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I'm holding Mara just now and figure the 1.5 bil atm from last time is enough for now. Let's hope they don't up the limit and perhaps release some investor friendly news instead.
Yeah strange, Nasdaq site and everyone else reported earnings release as after market close too. Maybe the Mara clash was accidental after all, so they brought it forward to avoid. Either way good for sector it and Corz results pretty well received. Just need to Mara to avoid dropping any banana skins now.
Mara's results will eclipse CLSK's due to FASB giving them around $2 EPS. Makes sense for them to release pre-market based on this and looking bad vs MARA, however certainly wasn't expecting it and they should have given warning as their news item had said "Results will be released after the close of regular trading on May 9, 2024."
It seems that IREN is becoming the new CLSK and getting a lot of attention.
Shots fired for whoever scheduled their earnings date second out of Mara and Clsk. Bit awkward when there can only so many analysts covering the sector to go round. (Bet it was Clsk.)
Yeah as things stand we are likely to see revenue for Argo halve since the last full month pre halving - $7m to $3.5m. Coins mined equivalent will be more like 45% down but the lower BTC price since those ATHs of March cancel that out.
Since March you have fees up, difficulty up, BTC down
Fees are .1 to .2 just now, you can see it with your own eyes. If Runes pick up again then it changes and we see large fees, but for now you're looking at a 45%ish drop in revenue (in BTC terms - obviously BTC price jumps all over the place).
Fees column here:
https://explorer.btc.com/btc/blocks
Yeah I accounted for that as you'll see in my post.
Even with that difficulty adjustment downwards it remains higher than it was on average through March plus BTC is slightly lower through May so far than it was in March - March saw btc ATHs don't forget.
My $3.5m figure wasn't plucked out of thin air albeit there's still all of May to go for the BTC price to rise.
***logged in on too many old laptops and phones haha
Yeah I accounted for that as you'll see in my post.
Even with that difficulty adjustment downwards it remains higher than it was on average through March plus BTC is slightly lower through May so far than it was in March - March saw btc ATHs don't forget.
My $3.5m figure wasn't plucked out of thin air albeit there's still all of May to go for the BTC price to rise.
Difficulty adjusted down by 5.6%....
Yes micoley your right ! lets see what the next updates bring...there are too many legend's in their own lunchboxes on here who know every thing about every thing.. lol...
We'll wait and see from the next few updates where we are, you're making far too many assumptions, all you can give is an estimate yet you talk like they're fact.
Micoley as things stand we are actually talking a full 50% drop in revenue - Corz has been a very useful barometer and they've dropped from an average of 30BTC mined per day to about 14.2BTC over the past week.
As things stand with BTC back at $60k Argo will post ~$3.5m revs in May which is exactly 50% of the last full month before halving ($7m revs March)
I don't think you can say there's no impact but also you can't say the full 50% drop in revenue for ARB, it's just a waiting game to look at the next couple of months figures, the bitcoin difficulty adjustment is going to take place in under an hour so will be interesting what that sets to.
It’s nonsense, for a couple of days following the halving the number of coins minted barely changed but from about the 25th April that shifted to a straight halving.
The latest difficulty adjustment downwards will boost production numbers slightly but we’re still talking close to 50% of what was being mined in mid April.
I'm optimist but I don't think that's true when you talk about the amount of BTC, the average BTC returned since halving is 4.335397481 per block and that includes transaction fees and also the large jump in transaction fees just after halving,
Before Halving the reward itself was 6.25BTC per block (without looking at transaction fees), so there is more than a 12% drop in reward returned compared to pre-halving.
3.125 BTC is the reward and at the moment the average btc reward since halving is 4.335397481 so it isn't the full 50% that some people were saying but over time on the current trends I'd expect this average to drop as the transaction fees become less. To be optimistic there could in the future be new protocols released on BTC chain that bring the transaction fees up, we'll just wait and see.
Bitcoin halving has only attributed a 6 to 12% decline in number of BTC mined.......its not a true halving as sorts so wont be a definitive 50% drop in mining revenue or number of BTC mined as SOME people on here have stated !!! its NOT a true halving so to speak ...DYOR and make your own minds up / research instead of listening to the few TWODDLERS on here who keep spouting doom & gloom. !!!! see you all the other side of 150k BTC , coming soon to a miner near you. over and out.....GLA.
CLSK it depends on when bitcoin runs... if Argo needs to raise in the meantime and investors aren't willing to take on the risk of supporting Argo with the hosting agreement termination looming without a steep discount then you could be talking very steep dilution at 5p. If you then reach the interims with all the poor financial info out there does a BTC rally to $100k in Sept/Oct drive the Argo share price back up from 5p to say 30p and will investors actually support another raise to wipe out the debt?
With every week that passes the chance of this turning out well gets smaller and smaller.
They've been doing share placings every 6 months ish, so I certainly wouldn't be against them doing one within the next 2 months. If anything they should have done it sooner. Perhaps they wanted to wait for halving to justify it to battered holders the bleak financials that await. Only question that remains I guess is size of discount. This time they might as well do a hail mary and smash it down to raise as much as possible.
Seems a bit high HC.
I still think they eek it out until Galaxy kicks them out, and I still think Bitcoin runs before then.
But will there be enough demand to close out the debt via a raise? It would have to be a pretty heated run.
There's no story for investors to get behind. Even QBT has a better story and will likely out-perform.
With the difficulty adjustment downwards Argo might see revs for May at the dizzy heights of $4m.
Flatline isn't necessarily a bad thing, it can equally mean that investors are just waiting for that confirmation before diving in....perhaps a merger? Perhaps a heavyweight appointment? Perhaps even an acknowledgement from a global figurehead......only time will tell. Remember, its just gambling.
Argo sp has flatlined today, looks like some ominous news is on its way.
3.5 Million revenue for May already has a lot of questions.....Wonder how long this can go on, past its hosting deal with Galaxy.
I certainly waited too long and missed out on this 15%! Drat.
I notice Argo isn’t rallying with the rest of the miners now.
Mara flying again
Kpa. an average of 21 dollars in mara is not the greatest average but you will be ok just by holding from here up to 10 months. just forget about buying on spikes because that does serious damage to your average.