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Ok, so looks like it was the former.
Seems slightly low in mining rate for the added 2nd batch. But can only be good.
Predictions for the year?
Without adding any further orders for machines it would be reasonable to expect 25-30m revenue for 2020, taking into account difficulty growth.
If they add more machines then obviously higher.
Tweets from Argo
"Install of new machines ahead of schedule. Current installed prod capacity is 13,364 machines. This includes 6,375 new Bitmain Antminer T17s installed since the beginning of this month.
Installed machines currently produce 472 petahash. Will produce 650 petahash when current machines on order installed."
Either way. They will be installed and operational soon and if we can get the third batch installed early as well that’s only going to benefit ARB.
Roll on the additional revenue.
I'd go with that assumption Scott.
Yes JohnHenry,
I think they’ve messed up somewhere.
Either they have received the second batch and they have managed to install them but not updated the current mining rate in line with this.
Or they have been keen to state that the second batch has arrived and been installed, but isn’t actually installed yet.
I think the later is probably the case as they were aiming to get the first batch installed by 10th Jan. so to have the second batch arrive early and installed by today seems a little stretched.
10 x revenue and Bitcoin on the up, why has the sp not rocketed to 10P???
Good results but sold some of mine today. Think this price is now fair and btc is so volatile that I have no idea how to value this company. The halving also worries me a bit so sold half for a good profit....which after all is the idea. Good luck all
great progress with new mining machines - with almost 100% additional capacity added since start of Jan (6,375 recently installed - 13,364 in total) and with BTC prices improving this could be a fantastic H1 for ARB. Potentially £7m to £8m rev for Q1 alone (based on Q3 where BTC price was similar).
For H2 2019 I make it £4m gross profit based on 73% and 53% gross margin. Not sure what admin costs were - probably c£1m plus (were only £600k in H1) so total profit for year 2019 should be over £3m (including £0.94m profit for H1).
Ahh sorry John, thought you were on about the physical numbers.
Yeah, I've no idea hows those figures match up.
ConMan the RNS reads that they have 13,364 machines installed. However that number machines doesnt tally with the petahash rate of 380 currently being produced by the installed machines.
If that number of machines was operational the hashrate would be considerably higher.
Confused dotcom
Since the year end, the Company is ahead of schedule with the rapid expansion of its installed production capacity, which currently stands at 13,364 machines. This includes 6,375 new generation Bitmain Antminer T17s delivered and installed since the beginning of this month.
So 3,625 more to be delivered and installed.
Since the last update 2nd Jan ARB have taken stock of 2759 more T17s.
That's how I read it, happy to be corrected?
I think the last quarter figures were achieved with approx 260 PetaHash.. since early Jan we are now at 380 PetaHash increasing this quarter to 640 .. seems like a no brainier to me .. hold
Cracking volume!
Hi Scottman, RNS seems a little confusing regarding Machines actually online and mining and Machines installed.
I take it the recent 3.616 machines are installed and mining.
They have recently took delivery of a further 2,748 machines, installed but not online ??????
I take it from the RNS that they have now received the second batch but havnt installed them yet. So shortly should be rising from 380 PETA to approximately 530 Peta.