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Started: red_rag_to_bull, 18 Jun 2024 20:11
Last post: misterbeck, Today 12:52
$WULF DAPP VanEck Digital Transformation ETF bought 57,2421 shares of WULF yesterday and now owns 3,322,618 shares.
Agree btbt due a run.
Current pick for me, outside of APLD is BTBT. By my reckoning, it is the only small cap miner not to have started rerating yet this past month. Chart looks ready to burst and ETH ETF news a possibly catalyst. HODL and cash more than 50% of its mcap and due to announce more AI business any day now.
Will be keeping an eye of CORZ dips aswell. Ideal would be BTBT to fly and then move into CORZ on a dip.
Crazy !!! But this game makes us do crazy things
Https://www.hl.co.uk/shares/shares-search-results/v/vaneck-vectorstm-digital-assets-equity-ucit
Always a fund like this which invests in a number of the miners as well as Microstrategy, coinbase etc.
Started: AmyStake, 20 Jun 2024 13:09
Last post: AmyStake, 20 Jun 2024 13:09
Is the bottom in for now? Short term uplift?
Started: Kpa1, 19 Jun 2024 22:04
Last post: misterbeck, 20 Jun 2024 09:24
COIN + MSTR have proved great investments over last 12-24 months. Small cap miners have made some big moves in last 4-6 weeks - big cap miners have become shorting targets for hedge funds but hopefully can recover soon. Maybe good to have some exposure to AI too imo. My PF currently includes WULF, MSTR + APLD. Would recommend DAGB if you are looking for a stable diversified crypto stock.
Have you thought about buying Coinbase or Microstrategy shares.
Bought them via my ISA in June 22 & since then price has gone up roughly -
BTC x3
Coinbase x4
Microstrategy x6
Anybody here actively adding cash and buying crypto in coinbase....i opened account but not bought any yet ...obviously can only but tiny percentage as so expensive
Started: AmyStake, 19 Jun 2024 10:44
Last post: AmyStake, 19 Jun 2024 10:44
ETH looks better than Bitcoin in terms of strength. But both nicely off their lows of yesterday. Some signs we might be getting a sizeable bounce
Last post: dagenham, 18 Jun 2024 21:08
So as i was on about this early on the day to see what miner out of the main miners showed real positive strength on a general poor day for miners and bitcoin yet again. and look at what sticks out like a sore thumb. it does not come as a surprise for me. terawulf. up nearly 3 percent with a strong finish on a bad day.
Misterbeck. i think we just need to get the next 8 or 9 months over with from here. get out with a load of cash and sell the lot and that means all miners. it could take up to 3 months from here for a true parabolic move to start with bitcoin. if so it is critical an 8 / 9 month outlook, very good stock picking from the secter and diamond hands. otherwise the day to day nonsense with bitcoin just goes on and on.
Good to hear 404x. I am playing it in the hope we see a spike if/when this hyper scaler that wants their Ellendale MWs gets announced. The site is supposed to be going live next year, so expecting the hyper scaler to be announced soon.
Corz I think is still a great bet under $15.
I have a bit of applied digital also. like said it is up 100 percent from lows and if buying in be careful your not spiked with applied digital. 3 dollars was the best price to get in but would not surprise me if it went a fair bit higher. .
Jimmy_Stocks fwiw I like and hold a bit of Applied.
Upside for me is it's less exposed to btc price than pure play miners (I hold those too), but same exposure to infrastructure which obvs in mega demand at the moment from AI arms race.
If you compare the ratio of MW to enterprise value vs any other miner, it's far cheaper - as you'd expect without the btc premium. But I believe that discount will narrow because machines (the only thing that differentiates it from a pure miner) are abundant and fast depreciating, whereas these US sites finite and take years to build and go live. Plus grid hitting capacity means approval for new sites will be increasingly hard to come by. Easier for someone to just by the company.
I went big on Corz for similar reasons, but caveat is this time market is already alive to AI data centre needs so lightning may not strike twice. Another big caveat is it's already up 100%+ from lows.
