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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
Anyone giving CORZ a shot?
Great news.....it's that cream rising x;) Agree 404x sets the tone again. Let's see what kind of rise we get from the sp on this, looks nice pre market but hoping we get that CLSK love, maybe some shorters might let it go but not 100% sure on that!
Very pleased Fred announced this. They had 42 EH paid for a while back and was keeping that 50 EH target for end of 2025. The best part now is that forward guidance for 2025/26 should come shortly, that target could quite easily be 80 100 EH.
GLA
Great Mara news, held off selling the other day. Sometimes a bit of luck needed
That's excellent cheers 👍 Looks like they've finally addressed the value destruction, sets a high bar for rivals now. Best part: "there is no need for us to raise additional capital to achieve our objective"
Marathon Digital Holdings Increases 2024 Hash Rate Target to 50 Exahash
Marathon began 2024 with approximately 24.7 EH/s energized and had been planning to grow its hash rate by approximately 46% to 35-37 EH/s by the end of the year. Based on current machine orders and available capacity following its recent acquisitions, Marathon now expects to grow its operations to approximately 50 EH/s by the end of 2024. The new target represents approximately 100% growth in hash rate during 2024 and is fully funded based on Marathon’s current liquidity position.
“Given the amount of capacity we have available following our recent acquisitions and the amount of hash rate we have access to through current machine orders and options, we now believe it is possible for us to double the scale of Marathon’s mining operations in 2024 and achieve 50 exahash by the end of the year,” said Fred Thiel, Marathon’s chairman and CEO. “With our current liquidity position, this growth target is also fully funded and there is no need for us to raise additional capital to achieve our objective. By deploying state of the art equipment and our own proprietary technology, we also believe that we can improve our fleet efficiency and approach 21 joules per terahash as we grow to 50 exahash.”
lol argo don't have a miner to **** in or a window to throw it out of but punters asking are 'dividends' due ffs.
if i was chippas and reading the room, i'd try and keep this charade going for as long as possible.
If those direct costs are accurate Argo will bleed cash like nobody's business and be wiped out in no time but with no cash figure needing to be declared until the interims Chippers can obscure the true state of affairs until August.
You'll hear nothing unless an equity raise lands before August.
Difficulty has actually increased around 10% vs the average in q1 too so I suspect direct cost per Bitcoin now is about $34000 x2 for the halving.
I watched the entire presentation and q&a for a change and it’s clear there’s absolutely no strategy to get themselves out of this situation besides putting on a brave face and remaining publicly upbeat in the hope that a BTC price surge translates into an Argo sp price surge and enough interest to place again. Personally Thomas will be focused on reaching this November vesting date to receive his ~1m ADR shares and then in an ideal world the next November and the one after too.
If we had the less than 2 cent electricity we were sold we'd be laughing just now.
Of course if we had the
Yeah, even if we assume they were making 10k a coin in cash (which is likely not the case), then if they mine 50 coins, they are generating 500k cash a month, but the interest payments we know are more than that, and that doesn't account for the wages of the 30 staff. Actually it might be less than 30 as that was the average for the year....
My experience was my questions never got answered. To the layman it sounds like they've answered all the questions, but there's clearly an element of pick and choose.
Hosting agreement we never got any detail on, but it does expire at year end.