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Chaebol, it’s 4.30am in Thailand, get to sleep.
AB, FP, I really hope btc starts going up soon. Helios has huge potential.
Well they certainly wont ever need to build out any more infrastructure PI :)
800 MW is a far distant dream at the moment though. £1 billion away. Not worth even mentioning it while btc is where it is
PI there was a strong hint of something in the works for the next 600 build out, but now that BTC price has gone the way it has perhaps that is no longer on the cards - who knows....
FP, I normally might of agreed with you, but the current crisis has really given ARB the edge, in 6 months time most miners will be trying to add infrastructure and cheap energy, whereas arb have already done that. ARB just needs to keep adding miner machines and mine some Bitcoin.
What surprises me is, no offers have been made from other miners to take up some of Helios space. Maybe early days yet.
The rampers up against it if theyre getting you out on a sunday night pi.......
To be fair since your 50k Superbowl shout that collapsed like all of your predictions thus far, what have you called right pi?
Id look up credibility and start applying or filtering your deranged posts ! Argo was gonna be 2 quid in your orbit right now according to some of your posts and now you tell the board to keep this one for posterity.
I think you need to get mentally analysed with some of the mayhem you've posted x;) your a danger to your wealth, the loans you have and the subsequent drop in argo proves this.
Really worry about yourself mate as you could be in a lot of the brown stuff soon x;)
Evening PI
yes your certainly right there ,infrastructure & energy cost are certainly going up .
My point was , there was other ways to progress rather than going whole build out & having so much of helios unused.
Extra Mining which pays for everything was sacrificed for a whole year. ( the machines installed sept to dec 2021 where late and where originally planned july 2021
I said at the time all other mid tier miners would out mine argos average over this year even if 200 MW is up and running .
Thats why I pulled my money out and change to a trading strategy.
I will be a great position to capitalise when things pick up rather than starting in the red.
So hopefully early next year we will see a big boost here
“Argo had many other options, but they chose to concentrate on massive infrastructure before mining rigs.
They could of replaced all the 3 year old s17 & t17 with new rigs instead of building out so much in one go at the expense of such a terrible low mining numbers for the last 6 months for starters.”
Hi FP, it’s the infrastructure that gives ARB the edge over the other miners. The mining machine prices are coming down, where as the infrastructure and electricity prices are going up. Save this post of mine, and remember me for it. Helios is scalable up to 800MW. Once the have the first 200MW used, most on here will start singing arbs praises, only a fraction of machine are installed yet. This is a long race. People are jumping the gun in my opinion. No matter what happens, October’s figures are going to be very good and so forth.
In my honest opinion, do your own research. Chaebol has no credibility.
Macro doesn't make sale and leaseback for an investor all that attractive at the moment either.
Hi Wolf,
I don't think there is any finance secured against the Helios building so it's probably only that and PW's beard that they've got left to act as collateral. Mind you the bond issue last year was unsecured so they could go down that route again but hard to see it being on attractive terms given the current state of the industry and the total debt ARB already has.
“Is there any finance secured on the Helios building Hexam?”
Not there is not.
There are small mortgages on the Canadian properties.
Usually a company would just keep refinancing or if it had excess cash start paying down debt.
Worry now is what happens when they come to re-finance as the number of options must be limited and the underlying asset on which to fix any finance doesn't offer much security.
Is there any finance secured on the Helios building Hexam?
Thanks for posting that link on the BIS news AB.
Perhaps one day one of these 'increased adoption' stories will prove a tipping point but generally they don't seem to be having an impact individually or cumulatively on BTC value. So I don't pay much attention to them especially as I don't think even if BTC was 'fully adopted' it necessarily means a much higher BTC price anyway - but maybe that's just me being more worst case scenario again ;-)
Just further acceptance - obviously we have to get through the bear market but I'm confident with Argo and not concerned with the Bears narrative (most of it stinks of desperation). I know you're more worst case scenario than I and it is always a worthwhile exercise, but I think we're getting a decent update next week.
After two years though it hopefully won’t be a problem (or on the gloomier side, won’t matter)!
What news???
Thanks Hexam. Ultimately it has to be repaid, but hopefully BTC will be in a better place when they pay it off.
Did you see the bis news?
Pretty sure it will be interest only with capital repaid on maturity - would be very unusual and too burdensome if not.
Not clear from the RNS, but has two year expiry on the newer nydig one (up to usd70.6mil), so if this is all taken, monthly interest would be usd706k (12%), which is 37btc just now. If repayment straight line this would add 2.9mil each month, which would be 152 BTC just now. Would be good to understand if repayment or not.
We know the weighted interest rate is <10% but I would just use 10% as the figure. Do we know if they are interest only or repayment type loans? I should know this....
You had this sussed a long time ago Hexam, the numbers just dont add up anymore!
I hope not as the $112m doesn’t include the additional NYDIG funding (up to $70n or so)!
No, it’s the value of assets (and particularly those used as collateral) that really matters which is why I’m so keen to know the position with Galaxy.
If the mcap of Argo falls below its debts are the loans immediately called in ?
currently Mcap 185 million usd debt 112 million usd ? Not much wiggle room and another 40 percent drop in sp and its getting called?
Many of us were doing that three weeks or so ago, the problem is bitcoin has fallen lower than almost anyone expected and now there are NO miners that we could safely say will survive this bear market if the price trades below $20k well into 2023 which is a very real possibility.
Whilst a bitcoin recovery is very much not on the cards I imagine what the miners are all praying for is a relief rally to $28-$30k for a chance to free up cash 50% higher than today's price and possibly try to raise funds whilst the mood music is a little more positive - those that make the most of any dead cat will outlast those who fail to.
The thing to be doing right now is establishing which companies survive the bear market & which do not. I have sold positions I had in companies I do not believe will survive this downturn and moved the money into companies that give a more certain longevity. Picking which miners will or will not survive is brave at this point.