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Actually 'top-slice' and 'taking profit' are different as taking profit can refer to selling all your investment whereas top-slicing only ever refers to selling a part of it. Just saying for those that want to get the jargon right if that's really important to them...
flowerpot mate, i know you're new but in the trading/investing game we call a 100% return a 1x. Please don't type a defensive response or insult me. Just learn and move on.
Now you know 'underwater', 'top-slice' (although I just prefer the term "taking profit"), and 1x!
You're welcome!
Another good example for people to top slice miners, especially when they have just 2x in 3 weeks.
With them holding 6X Ago's hodl looks like a good time for a top up there
*costs per BTC mined (not per EH)
AB - Yes about 10-15% of their BTC comes from their ETH mining (like ARB with their zcash they convert/get paid in BTC directly). They do indeed have an additional business ('High Performance Computing') which brings in currently just over $1m per month in fiat revenue. A nice to have but could be a distraction.
Other concerns about HUT are there efficiency (not that much better than ARB) and their costs to mine (without overheads) per EH look a bit high but their overall costs per EH are not bad (and lower than ARB in Q1). I think at least part of this is due to them including more in their 'cost of sales' and less in other costs.
Will be interesting to see how they compare with ARB Q2 but it will be an unfair comparison I think as ARB had such poor Q2 mining numbers (especially May) which will distort the metrics as a lot of the issues were temporary (hopefully).
DSFLAT, I have said it numerous times on here, Argos long term strategy is the best out of all the miners, with them acquiring Helios, they have become really scalable compared to the rest, hopefully the sp will start to reflect this. (All arb now need to do, for the next 5 years is, slowly keep growing Helios), Helios will soon become the envoy of the mining world. Imho DYOR
Hexam, makes sense to hedge - my concern with Hut (and Hive) is that they are mining ETH, but this is likely switching to POS next month, which gives a lot of uncertainty. The ETH miners are saying they can switch to ETC, or another coin, but I suspect there's a ton of ETH hash that will also switch, making it not economical as the hash rate would rise too high for these networks. There's also uncertainty around what will actually happen with ETH on the change, whether it will be a non event, or if it is problematic or worse. I hope it goes through ok though as I don't want BTC being impacted by it! HUT also bought into some other non crypto business I thought - which isn't what I'm after - but maybe that's going well.
I breezed over these ATM's on the QBT board this morning.
RIOT have used $300M of their ATM (think it was $500M facility)
BITF have been chipping away at their ATM (think it was $500M Facility)
CORZ just released news of their ATM ($100M)
MARA have been using their ATM (think it was $200M)
HUT has been covered here already...
The Q2 financials for the US miners don't paint a pretty picture albeit it's really only snapshot when Bitcoin has been on it's knees. The info is being collated by 'PatientBill' on StockTwits.
Argo came out quite well in his Q1 calculations, waiting to see how Q2 stacks up. RIOT doing better than most on cost to mine one BTC which is encouraging (assumed helped by the credit)
They have a different approach to Arb (and others), not saying it’s better but good to hold both as a hedge. Yes, raising money not so good at low sp but they haven’t had to sell any BTC at low prices like many - and this raise pretty much ensures they won’t have to in the foreseeable future. Swings and roundabouts.
Don't get me wrong I'd love Argo to have 200 mil extra capital, but would prefer it was not raised at the current share price. Riot and mara raised well in the last bull run. I'm not up to date on hut but wasn't sure they were going in the right direction last time I looked.
As a HUT holder very happy with this. May hurt sp short term as more supply of shares and some may react to ‘dilution’ but can only further strengthen an already strong balance sheet which is why I went for them in the first place.
It's an ATM (At The Market). Seems like they already had one on the go:
"Prior to commencing the ATM Program, the Company terminated the at the market offering agreement between the Company and H.C. Wainwright & Co., LLC related to its previous at-the-market offering of Common Shares for aggregate proceeds of up to US$65 million, which was launched on February 11, 2022."
Pro's:
Gets capital without a market discount.
Shares get distributed to many buyers, rather than a concentration of shares to a few buyers.
For existing holders this is best executed in a high price, high volume environment.
Cons:
Effectively this suppresses the share price, as they fill demand with new shares that would have otherwise driven up the price. Bitfarms did one - think it's still ongoing - and it has held the share price back.
The longer it takes to complete, the worse it is for existing holders.
https://www.prnewswire.com/news-releases/hut-8-mining-launches-at-the-market-equity-program-301608005.html
$200 million equity raise??? Not read the details but thought I should post