Started: AmyStake, 17 Jun 2024 13:13
Last post: AmyStake, 17 Jun 2024 13:13
ARB suffering and dripping lower. We desperately need that big breakout higher
Started: LongInvestor, 12 Jun 2024 14:42
Last post: Bowlers12, 15 Jun 2024 09:27
I agree poorinvestor but no time to invest at the moment with being on my cruise
*Excuse iPhone typos )
Agree PI. Good to keep some cash whilst BTC is looking for direction. Although I would suspect that the long term trend will be upwards . Small cap miners all doing well and taking it in turn to make decent runs. The bigger miners victim of sustained shorting attacks Mara especially. Riot just acquired 14% of Bitfarns and looking in a string position for now with little debt.
I sliced some more Wulf yesterday at $4.05 and tipped up in MSTR at $1445 Saylor Raising $500n to buy more bitcoin. Let’s see what happens there. Good luck.
Hi Bowlers, funds don’t do it for me. Bitcoin related stock and nearly bankrupt companies is where I really enjoy investing at the moment, funds have little returns compared to the high risk stocks lol.
I am staying in funds poorinvestor someone has wasted 25 grand today buying Argo shares
It must be Sags haha
Started: AmyStake, 13 Jun 2024 08:05
Last post: AmyStake, 13 Jun 2024 14:58
Yes we absolutely need a parabolic crypto move over the summer that Argo can latch onto. If we get that and some decent sentiment and volume arrives, we could see price up significantly from these levels. That would be the opportunity for the ARGO bod to lock in some substantial money to try and save the company
Thanks for acknowledging my point Amy about the time urgency re BTC price discovery...
Come end of December Galaxy holds Argo's fate in its hands due to the hosting agreement ending and ~£13m loan repayment due. Argo needs to raise £25m+ to have any chance of surviving past that point (and that's just surviving) and yet they only pulled off £7.8m last time at 20.5p so you can see how big of an ask that is.
I believe before late August, before the interims, is when that price discovery must occur if there's any chance of survival whatsoever. Why? Well BTC and difficulty being equal those interims will reveal a cash position in the range of ~£4m-£8m as of end of June and max 4 months left (end of Dec). That's when the sell off really kicks in and we see the late 2022/early 2023 lows again of ~3p.
From there even if there is a last gap btc price spike Argo would have to rise multiples, maybe 10x or 15x to get to the level where they could pull off a big enough discounted raise to get over the Galaxy hurdles - that's not realistic.
So I think the countdown clock is 10 weeks from today.
Ea i think if we get a period of price discovery, with alt coins going mental and the whole world talking about Crypto, then Argo should go on a nice run. For no reason other than sentiment might i add, because as we know the fundamentals leave alot to be desired
Agreed. Markets got ahead of themselves on the CPI print. The Dot Plot showing only one Fed rate cut this year took things back to earth. Nevertheless, it seems like it does want to break north of the range once the conditions are right. What we really need is a period of price discovery after that to get Bitcoin back onto the front page of the mainstream fin-press and for fees to remain 'higher for longer' (to coin a phrase!)
CPI figure was good so everything pumped, including BTC from 67k to almost 70k. Now back to 67k lets see what happens. Gut says more chop then breakout higher
Range is 66-70k for now
Last post: WolfHanna, 13 Jun 2024 09:45
Wow... whoever mentioned TeraWulf thanks.... its ripping. approaching 12 month high and still a long way to go to the last bull market high. fingers crossed thanks again.
Started: AmyStake, 12 Jun 2024 14:42
Last post: AmyStake, 12 Jun 2024 14:42
Strong CPI print. Break this 72k area and could be ready to run hard
Started: AmyStake, 10 Jun 2024 08:30
Last post: misterbeck, 12 Jun 2024 14:41
I might have to get a 2nd Maga cap (serious)
I might have to get a Maga cap at this rate (joke)
Yes the democrats have been largely against bitcoin mining, and now Trump picking up some easy votes.
You should have got out before Amy when everyone depicted Argo demise I actually made a profit on Argo by going in and out of it and overall made about £500 profit on it
Looks like my post got deleted maybe because of what I said about the clsk guy lol? But if anyone missed it or cares, it was otherwise just saying mining being politicised already a big theme this year but now accelerating https://archive.is/VvcQ4
@clskbull Strange times indeed mate, whatever our views of these parties it does seem like a Republican win will now be a clear catalyst for miner stocks.
Started: red_rag_to_bull, 7 Jun 2024 23:41
Last post: 404x, 9 Jun 2024 17:17
Yeah shame that didn't last. Mara did manage to grab a couple of blocks with whopping 4btc+ fees (846899, 846901). Both noticeably very small # of transactions, similar form to those exceptional blocks around halving so at first glance I assumed layer 2 related.
