Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
BTC Average during July $96801 and Zcash $61.73
Based on todays price and if we mine the same amount during August as July we could see an additional $300k revenue and a margin of 50%. Not too shabby in my book.
Looking at current difficulty and capacity stated on Argo's website, if we were running machines to these then we would be mining currently
163 BTC and 50.70 BTC Equivalent Zcash
However allowing for breakdowns and efficiencies this could be a bit lower. Would image Z11's are going like the clappers though.
I don't think you are going to be far off with those figures. My own calcs using online Z11 calculators and the current capacity of 280 msols, gives a profit of around $5.94 per machine per day. This is based on a conservative all in cost of $0.05. Agreed the deal for the current batch of 750 seems to be excellent timing with the recent increase in Zcash prices.
https://cryptonews.com/news/it-s-never-been-so-difficult-to-mine-bitcoin-miners-offload-7105.htm
New machines coming online, but miners selling off coins to keep afloat.
All we need now is to see some improvement in BTC price. Every $1k increase means $2.1m on the bottom line and some miners will still not make anything even with BTC at $12k.
Not sure how Riot are doing on their 70 bitcoins a month.
Zcash doing well today, nice to know we have 1750 machines churning those coins out. I believe bringing in around $450k revenue a month now.
https://www.coindesk.com/price/zcash
Quite clearly Bixby and Edwards were milking the company based on their salaries. I asked the question relating to H2 payments to current staff and got the following reply.
"The consulting fees/salaries to Mr. Hothi and Mr. Wall are in line with Canadian market rates for these positions. These payments were higher in H2 as there was a bonus awarded by previous management to the team at the end of Q4 for successfully pivoting the business and completing a significant capital investment. The size and discretionary nature of this bonus are not likely to be repeated by the current management, and certainly not when the company operated at a loss."
If you feel the current personnel are not worthy of their salaries or are not happy with them not purchasing company shares then feel free to sell yours and invest in other companies.
There are many other companies where the CEO and Directors are taking large fees and all shareholders are getting is dilution after dilution due to placings. Our current mining capacity allows us to keep our head above water unlike possible other miners and we will hopefully see the benefit in the next Bitcoin bullrun.
Best of luck with your investment, not sure they could afford to buy Argo based on the cash they must be going through now just to keep the lights on. This report wasn't too rosey. Probably a bit unfair as I don't think they would be paying $0.07 per Kwh for electricity.
https://seekingalpha.com/article/4351816-for-riot-blockchain-to-just-break-even-bitcoins-price-to-average-19000