed 3/2/21 January 93 71% 172.5 501
December 96 60% 235.5
Thu 3/12/20 November 115 57%
Thu 5/11/20 October 126 40%
Wed 7/10/20 September 127 37%
Thu 3/9/20 August 166 44%
Wed 5/8/20 July 165 34%
Tue 7/7/20 June 180 27%
May 252 34%