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Yeah I guess if BTC went really low (like 10k) and stayed down there maybe they'd have to consider whether to proceed or not.
It was wasn't it! The end of year one the other week was really good too. Nice to get reassured and hear about the exciting things coming.
Oh yeah i get that and know that if intel dont make their chips or if argo dont have the money or anything else it's no bueno i was just looking for input on what they would need BTC price up for. I guess the short answer is everything, but as harchris said it helps with the selling of hodl. Makes sense, i KNEW it was a stupid question...
By the way that presentation was excellent
BC, I think these are just disclaimers. Nothing made me think it would not go to plan. I think it can be read as this is going to happen unless some unexpected event happens.
Yeah that all makes harchris - it just seems like that final 1.8eh intel stack part is far away from being genuinely solid to forecast although obviously i can see the plan. Agree with stnz too its hopefully all going to look like rookie numbers soon with a fully kitted out helios
Great to note their 12% interest is actually a really good achievement as well - i didnt realise it was in the mid 20s high teens not so long ago although had seen mentions on the board of a recent miner having 14%
Overall im really enjoying this presentation and if they can continue to pull this whole thing off then just wow
We should be mining 450-700 BTC a month EOY - so it won’t take long to replenish BTC sales/our 2600 HODL or whatever it is.
Isn't this just the shortfall between the NYDIG financing and the rest that's needed to kit out Helios Phase 1? Some of that shortfall is going to be through selling BTC but of course if BTC went very low I imagine they'd attempt to hold off selling and completing the last of the financing until bitcoin rose to a level they were happy selling at...
Just watching now
Re slide 9: deployment of intel asics (sketched in for late Q3 early Q4) They note it could vary due to supply chain issues, regulatory issues and **PRICE OF BITCOIN** - do they mean its going to cost a boat load and theyll need btc higher to really get the money together for intel machines?
Sorry if this is a stupid question
“ What I found amusing was the question which seemed to basically ask if BTC recovered to highs would Argo consider going back to a HODL strategy. Er...surely that would be a better time to sell compared with now???”
The incorrect psychology of the private investor. ARB should be hovering them up now from cashing in on the highs.
Wouldn’t have needed as much debt either.
My SIPP contribution came through - I just bought another 13205 shares. You'll see it come through shortly.
Nah Pete does that all by himself
Yes Hexam there are always a couple of odd questions that come through. Often from financial services analysts!
Chaebol, not interested. Just watch the video and try and as a bonus you can try and twist some FUD from it.
Next year? I deciphered that next year they're building out the remaining 600MW and I suspect they will host someone in part of it (and said party would help fund the build). Build to finish early 2024. I'm sure you deciphered something else lol.
Argobull at least now you can pipe down about 25 eh mid next year. What a load of old baloney that was, you invested a lot of time in that.
No, lets play the round and round game, you allege that im an expert on all things argo, Im asking for an example of me saying that.and you turn it round to say your not an expert in argo then.
Do you have an example of me claiming to be an expert in all things Argo?
Price yeh ill give most a run for its money, but thats not expertise in argo nor have i ever claimed that, unless...... you have an example x;)
Hexam, Ive never understood why they never had a sale strategy for when btc hit certain levels on the upside, the btc bull run has been meaningless to argo apart from being able to dilute shareholsers last year, youd hope that if btc went low enough they wouldnt sell and then when its soaring they sell, I said for months a strategy was required instead of this fake saylor hodl bs
disclaimer ; Argobull thats an opinion not me stating expertise in all things argo
AB - I did mention the BTC selling strategy (briefly) and I thought PW expressed it very well with his hands!
What I found amusing was the question which seemed to basically ask if BTC recovered to highs would Argo consider going back to a HODL strategy. Er...surely that would be a better time to sell compared with now???
Ok chaebol so you're confirming you're not an expert on Argo then? So why should anyone listen to your posts?
Agree Hexam. There is a lot of detail in the accounts, but not enough to get the crystal clear picture.
Obviously a lot of the Q1 costs were Helios related costs as well.
I think the numbers are generally good. Just think they shouldn't dress them up to be much better than they are - and it would be nice to be able to trust them more to get them correct.
Hexam - yeah they were pretty much the key points.
Reading between the lines (rightly or wrongly) I think they are near a deal where they will host part of Phase 2 (remaining 600MW) and this will help finance the build, which will run through 2023. To be confirmed.
No idea what phase 3 will be. Guess we'll find out at a later date.
Another key point was the hodl vs sell everything scale, and that they'll likely stay somewhere between the two.
Also debt/btc sales the focus for now rather than equity.
No changes to machine schedule.
All in all a good update.
The Figures never bothered me anyway. They should Herdster
Its all a numbers game. Im amazed that Hexam didnt bail, thats him letting it go, inner Elsa is in the building.
Argobull please show me an example of me highlighting my expertise on all things argo?
Lol chaebol - "So yeh i cant be investing an hour on that jackanory."
You're on here 24/7 claiming to be an expert on all things Argo, but can't spend an hour on a very important presentation.
Haha - Trouble is I'm more Anna than Elsa. Or maybe Olaf.
Hexam,
Just summon your inner Elsa and Let it go, Let it go, Let the Loonies rage on, The Figures never bothered me anyway.
Thanks for posting AB and you were right - well worth watching.
FWIW the main takeaways for me were:
- Good and encouraging updates on Helios (and Intel) and useful to have more detail though understandably they are cagey at this stage about the benefits from immersion
- Nice to see the confidence they have in their ability to make best use of technology but I think the proof of the pudding will be in how much their efficiency improves in terms of coins mined per EH (which at the moment is one of their weak points)
- PW recognised the results weren't great for Q1 and when the CEO says something like that you know it's true but as he said they were expected
- I'm still annoyed though by the way they presented the financials (especially around EBITDA and costs) and that the Q1 numbers highlight just how wrong the monthly updates have been. The presentation didn't help sooth me but I ranted enough about that yesterday so moving on...
- We discussed yesterday whether they had enough BTC spare to complete phase 1 and what they would do if they didn't but good to see this was answered clearly i.e. that they will be looking at further debt if needed to meet part of the outstanding $50m
- Interesting (and welcome) that hosting is very much a possibility for phase 2
- Also interesting to hear him talk about phase 3 i.e. life beyond 800mW even though he didn't give much away
- Other good points like addressing issue of ERCOT head on, explaining why latest NYDIG loan a higher interest rate than first (relative quality of assets backing them) and strategy for selling BTC
So all in all I personally found it very encouraging even though I'm still peeved about the financials - am trying to let it go :-)
'tHeN yOU cAn bUY tHeM All'
AB he understood it as;
“itZ gOiNg To ZeRo”