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All miners starting to tick up now, here we go
Doesn't look very strong. Some of the miners (e.g. RIOT) are slightly down. Hopefully, that will change if BTC moves up.
Delferg53, you might say that but when I do, I'm accused of being mentally unstable and paranoid. There are many, millions of pounds to be made by diverting retail selling in London to the p.m higher ADRS or OTC markets via nefarious routes. Take today, circa 135p on NASDAQ out of hours transactions. A circa 8p gap per share, 80p for one ADR. Illegal, sure but so lucrative as to be worth the risk. That makes more logic than any other fanciful excuses. Furthermore a proportion of these "ghost" shares can be used to keep the UK SP down. IMVHO
Looking like premarket open @ 1.30. Hopefully we'll see us move up to 1.35 by close?
$17.95
+0.12 (+0.67%)
DATA AS OF OCT 20, 2021 8:11 AM ET - PRE-MARKET
Just proves how pathetic the London market is. Nasdaq up London down.
Pre-market prices aren't terribly reliable, but it's certainly not bad news.
Looking like a bargain this side of the pond if that pre opening price is correct
Current Pre-Market
$18.46
+0.63 (+3.53%)
DATA AS OF OCT 20, 2021 7:45 AM ET - PRE-MARKET
*************
Equiv= £1.34
GLA LTH
ref power co's getting involved:
https://www.theblockcrypto.com/linked/121444/bitcoin-mining-stronghold-127-million-ipo?utm_source=cryptopanic&utm_medium=rss
Argo gets a mention in the article
Yup - I referred to that last night.
This is why Michael Saylor is the Steve Jobs of Bitcoin - statements like that stop conversations and open jaws.
Why?
Because he's right and nobody else though of it before.
If you're the CEO of a big electrical utility company yielding a whopping 1x to your shareholders (with no growth possibilities at all - none - in fact it's going backwards) then you are actually under threat from companies with genuine growth (and mighty financial backing) and a desire/need to make money from that surplus energy you're not using or selling right now.
Utilities are defensive stocks, we all know this but sprinkle a little growth fairy dust onto them and maybe that 1x starts moving up - for the first time ever - happy shareholders, big pay rise for the CEO, cheap/free energy for miners - everyone wins.
Last nights Mining Council form led by Saylor was interesting on the discussion of future/near term positioning of Power companies.
The option put forward from MARA of a Power company arriving to mine at scale in the next 3 years is a real one.
Saylor's view of Power companies being in the position of having to really decide to mine or not, and if they don't then risk being bought by the larger miners as they hit 20-30 x Revenue on revenue of 1Bn, when Power Cos make 1 x Revenue and have wasted power is stark.
Partnership is of course another likely route forward.
I can't help impatient PIs unfortunately - that's their own head battle they have to win.
The MARA engineering focus is fine early doors but big money speaks a different language, cycles, longer-term, growth etc. MARA have shot out in front with the cash + HODL which is the right thing to do early on but cycles change/mature over time and that's where we're at now.
It's very clear to me that Argo & Peter Wall are being groomed.
Think of Saylor/Wall & the MARA guy in the spirit of Steve Jobs & Steve Wozniak.
Bonker: interesting comments, because yes our training and background influences our thinking. Even the RNSs from Mara are imho purely on number crunching and at times dishonest imho. For ex stating we will produce “x” coins by mid 2022 and generate “y” revenue of bitcoin price is “z”, is ridiculous. It ignores the mechanics/equilibrium between hash rate, difficulty adjustment and price. But the market loves it. Market hates a company that stays quiet on future coin numbers or revenue. Because frankly it’s impossible to predict.
On the style of thinking, PW and others (Seb for ex) are looking beyond 4 year cycles, even counter cyclically. They disagree fundamentally with Maras model of throwing the kitchen sink at miners. So no chance of that merger if this team stays in ARB. I like the fact ARB is trying to differentiate. But it’s still valued essentially on its mining business. That will change eventually but not before we lose a chunk of impatient PIs.
One more point:
Reading forward here, what you're going to end up with down the line is M&A as an absolute certainty.
That means bigger fish buying smaller fish.
MARA, in terms of cycles, are likely to end up topping out well ahead of Argo whilst sitting on an absolute sh*tton of cash and HODL.
Do they then blow a ton of capex on new kit to keep themselves in the game or do they simply buy out the up and comer with the good kit/better facilities/more business savvy CEO to keep the growth going?
MARA's guy as Chief Engineer partnering with Peter Wall could be quite a pairing.
There's no particular reason why it should. NASDAQ has an opening auction, just like the LSE, andthe opening price will be whatever price maximises trades in the opening auction. It might be very close to the London price, or it might not.
Quick ques. Won't ARBK open trading at UK price at 230pm when it opens?
Last word on the MARA guy vs Peter Wall.
I'm an engineer - I recognise engineers by how they think and talk - the MARA guy is an engineer.
This sector is/was about engineering in the early stages but as it matures, as it clearly is, it becomes more about business.
Peter Wall and Michael Saylor are businessmen - they understand short/long term cycles in investment/costs/revenue/profitability etc.
Again, at the current stage of the BTC life cycle, these are the guys you want running the show as the sector balloons in the coming years.
30x mcap valuations?
There's a reason for that - I bet they hit 80x - this is Amazon/Google 20 years ago, you've just got to see it.
Some great post from everyone today!
Keep it up as great info all round
Pre market Nasdaq £1.34 equivalent looking good
A lot of USA PIs will never have heard of Argo of course - last night was the first time most of them will have seen Peter Wall front & centre and certainly the first time they could see/hear him and buy the stock.
The comments in the youtube chat were very positive about him from what I saw - he was the only one out of the eight who could put a proper presentation together apart from Saylor of course - I know where I'd put my money ...
MARA are bigger than us but they've got big bills to pay down the line when their kit isn't up to snuff/breaks.
We've got the cool looking CEO and the cool (literally) new kit ;)
Only a matter of time IMO
Volume in the US seems to have gone up this week so hopefully that will continue.
I hope so K3VMC. I must admit I'm baffled by the SP performance since BTC's rise to an ATH and our NASDAQ listing with funds raised. We got exactly what we wanted. Apart from the obvious!!
I think we are going to do well this afternoon, £1.35/1.40 close
Btc at $65k+
its not going anywhere whilst someone is dumping stock Mr 50k seller has been active every day since the IPO .... They will run out of stock eventually but when ?