Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thank Wicky. In terms of life expectancy it does depend on mining difficulty and the price of crypto. Currently we are profitable at $4k bitcoin. If the price drops below this we would have to turn our machines off. At the moment we have good margins. To the best of my knowledge the efficiency of the main listed miners is:
Argo - 21PH/MW
Riot - 28
Hive - 23 (equivalent I believe as they mainly mine Ether)
Bitfarms -14
Hut8 -9
Mara - 20+
So we are well placed. Our S17s should be good for at least a year or so, especially with bitcoin rising. I would also highlight here Peter Wall's astute and frugal purchasing policy. He appears to focus on the buying the most cost effective machines rather than the most efficient bleeding edge kit. His recent purchase of 750 Z11s was a masterstroke - cheap yet providing better margins than the best BTC machines. Smart.
Its been on my radar for a while first discovered heard about it on VOX markets it was covered there a about 18months ago hadn't really considered it as the volatility of BTC was a bit scary, The addition of Zcash is exciting for diversification and the timing seems good with the recent rise. Their attitude to debt is good I like that they pay it off asap. Does anyone know the life expectancy of the machines and how often they need replacing?
Welcome Wicky11. Can I ask you where you found out about Argo?
The 300K shares plus at 6,54 was mine, I took a small position last week in the mid 5's and then did my research, this is a no brainer I took some GGP profit which was hard to do but felt in the current climate and the printing of fiat currency around the world BTC could be considered a safe haven . This is a perfect stock for exposure to BTC without direct investment in the currency itself. I really felt that this was entry level, and when the herd arrives it will really take off
I'm thinking of selling something else to top up here
Bitcoin and other cryptocurrencies are having a mega quarter. Watch this rerate once investors realise we mine bitcoin and zcash.
Argo still under the radar of investors. Buying all I can before this rerates. Good luck all
I am working hard on stocktwits trying to raise the awareness of Argo to the North American private investors. Argo does genuinely offer them something they are currently not getting and that is quality and value.
I am hoping for a similarly positive response on Stockopedia though I have only started there.
followed by another nice buy 301,889 @ 6.59
Nice early buy at over 300,000 shares @ 6.54. More please!
Another Great Post Billfunk.
We have seen a lot of new investors over the last 2 weeks and btc hasnt consistently breached $12k yet, just imagine when it breaches $15k and then a new all time high..
We have all caught this bubble early and now we can sit back and enjoy the ride.
stay safe
Just got a bite on stocko. Responded with this:
The new CEO, Peter Wall, has made encouraging noises about cutting the rather extravagant 2019 wage bill. He also pulled off a stunningly well timed purchase of 750 Bitmain Z11's in June just prior to ZEC's run from $50s to the current level just under $100 which amounts to an estimated $700k total revenue each month at an even better margin than the Bitcoin miners. I think this significant addition has been totally ignored by the market to date.
I do know that several shareholders have spoken to the CEO about the potential for listing abroad and that this is something they are considering. For my money, a NASDAQ listing would be optimal as the price action and momentum displayed by Riot and Mara have been simply stunning since the March 13th yearly low.
Just for the benefit of those of you out of the loop on this one, Riot has risen from 70 cents in March to $4.24 currently whilst Marathon has risen from 40 cents in March to $4.75 currently. And all this with relatively modest rises in the underlying asset.
I see quite a few threads on here asking where people should be investing going into Great Depression Mark II and blockchain and gold seem to me to fit the bill perfectly. Fiat currency appears to be in terminal decline and all the many debt laden British dinosaurs look set for bankruptcy. Blockchain and cryptocurrency will be the defining technology of the 2020s and Argo is the best pure crypto miner on the market both in the UK and worldwide.
Long Argo. Target >£1
Thank you IAR, I am sadly very much an amateur gobsh,ite.
That said, this is the digital age and as individuals there is a lot we can be doing to raise awareness. Eventually if the share price keeps rising and we keep banging on about this all over the internet then the dinosaurs will take notice. I have a script which I repost every hour or so on stocktwits. I will revisit the Stocko thread every day and bump it (because I am assuming the decrepit Stocko geriatrics will ignore it). And today i have fired off emails to Nasdaq and Diginex which I expect will be very high priority for them both. They will both be firing out luxury corporate welcome packs to me ASAP in anticipation of earning a slice of my huge capital.
Just to add for future reference the thread title on stocko is
"Blockchain and Cryptocurrency stocks"
I just posted this on the discussion boards at Stockopedia. Feel free to join the discussion if you wish:
"Apologies if there is already a thread on this topic. I did scroll down for a few minutes but was unable to find one.
The bull case for investing in this sector is the anticipated crypto bull which is expected to run from now until November/December 2021, the institutional buy in of crypto assets by the likes of Paul Tudor Jones, Visa, Mastercard etc, and the political acceptance of bitcoin as highlighted by the Federal Court declaration that bitcoin is officially "money".
Looking around the UK universe there aren't many blockchain stocks to choose from. One I am invested in personally is Argo Blockchain (ARB). This is a very low debt company with 720PH of bitcoin mining capacity which resulted in the mining of 165 bitcoin in July at a mining margin of 34%. They also have 280ms of ZEC hashrate which is approximately 7% of global ZEC hashrate. Both BTC and ZEC have had very strong months and the consensus is that this is just the start of a bull run which could result in $100k BTC.
Interestingly, Argo lags behind its US contemporaries Riot Blockchain (RIOT) and Marathon Patent Group (MARA) both of which produce significantly less crypto assets every month but are worth many multiples of their poor UK cousin. Riot surrently only mines 50PH though this is set to rise to 566PH when new machines are installed yet its MCAP is $120m. Marathon only mones 25PH rising to 250PH this year and is valued at $60m. Meanwhile Argo on 720PH + 280ms ZEC is worth only $20m
I am beginning to think the UK market does not like blockchain and crypto stocks! I welcome your comments here."