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Bully: the last annual accounts mentions that the group has £8.728m in losses carried forward, which can be adjusted against future profits. Also as Wolf states, producing a coin (which is seen as a commodity by N American jurisdiction, as opposed to a currency) means they don’t pay tax unless/until they convert to fiat. That was my understanding, BUT this must be wrong (note PW answered my Twitter question in today’s Q&A session, saying there’s no tax advantage to holding coin vs fiat). In any case big losses to offset tax bill.
Or EBITDA
Bully that’s that difference between GP and NP....most companies only really care about GP.
Impossible to even guess.
Setting up of new sites (capital allowances) development of software (R&D Tax Credit) etc etc
This is not some tin pot outfit
If bitcoins are being mined and held then no profit is being made but the balance sheet is strengthening.
Only by selling the coins will a profit be generated.
I think money is being pumped into coinbase from crypto and other heavily PI’d shares. Once the dust settles it will start moving again.
Once you’ve found the bottom pile in.
Bully re run the numbers using March's figures
6.57 and 84%
Annual profit 66M
Gives PE of 10 .4
Plus there is the investment in Pluto and the bitcoin hels plus cash in the bank from last placement
Then there is the increase in hash rate before end of this quarter and further down the line the Texas facility and the potential listing on Nassau. Oh I forgot this is based upon bitcoin being at 55K USD . So even if you use 62k as an estimate for April at same mining rate the PE is close to 9
Apologies, ignore the hanging coda!
Fine numbers Bully, except that they don't take account of the fact that hashrate was rising over the period. Re-run your numbers based on March rather than Q1 and you get annual profit of $100m rather than $43m (165 * 12 * $60k * 84%), giving a P/E of 6.77. Allow for the imminent increase in hashrate of 55% and that becomes 4.37 on a forward-looking basis.
If you allow for a 60%
Bully
Both thinking the same thing
bigbadbob79, you need to buy a new calculator. Our P/E is way below 14, We are making around £100m profit a year presuming BTC doesn't grow any further. That gives us a P/E of less than 7 presently! Also no allowance for the value of our HODL, assets or Pluto stake.
Bob if you truly believe that the true PE is 5 to 10, what are you doing here?
Why did you invest knowing this? How do you explain the other miners far higher PEs?
Is this a parody account?
Remember to factor increase in ARB hash rate over the rest of the year.
I'd be interested to see you calcs Bob.
Phebus. PE is around 14 at current SP IF ARB maintain March production, IF BTC prices stays around $60k.
I think 5 to 10 is more appropriate for a company that operates in the very volatile crypto space, with a business that is dependant upon huge investment in a continual arms race with other miners for ever diminishing returns. Probably less with the financing costs of a $100m loan.
Peter Wall obviously thought the price was too high when he flipped 1.5m 7p warrants at around 260p. Otherwise he'd have held onto his shares.
If the CEO believes they are overpriced, an it be a surprise if the market agrees with him?
Whether it is a red or blue on LSE matters not. Neither of us knows for sure. But a £3/4M buy would have nudged up the price. I Note that the SP has been going down today. Thus it's a sell, not a buy!
Anyone that thinks a PE of around 7 (under 5 at BTC $100K) is massively overvalued is in la-la land and should be put on filter (bye Bully). Funny how the people who say it's overvalued rarely provide numbers and when they do so base their workings on out of date and grossly incorrect metrics. On the contrary those that maintain this is very cheap are transparent and bang on with their calculations. Thankfully many of us are more than capable of doing the research and analysis ourselves.
The £620k sell (listed at 1637) suggests something! That's a lot of stock in one go to offload. US is down to 171. Tomorrow will be interesting.
250 grand sell and they accepted 170p. No wonder the mm's are keen on buyers.
No one knows essentially. Probably best to do a u-turn and tune back out for a few more weeks lol.
I haven’t tuned in much over the last couple of weeks.
Why is this Share dropping while Bitcoin is at record highs ?
I've set so bands over 6 months and worked very well last was under 2.50 buying over 3.50 slicing. Happy to wait for the rewards
If you're stressed best to take Blonity's advice from yesterday which roughly translates as switch off and go play some golf.
its a blood earthquake ... not a tree shake ... yet that's only if your not strong minded enough to be patient and realise the Market is unreadable now .. now one can second guess anything , Ive Tried and failed .. so have many on here ... However that's when you apply the investment banker principles ...Which are : When there is no fundamental reason for a drop in Stock , then you can guarantee it will correct itself ... hence I topped up ...
Yet in 2 months we've only managed to grind away 3 day's worth of gains.
This isn't a tree shake. More like a forest shake.