Well, that didn’t age well….
Apparently the pop was due to a big consolidation of small UTXOs from a large miner therefore causing a demand spike.
Avg fees v reward currently sitting at 39.9% at time of writing. It's bumped the hash price up nicely....are miners away to finally get a period of stronger earnings? 🤞
It's actually what we already knew pretty much anyway although the table has a weird format. Having gone over it a couple of times this is all it means:
Chippas has a yearly salary of $400k. On top of this there are performance related bonuses that can either be 50%, i.e $200k per year or 100%, $400k. Finally, which is where the vast bulk potentially comes from, is the 2.85m ADR shares that were issued upon his appointment, with one third vesting each November (2024, 2025 & 2026).
And then to get to those numbers it's assumed that the share price is 50% higher from data of grant i.e ~$1.85 per ADR share.
_________
Still, $400k a year for a cash strapped company with up to $400k in bonuses (with 'targets' being met decided by those two on the remuneration committee) + a huge amount to be made if Argo is still in business each November (with a half decent share price in tact) seems excessive.
Had a quick look at policy. A bit wooly and seems that pay is largely determined by the Remuneration Committee - which is 2 directors. Think they are perhaps marking their own homework? A+'s all round.
Maria Perrella (Chair of the Audit and Remuneration Committees)
Raghav Chopra (Member of the Audit and Remuneration Committees)
"The Remuneration Committee consists of myself, as Chair, and Raghav Chopra as member"
If you fancy some bedtime reading the remuneration policy that was voted on is here (I don't know why they've uploaded the same document 10 times) https://argoblockchain.com/investors/stock-information/annual-general-meetings
It was set to apply for next 3 years so looks like they'll have to go back to drawing board. Table illustrating CEO's max pay (inc shares if targets hit) of $6m+ presumably a big factor behind the shareholder rebellion.
HC - I don’t know the details of the resolutions they were voting on and just assumed they related to payments yet to be made.
If it is past awards though then like you I’m not sure what happens next as Corporate Governance is not an area I’m that familiar with - certainly on this particular sort of thing.
Bali boy Wall wins again. A lot of people bought his rubbish and nonsense. He landed lucky with Argo and then totally obliterated hundreds of millions on storytelling and ensured that Argo will never amount to anything.
Corporate destruction ! when really it deserves some tougher scrutiny, but this is the mad world we are in, and probably still mad investors that will buy into his mayhem, some still do with Argo x;)
GLA
Started: poorinvester, 6 Jun 2024 14:51
Last post: misterbeck, 7 Jun 2024 00:52
Happy days indeed. Great moves by wulf over last couple of days. Back of the net!
Yes indeed; looking good as of late. some shorters gettin outta dodge, and others betting on WULF AI/HPC instrastructure methinks.
Happy days.
Started: BeanCounting, 5 Jun 2024 07:25
Last post: CLSKBull, 5 Jun 2024 20:54
Yeah a good sign. We have to suffer today but if bitcoin and markets hold they should run up again. Quite a bit of short interest to turbo boost at some point.
Riot proving to be resilient despite the report has to be good for all miners ultimately, so I'll take that, whatever our views on market mispricing vs peers. Had a positive shout from JPM which maybe helped.
https://www.investing.com/news/cryptocurrency-news/jpmorgan-updates-bitcoin-miner-models-and-price-targets-3469647
Instead of just looking at Riot's bitcoin held compare the two companies in terms of net cash/bitcoin i.e cash + bitcoin - debt and you'll see why there is such a difference in mcap.
If BTC rallies hard that difference in net cash increases dramatically due to the large bitcoin holdings and if BTC tumbles Riot's net cash position protects them whereas Corz may run into some trouble.
I think the ai deal should be reviewed as it's probably undervalued, plus the rest of the infrastructure and a clear debt solution. It has room to run for sure
Corz has 26 EH operational now vs Riot at 14.7 EH.
In May Corz mined 447 btc (+128 btc by customers hosting with them) vs Riot 215 btc.
Riot has the better balance sheet certainly, and that 9k btc adds ~$650m of value. But headline for me is that Corz is still $1.45bn cheaper than Riot, so if the short report is wrong and Riot is valued fairly today, Corz must be a steal at this level.
