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Oh, please..............This kind of ill thought out post helps no one holding shares. This is distraction from a constantly negative source not the CEO's. WTF would he gain acting as Kraut suggests? I'm one who has issues with the SP and external MM forces slovenly behaviour when btc rises and alacrity to mark down every chance they can. This morning no exception. So if you are looking for bogeymen look there, matey.
PW has still not explained exactly what happened (4 days of downtime). Also, considering that PW was operations VP before becoming CEO, this "problem", and how it was allowed to happen, is an even bigger mystery. I think the simultaneous announcement that ARB will buy the GPU.one data centre is a novice distraction technique. I hope I am wrong and will give Kudos if PW manages to turn this issue into a big positive for the company.
If they do buy the facility they get access to more cheap electricity directly with no middle man.
It was a problem associated with the facility which at this point in time is owned by somebody else. ARB are considering buying the facility outright to control their own destiny. The Letter of Intent has been sent.
So it could happen again but I suspect measures have been put in place to prevent disruption to service.
What was the cause of the 'difficulty in mining ' in September? Is that likely to reoccur in October ?
This is beside being offline for 4 days. Just wondering if this could be a persistent problem.
I believe he listens to investor feedback: Purely speculation however my money is on us:
1) Getting hold of some **** coins and staking them (I love **** coins, mainly the 100 X ones)
2) Getting more BTC mining capacity (for the bull run)
3) Getting off this sh.ite exchange (Either North America or Asia will do. They understand and value crypto properly)
4) Buy a data centre to reduce costs ( If you've done your research into the data center maximum floor space and deduct arb's allocation you'll work it out that we are not alone! Maybe there is a hidden acquisition there...)
Peters a clever lad and i'm sure he's thinking the same.
Sausage-dog. Whislt smoking your joint can you tell me if ARB intend to list on another market ?
I havent seen this in an RNS but only flicked through at this point.
13553, is this the long awaited breakout?
Nicely put and true. 6.7p with btc now 13522. FFS.
Argo - great
London - sh.ite
The catch is this is crypto . The London suits don't "get" crypto....... Yet. We are on a "London" market. They'll get it soon.
Wait and see what the dual listing RNS will do to the share price. All these "suits" waiting on the side will all FOMO in. Just like they'll FOMO in next week when they see where the bitfinex whale is gonna send us with his buy walls.
Ivan say's it's gonna moon.
When moon, when lambo!
Now, back to my joint.
SD
Kiwi, yes that's how I simplified it for myself
gspanner, I have used mining of PM's as a hedge. Will be looking at buy physical outside of trading account. Cash in the bank is doing absolutely nothing.
Bananaman2, I hardly understand crypto too. But let me simplify it, Argo is a miner (think a bit like a gold miner). For every coin Argo mines it receives the Bitcoin price when it sells, current price around $13,5K per coin. Currently mining up to 166 coins per month, so at todays price that is 166 X $13,5K = USD $2,241,000 per month with a margin rate of 45%.
What happens when the Bitcoin price reaches $20K and beyond? ;)
Bman,
Fancy seeing you here....
‘A kind of hedge’...
Exactly! Probably best to have some PMs, but I suspect the greatest rises will be in BTC.
You are probably right. I just get the sense that people will be looking for this sort of hedge. Its a regular and growing income of with an appreciating value of sales.
Just bought 50k and 10k on spread to balance out my portfolio of renewables (green tech) and gold mining.
Can't say I am fully understanding of BTC and Crypto but the actual business from what I can see is growing rapidly and will not be affected by COVID only the price of BTC. which I believe will rise as a hedge against economic down turn.
Anyway. I am in
It's not more highly valued because it's in the wrong market. If it was in the US it would be worth 5 times as much.
I would go through and read all the RNSs ASAP, if you are looking at building a chunky position here I wouldn't wait around. This particular market won't wait around for you. Beyond this current resistance level is $20K
I apologise, I misread the 'Interim' as an 'Annual'. So the TO for 2020 is likely to be around £24m. The business is currently making a profit before tax and the biggest out going is power ?
I remember watching BTC in 2017 from around $400 rise towards $20000. Does seem to be more stable today. But that is not my point. I have taken a small position but very tempted to build this with my remaining spare capital. My concern is that it is out of my comfort zone in respect to my understanding of mining bitcoins. It does look like a great business which is generating income and turning a profit. It does not seem to have raised capital for a while either. Do they reinvest income to by further machines ?
What is the catch ? why is this not more highly valued ?
Bananaman2, this has to be one of the best plays I have seen in the last ten years. I personally believe this will be one of the biggest risers for 2020/2021, this is takeover target in the making. Bitcoin today is not what it was 5 years ago and having previously written it up as a fraud JPMorgan now admits that Bitcoin is in fact one of the best hedges against inflation.
Some great figures in the monthly report. So I gather October will be better than September due to a higher BTC price and no down time.
What is not to like here ? am I missing something ? seems like the perfect hedge against the current economic uncertainty.
Renewables, Gold, Crypto's
So how closely correlated is the ARB MCap/SP to the BTC price. I notice that BTC is very volatile, does ARB provide some stability to the volatility but monthly income obviously dependent on the price of BTC.
Seems the September figures of £1.1m is still better than the monthly average for the previous year. Looks good. Why is the company only valued at less than £20m ?
Switched on all month plus a Bitcoin price at times a MASSIVE 20% higher at times than September, I'm really looking forward to these figures!
The share price took a bit of a hit when September's report was released, due to the dispute over powering Argo's rigs leading to several days without mining.
By the same token, October's report (ceteris paribus) should look much rosier, just by virtue of being switched on all month. Fingers crossed!