We would love to hear your thoughts about our site and services, please take our survey 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.
It’s funny isn’t AB, all these numbers get thrown up on here seemingly to try to highlight how ARB is doing everything wrong yet where are all these other superb miners with huge hodls and impressive mining numbers?? Nowhere is the answer. Their hodls will be exhausted just to keep the lights on, mara will be lucky to survive (although I don’t think their board give a s**t really), most of them will be switching their machines off if this continues…all those machines doing nothing! “But it’s a race” I heard you all say…nah, PW has played this well, smart growth, cheap clean energy, absolutely not looking at others in the market and being tempted to race (to the bottom as it turns out) with them.
ARB well positioned to be there, at the front, we’ll into the future.
Typical Argo outperforming lol.
Where?
Lowest mined numbers, lowest eh equivalents (lower than Mara) but typical Argo outperforming lol you cant make this 5hit up anymore x;)
We were going to receive news soon about the mining pool fiasco its all gone very quiet as Terrapool mines the correct equivalents without Argo ? that news soon was 5 weeks ago ! lol
Lets see what hodl is left in next weeks update and the collateral thats needed for these loans/ debts !
Im sure its gonna be a great update.....
for me x;)
"I'm sure I could come up with plenty of stats where Argo wins out."
How can you be so sure without looking?
I'm not so confident. Rookie seems to have covered most of the main stats and on the costs side BITF had similar or lower costs per coin mined (whether all-in, direct only or on a cash basis) in Q1. So whatever stats you might find where ARB is currently better I'm struggling to see what they might be and, even if you do, how important they are.
Just because the current stats are better though (and some of the projected stats too that Rookie provided) doesn't mean BITF is a better investment than ARB. That depends on many other things as well, for example relative market cap as a starting point, execution of their respective strategies, immersion benefits for ARB and the success of the intel tie-in, activities beyond mining etc. etc.
A lot of this is a matter for judgement and I don't know BITF well enough to make that judgement but I certainly wouldn't make it myself without looking and that seems a worthwhile thing to do especially as the stats appear to compare so favourably for BITF at the moment.
Yes I'm pro Argo. No issues with bitfarms, but to say they are better on every measure I disagree with. I'm sure I could come up with plenty of stats where Argo wins out.
Yes I mention mara as they are your example of great management, given you say how bad Argo's is all the time and hold mara in better esteem.
Yes I underestimated the 200mw eh. Got that wrong I admit. Typical Argo outperforming lol.
AB
But my usual answer is don't buy Argo if you don't think they are going to succeed, rather than posting nonsense on this forum.(what was the nonsense part)
Then Rookie investor posts his ‘facts’ ie the numbers
And then you say this
Bitfarms is the BTC per EH that I will measure against going forward, to hopefully prove the benefit of immersion overclocking.
Its mad how biased towards argo you are AB when any modicum of research shows that right now argo are one of the worst performing miners worse than mara per eh equivalents, and you love telling people about the **** show of mara.
They mine and own a hodl btc that argo are trying to aspire to numbers wise.
You went from nonsense post with rookie investor to using bitf as the benchmark for output eh equivalents. I find it very bizarre! And I go back to this ‘crisis actor’ for argo because unless someone puts you in your place like Hexam did with the all in mined figures and now rookie, it then becomes agreeable to you. You mentioned investment in bitf but didnt know anything about them, but always always you say argo are the best, and then of course the calamity of your eh predictions!
You have a lot of shares here I guess that doesn’t help the cognitive dissonance you have in Argo but that doesn’t mean all the negatives for argo are false because you say so. Argo have little cash and little hold and that is extremely precarious at this moment in time. Its becoming clear how biased you are and clear facts in other miners are derided by you as nonsense, id say slowly but surely your investment case in argo is becoming nonsense, so tread carefully x;)
Btc needs to go up and fast! if it doesnt Argo are in a lot of trouble !
Can't disagree on your last post rookie. Bitfarms is the BTC per EH that I will measure against going forward, to hopefully prove the benefit of immersion overclocking. I fully expect Argo to take number 1 from them by year end. Yes ideally we'd have no debt, but ideally bitfarms wouldn't either. All miners are high risk just now, and it's built into the price. Any miner that survives this downturn, however long or short, will likely see their share price multiply.
I should also say that none of what I have said about Argo v BitFarms means that Argo at current share price will not be a very profitable investment down the track, after all their market cap is very low; but it is also fairly high risk given the size of their debt and limited cashflow - they are on a bit of a tightrope.
When/ if helios starts to help argo catch up with all the other mid miners , I'll be here to gain from it.
Still can't see the point of losing most of your money here to hope you'll make it back at a future point in time personally, but each to their own
“Backwards looking on Argo and not understanding or just ignoring Helios” - no that’s false. I’ve factored in every since machine that Argo has funded to date. Even if you throw in another $50m of debt to fund the Intel OEM machines with Epic and push them up to 5.5 EH they are still not as well positioned as Bitfarms who have already paid for 6.0 EH and have a goal of 8.0 by EOY. Then consider difference in mining output pre-halving to March 2024, the opportunity cost. Helios gives Argo a very strong base but expansion needs $ and they have maxed out the credit cards to get to 3.9 EH and still need another sizeable lump just to fund phase 1 to 5.5 EH. So had Bitfarms until their margin got called in by Galaxy but they have the benefit of being far more down the track then Argo so their credit crunch has still left them in a robust position. Then the final crux is that Bitfarms productivity is second to none, we see that every month. They don’t have old dodgy S17 machines like Argo & Riot. I appreciate Argo should be on the up and up now with roll out in Texas but no credible case to put them alongside Bitfarms on any analytical basis.
