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Looking good indeed gents, these surges feel far more natural than the recent off period. Interestingly with btc broadly flat or up marginally since market close yesterday, more confirmation of that trend of us leaning towards mirroring the indexes more.
Early on they still had a go taking the miners down on a small bitcoin drop. however this move now does look strong. and only the best was noting front runners like clean spark up 12 percent and mara up 9 percent. some others are not doing as well. anyway let us see how it ends today. a strong end and that will be great.
Have the miners been triggered? some big jumps, finally...............still a long way from where we should be but ill take today ! lets hope btc gets another leg above 35k before US close.
GLA
Nice.
You're right Chae - it's useless arguing with people who clearly have no idea of the numbers or willingness to learn. After all why let that get in the way of a good story!
The costs are $7m a month (as shown by my numbers) so it won't - and any improvements they've made to costs will be swallowed up by the increase in difficulty. I've reproduced the exact numbers in he accounts so if you have any other numbers that you feel prove something else then please share them - otherwise I prefer to put my faith in the reported accounts and what we know of since and not the odd random number that you keep throwing out.
Stop spreading so much FUD Hexam x;) bang out of order.
The rampers and the mad never looked at Argo's accounts, they won't start now x
50K btc with 140btc a month create 7M USD a month will generate a healthy profit.
Q2-23 numbers are available everywhere. They are driving costs improvements too… i shared the numbers.
36k btc price - 140 btc a month is sufficient.
For goodness sake. Here are the actual numbers (excluding one-offs etc.)
H1 2023 ($m)
Revenue 23.996
Less
Direct Mining Costs 13.809
Depreciation 12.047
Staff costs etc. 9.752
Interest 6.335
This adds up to a revenue of $23.996m and costs of $41.943m so a loss of £17.947m
They mined 947 BTC so the costs in H1 were $44.3k per BTC mined (or $41.2m in Q1 and $47.6m in Q2 if you do the quarterly numbers separately).
They are now mining less per month and so it is probably around $50k BTC they need to break even.
I don't know where you are getting your numbers from (or more likely how you are interpreting them) but they need $50k BTC to breakeven (or $100k post halving assuming other miners don't halt production before they do which is likely as they have the weakest balance sheet).
On a cash basis it looks much better (probably around $36k now to breakeven) but that assumes no new capital spend so no new machines and hence the position will continue to deteriorate.
Different animal then. Even PW was popular. Fair enough to trade here but to invest in this based on the halving......sorry mate you need your head tested x
Mara, Another 100M mcap up 5 min ago … wooow
ARB next!
MARA now 300M mcap up since yesterday morning … flying
ARB starts soon!
Was holding a simliar amount back in 2020 and made over £500k from this thing.
Wow I'm sure that will create some massive panic in the whole crypto market lol
Down 1.5%
Q2 net sale was close to 10M usd and net income -6M usd.
So at 16M they would be zero!
As well when you listen well the improvements they did you would know that 15M is enough.
36K btc / 140BTC a month make 5M revenue.
Cheers!
Added another 50k shares, holding over 700k shares now.
Btw - my average is 34p so I'd very much welcome a move up. But it won't come from fantasy numbers.
The costs were about $7m per month in H1. You're probably forgetting about depreciation - most people do but machines cost money and they regularly need replacing - so you can't ignore it.
Typlcal johnny-come-lately ramper - doesn't understand the numbers. Or the business.
I think you read them wrong mate. Classical trolls showing up when great movements happen …
I have looked at the books. They do not make profit at 36k. In Q1 it was about $41K and Q2 is was about $47k. I think you are reading the wrong books.
They dont need any other bitcoin number. Core and non core business should be good from 36k onwards / 140BTC a month. If the price goes above 40K and stay there in Q1-24 we will have a great quarter. Also upto BTC price in Nov/Dec - could be positive too.
Https://youtu.be/l1pzFbpIlwY?si=hcfUiHraEZw4XMeF
Good time to listen to the Q2 business update. With the increasing BTC price and cost/performance improvements- future looks good!
Or genuinely am i looking at that too simplistically !