Started: ScottNitrous, 5 Jun 2024 16:54
Last post: ScottNitrous, 5 Jun 2024 16:54
Share price held up well today. :0)
Started: Openheimer, 5 Jun 2024 07:30
Last post: Hexam, 5 Jun 2024 08:10
Just ignore Oppie - he's just yet another of those tiresome posters that unfortunately plague these boards who shout their book without much of a clue of what they are actually shouting about.
It won't go under 5p today, none of this is news, they have been a zombie company for over a year now.
Take a position on it if that's what you think
This is going well under 5p today.
MCAP is unjustified MASSIVELY and they are losing month onmonth by 56%
This goes to 1p
Started: CLSKBull, 28 May 2024 08:48
Last post: Monkeytom, 5 Jun 2024 07:30
Thanks Chaebol for getting me to diversify away from Argo.
Good update from Wulf yesterday, think that is going to do super in this run. GLA.
Boooooooooooommmmmmmmmmmm x;)
Corz and Kaspa winning big today. Happily own both and reccod both ! hope a few winners are here x
GLA
Trigger prices hit for notes and tranche 1 warrants. Mandatory conversion of notes at 7.79.
Solid chance they will shortly wipe out their debt.
See page 20:
https://d1io3yog0oux5.cloudfront.net/_adec82f8e4639a43e7f3cba003c51a29/corescientific/db/946/9233/presentation/Q1FY2024-Earnings-Presentation.pdf
Ahhh that explains it! Still, quite the share price turnaround.
There was a 10:1 reverse split prior to emergence, plus holders during chapter 11 were issued with warrants (Corzz and Corzw).
https://s29.q4cdn.com/356375974/files/doc_presentations/2024/01/FINAL-CORZ-Emergence-Update-Slides-012224.pdf
Last post: HarChris, 5 Jun 2024 07:15
My prediction for May revenue is well out. Previous prediction $3.6m, actual $2.9m.
Cash burn must be ~3.5m a month now.
Oh wait I forgot they took part at 20.5p a share. Talk about timing the top.
You have to remember that the last placing was in early Jan, institutional investors had seen what previously had happened to the Argo share price when bitcoin pumped and so taking part at 10p and keeping Argo afloat until late 2024 was a gamble that obviously thought was worth the risk, especially with the possibility of bitcoin rallying hard around the halving.
Since we've seen BTC hit new all time highs without much of a reaction to Argo sp and now the halving has come and gone with no appreciable increase in BTC price or difficulty adjustment downwards and so the options are running out for Argo. Something drastic has to happen in Argo's favour in the coming months or it really is game over.
Is this share going to pot or can it be rescued, can't understand how they managed to raise money from institutional investers and then come to this.
Started: johnboi1968, 23 May 2024 15:39
Last post: Hexam, 27 May 2024 10:13
"Here in the UK main market you just die a long drawn out death."
Indeed - I remember the furore from shareholders (including many on this board) when argo was raising funds through new equity and PW promised to switch more to other means of raising funds. A shedload of debt later and the rest of history!
Just goes to show how the UK shareholders/market has a different attitude to equity raises - and why they shouldn't be listened to. Another example of the weakness shown by PW - pandering to shareholders.
The ability to issue your way out of a tight spot is one of the biggest differences between the US market right now and UK.
When BTC started rallying early in 2024 a US miner in Argo's situation would have simply announced an At The Market placing for $50m and continually issued all the way down from 20p to 10p, whatever it took and now, today, would have options. Well they'd have been doing this for the past two years and would be very much alive, if not alive and well.
Here in the UK main market you just die a long drawn out death.
In just over a week Argo releases its May operational update and it will reveal just how steep the fall in revenue is - around $3.7m for the month. I suspect that will be a turning point.
I'd like to know who the other long termers are with you spitfire. All the hardcore posters that backed argo from ages ago, left the building ages ago it seems like you'll never smell the coffee..... I think you either love burning money or gotta be the stupidest investor on the planet to be looking at Argo as an investment case. Mara was getting jittery and theyre numero uno. Are you just some paid troll from Argo to spout hope and bs, youre getting a bit ridiculous spitfire!