Blimey AB, all the chimps are out tonight aren’t they lol!
A measured post is called back peddling, anything positive is called ramping, and apparently rookie investor is the guru on ARB! Lmfao.
Oh look, ARBK finished up….again, BITF finished down…..again! But hey, it’s way better.
All those who championed Mara don’t even wanna talk about it anymore…yeah let’s buy a ton of machines we can’t run, great shout. Lol
The vision and spirit of Helios cant you see it fp? ignore and forget the numbers lol
Back peddle back peddle haha
You'll be in the green box at this rate rookie, speading the truth so recklessly here :)
I'd argue with some of your figures, but my main issue is you are very backwards looking on Argo and not understanding, or just ignoring, Helios. I don't deny that Argo has had poor production this year until now. And yes June update next week is very important. Let's wait until it is released before deciding is content though.
But appreciate you supplying some figures as most don't so thank you for taking the time. I didn't like bitfarms recent actions around ATM and hodl buy/sell. None of the miners are perfect.
Will be interesting to see Argobull rebuttal here or like most facts just get ignored x;)
Wasnt trying to 'latch' on to your excellent posts, just like always the rampers take one line out of a whole essay and ridicule people.
Bitfarms has been a **** show with the btc hodl sell, however at least they've addressed it and like you say, an excellent transparent monthly update on the first day of the month.
I think its blindingly obvious that Argo are one of the worst miners around now, the numbers prove it. Yet we still have this everything is wonderful in argoland spiel. Argo monthly update gonna be a **** show imho and if it isnt they are putting heads in the sand and hoping for btc revival.
Argo bull, I really shouldn't waste my time on you any further, but what the heck:
-Has less debt than Argo ($75m v $115m)
-More cash on hand ($42m v $12m)
-More EH online (3.6 EH v 1.9 EH)
-Much higher productivity (120-130 BTC produced by BitFarms per EH last 3 months v 95 BTC per EH produced by Argo)
-Larger HODL (3144 v 2192)
-More power capacity built out (132 MW v 120 MW)
-More EH of machines paid and funded (6.0 EH v 3.9 EH for Argo, $50m needed to fund intel backed machines to 5.5 EH)
We also know more about Bitmains present position than Argo as they are more transparent. Argo will release their monthly update in a couple of weeks which I suspect will make for pretty grim reading. Bitfarms on other hand couldn't wait to update the market to do. As an example of the difference on disclosure, Bitfarms had the luxury of purchasing 48,000 MicroBT machines last year for $38.5 TH, on of the lowest machine price purchases announced by any public miner; contrast with Argo who still refuse to confirm what they paid Bitmain for their 20,000 batch of S19 machines (n.b. almost every other miner who have bought S19s from Bitmain have confirmed the price paid, see Mara & Riot for examples...) None of the above precludes Argo as an investment, but they aren't as well positioned as Bitfarms - it is blindingly obvious.
I know LA, just here to try and rubbish Argo day in day out. Argo still standing guys, sorry if that upsets you.
Not much pro mara talk these days, funny that.
Always the way with that lot AB
General statements with no figures. Figures please.
ArgoBull, you have admitted you don't know even the basics about Bitfarms position in the market, yet you were immature enough to refer my entirely factual posts as firstly nonsense then secondly in offence of your BS detector, whatever that means. I've already set out for your the position on every metric that Chaebol has since latched onto. Argo trails Bitfarms in every one of them. You seem to find that somehow impossible to believe, that is a feature of your personality over facts. These are public companies after all and it is really not that difficult to be a bit of due diligence. It is not about "having an issue" with miner X or Z, it is all about dispassionately examining all of them and the investment case for each; against each other, the sector and the wider economy.
but ignore all these metrics
-Has less debt than Argo
-More cash
-More EH online
-Much higher productivity
-Larger HODL
-More power capacity built out
-More EH of machines paid and funded
No issues with bitfarms, I have shares in them, but they are hardly perfect and recent panic by them has made me lose confidence in them. Argo hasn't. I don't know bitfarms business as intimately as Argo's, so I can't confirm or deny statements made by you, but I know the throwaway comment at the end saying it was better on every metric set off my bs detector and simply won't be true.
ArgoBull, I was surprised so see you claim earlier that I was talking "nonsense" for claiming that Bitfarms was in much better shape than Argo. But given your username, maybe I shouldn't be.
The facts are these:
Bit Farms:
-Has less debt than Argo
-More cash
-More EH online
-Much higher productivity
-Larger HODL
-More power capacity built out
-More EH of machines paid and funded
Bit Farms mines 3.5 BTC for every 1 coin that Argo produces and do so just as cheap, average power costs of $0.04 kWH USD.
There is not a single metric that Argo is better than Bit Farms on when comparing the two miners side by side. Sorry, that is not what you want to hear.
557 posts this month
You cant even get that correct baker boy.
its been a good bloody win and you lot have been a good sport as well, we are nearly home x;)
8-12p
CHAE GLA
“Argo has some challenges ahead, the same as all the miners. My money is with Argo. Many try to paint Argo out as somehow worse, but it isn't. But my usual answer is don't buy Argo if you don't think they are going to succeed, rather than posting nonsense on this forum.”
Well said AB, completely agree with that well reasoned statement. ARBK blue right now (subject to change with no notice), onwards and upwards.