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All looks very promising lads.
Big month ahead for Q1s, then I reckon maybe more importantly the reports for May, opportunity for market to truly scrutinize where the chips have landed for everyone in first full month post-halving. So if Mara are starting to fire on all cylinders again now could be ideal timing.
Q1 results will hopefully will move this dog. Market surely can't ignore these FASB figures. Hopefully no more ATMs for the moment.
Notably, the AI3680 boasts a hash rate of up to 375 TH/s and a power efficiency ratio of 15 J/TH.
This company have Auradine miners on site and running. Looks awesome
https://twitter.com/FogHashing/status/1784598675630764043
Mara so much more than a BTC miner, sooner or later this will all be priced in, until then ill keep adding.
The having, the lower fees we are now seeing (back to normal) and the lower bitcoin price are the cause. Think we are at our near local bottom and will resume up soon.
Hash rate still slightly above halving hashrate (about 1% up since halving)
The newer machines are much more efficient, so if you replace an old model with a new model the hashrate goes up.
Lol looks like mara running 50 EH already.
Global hash price taking a beating 6.9 Cents per TH/S it was 11 cents last Friday. We are going to see old miners come off the network now anything running over 9 cents per kwh are losing money on old gen miners. This is bullish for MARA but the death knell for the kid that runs this in his garage/cellar.
40+ e/h and 9 blocks in the last 24 hours :)
This is what will help Mara's share price this week far more so than +/- $1500 in BTC price. Let's hope they keep powering on!
GLA
Cheers mate 👍
It touched $80 in November 21 yeah but there were 100m shares in issue then so the record mcap is $8B compared with today's $5.2B.
Didn't mara hit $80 at one point ?
Difficulty is around 4x 2021, while rewards are near half. On the plus side machines are 2x more efficient.
So the margins are nothing like 2021, and to make money you need those newer machines and low electricity costs and overheads.
Out of the miners only really clsk has performed well so far this cycle on the share price front.
However results for 31 march will be impressive due to FASB, and a favourable bitcoin price change from end dec to end mar. especially for miners with hodl, mara having the biggest hodl.
Market has been indifferent up to now.
What's the investment case for the NA miners at the moment? From where I'm sitting the halving has come and gone, fees have fallen back to normal levels and so miners are back making the equivalent of ~$35k pre halving?
Is it a case of picking those with a large HODL in preparation for an expected surge north in the BTC price?
As I mentioned the other day I averaged down the other day but got nervous of holding overnight and sold the top up but bit the bullet yesterday and bought back so now averaging 22.4 in mara ..would like to get a cushion and put in a stop loss and just leave it to rise
Bought some too. FASB profits are going to be massive, 400 mil or so.
Just bought another 5k of mara chasing my loss here
I don't follow Corz like I used to but their daily mining reporting gives a little insight into what's happening re fees and post halving, albeit I think they're also installing new machines alongside. Here's the last few weeks for example:
April 12th: 32.3
April 13th: 30.4
April 14th: 29.5
April 15th: 31.7
April 16th: 29.1
April 17th: 29.7
April 18th: 30.1
April 19th: 30.8
April 20th: 57.3
April 21st: 25.2
April 22nd: 21.2
April 23rd: 25.2
April 24th: 19.6
April 25th: 16.2
100% agree; absolutely not a recommendation! Suits me and my investment strategy though.
Once again thanks for your thoughts 🙏🏻
Btw I'm not suggesting you should buy it (or anyone else), you never quite know with Corz and it doesn't get the same surges as others, but I do like an underdog
Might be a value trade for me at some point then.... Love a good re-rate. I'm guessing they'll run late though.
As of March they're down to 26.85 j/t - currently deploying S21s will pull that down further. Presumably they'll be ditching the regular S19s now halving's happened too. They will never be the most efficient miner because of over-expansion in last bull - but then they're not valued in the billions either. When economics improve at least machines are always readily available, whereas MW pretty finite, and they own more of that than anyone.
Thanks, good to know they've got new management in - but the 30 J/T needs to change. They have good power costs at 4.4, but not exceptional. I think it could be a wise move to sell some sites and use the funds to upgrade their fleet - depending on what price per MW they could get.
Keep in mind that with 15 J/T you get twice the hash in the same amount of infrastructure so you could end up with near the same hash but with lower input costs. Or just do the usual bitcoin miner method of diluting shareholders to oblivion.
Thanks guys… Personally gone on quite hard as I believe the fundamentals lean towards great growth BTC dependant obvs. 👍🏻
Why did they go bankrupt in the first place?
They didnt do places vs RIOT and MARA. CORZ went and borrowed the money for its machines etc and that set the tone when the bear market came in, and then the BTC hodl was a forced sell and then the 120 milion ATM they had with RILEY i believe, fell apart as the sp cratered. they were unlucky tbf.
I am looking at them thinking they are still undervalued but all of them are imo. More MARA for
me at this time!
GLA
The bankruptcy came about as they borrowed an enormous amount in the heady 2021 days when lenders would throw cash at absolutely anything while fed rate was near zero. Old management presumably thought btc would go up forever, but by December 2022 when btc dropped below $16k, there was no way they could continue to service that debt.
Nothing more sinister than that really, but that baggage has probably fed into market perception and held it back, because compared to peers it's priced at rock bottom. The good news post-emergence they have new management and despite the financial woes they've been consistently top tier operationally, maybe the best imo - helps that they own all their own infrastructure.
I calculate these remaining 22.2 EH of machines would be 16.6 to 17 J/T to achieve the average 21 J/T for the full 50 EH.
They'd also have an option to backfill some of their existing older machines with newer machines which might be a good option also. The 30 J/T machines need to go, unless they have exceptional power deals.
I think they may have timed this news release very well. Might move some shares around later on.
I'm not sure about them. Why did they go bankrupt in the first place? Their presentation is giving a guide of around 30 J/T fleet with 4.4 cent kwh costs, but on another slide they gave a cash cost of 15k to mine, but my calculations yesterday show that with these figures you're looking around 50k post halving direct costs at current network hash so I don't think they are generating much cash.
Share count will go from 177mil to 402 mil on conversion of Notes/Warrants which is 2.27x the current count so you have to take this into account for mcap. It would extinguish debt and give them some cash, however they need to upgrade their fleet which will be expensive.
However the fact that they went bankrupt means I'm reluctant to touch them so think I'll leave it.
https://s29.q4cdn.com/356375974/files/doc_financials/2023/q4/FINAL-CORZ-FY2023-Earnings-Presentation-031124.pdf