Nice bounce on corz x;) somethings gone right for me, perfect timing........ could be a bigger boost coming for them and a relatively small share count x;)
GLA
404 if ...IF you've sold out of Argo then go on to which ever BB youve bought shares in then ! theres no need for you to be here putting your sixpence worth in to talking about a stock your not even invested or interested in !!! over & out...blocked !
Started: spitfire44, 23 May 2024 10:15
Last post: Leepot, 24 May 2024 14:25
Yeah, seen recent and past interviews. Also, CEO from btbt gave him and company praise
Yeah probably one of the few actually doing something with stranded energy. Watched a recent video with him and agree. Hopefully it gets noticed at some point - suspect it will be a late runner.
I'll only put a small amount in when they go a little lower, think they look good for the longer term with very cheap energy and their CEO seems to be well respected
There's very low volume on Soluna so the price can move around a lot. To be honest I've been disappointed with it, as the share price has gone backwards. I'm still holding them as I think it will eventually come good, but if you're buying I wouldn't recommend buying exclusively - buy a few different companies to mitigate the single company risk.
Clskbull, looks like it's corrected itself now. Was showing -43%
Recording is here if anyone wants it:
https://s3.amazonaws.com/bigmarker-extension/831d3c886f10-1446660e7a73679f565e2ddc8be94600/831d3c886f10-1446660e7a73679f565e2ddc8be94600.mp4
The full minutes / Q&A's of the call meeting are laid out on the seeking alpha website if anyone wants to catch up on them....all understood and sounding positive at the moment.
Started: HarChris, 23 May 2024 07:17
Last post: HarChris, 23 May 2024 10:12
Exactly, quite clearly illogical.
If Argo gets the luck it needs alongside a fair bit of dilution it’s possible they survive and in say twelve months time be bumbling along at ~10p so for there to be any value today given the unlikeliness of such an outcome you’d be wanting 1 or 2p entry.
There’s a risky punt to be had by risk lovers when this is rightfully priced to fail but now all that upside is already priced in!
The bizarre thing to me is that mcap is still around USD$80mil, while total assets is 70mil - which is an accounting figure rather than real world figure. They have 53 mil for plant and equipment which is comprised of one 15 MW site and 2.7 EH of modified old gen machines - half that figure would be ballpark and likely generous. Loss making now on a monthly basis with hosting agreement coming to an end and old gen machines.
So clearly this is beyond fundamentals, as they aren't there on any level, and we should think of Argo as an LSE synthetic shtcoin? Volume is next to nothing, I don't understand how this has held up. There are miners with better prospects at lower mcaps. Not sure I'll ever understand markets.
"think some change in the hosting agreement perhaps?"
That was my guess. The costs can obviously fluctuate significantly due to weather etc. but they have been sky high for six months now so it seems to be more than just that.
Total cash cost in Q1 was $50k per BTC mined and total all-in cost was $71k. That's before halving so can broadly double those figures now assuming all else being equal.
Yeah it's strange Hexam, think some change in the hosting agreement perhaps?
If they had been able to maintain tighter cost controls then they might just have had a fighting chance with a BTC move beyond $100k, now as it is that won't cut it which means no BTC price will cut it (even $150k would simply mean difficulty rises to a point where they aren't profitable).
All about trying to suck in the naive now on any BTC price strength but i don't think there's too many of those that would support a business saving placing now.
I did the calculation a slightly different way (using cash directly rather than the EBITDA proxy) but reached the same conclusion - the end of Q3 looks like when the money runs out.
They've done well to string it out this long with good control of indirect costs and running down debt (and interest). What has shocked me though is the rise in direct costs. In Q1 it cost them over $30k to mine each BTC from just direct costs alone - about double CLSK's figure for example. It looks like there was a step change in such costs in Q4 that has continued in Q1. With the halving this means the direct cost per coin mined alone will be nearing $60k so they are close to the point of being better off not mining at all!
It's really hard to see how they get out of the corner they are boxed into without a very sharp and sudden rise in BTC - or a fairy godmother.
Started: BBB777, 21 May 2024 19:44
Last post: BBB777, 22 May 2024 19:04
Well, it's still nice to see. They have clearly been successful if they can take a punt like that...Heres to hoping they know a little something and some of us can make a little profit soon....
Anyone buying Argo shares for 1.3 million must need their heads examining better companies than this to invest in
Been a while since I've seen an Arb buy like this...
21-May-24 15:36:37 13.00 1,356,371 Buy