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With our multiple diversification’s, I think this will help peeps understand our investments better:
With regards to bitty, I have always believed that the supply and demand will push the price northwards, it is basic economics. Happy with the notion that there is a limited number that can be mined I could see the price heading northwards. A mere decade from now, nearly 97 percent of Bitcoins are likely to have been mined. But the remaining 3 percent will come into existence during the next century and the final Bitcoin is said to be mined around 2140. https://gadgets.ndtv.com/cryptocurrency/features/bitcoin-total-coins-limit-21-million-price-impact-mining-2512575
The reason behind this slow mining is a process called halving. On average, currently, Bitcoins are introduced at a fixed rate of one block every ten minutes. But halving reduces the number of Bitcoins released by 50 percent every four years. By 2140, nearly 97 percent of Bitcoins are likely to have been mined. But the remaining 3 percent will come into existence during the next century and the final Bitcoin is said to be mined around 2140.
What I had not considered, is that miners and others, hodling which effectively means the supply side is reduced meaning the demand could strengthen. With bitty’s price movement this month, it certainly seems to confirm this thinking. The SEC’s announcement yesterday “This is to certify that on October 15, 2021 The Nasdaq Stock Market (the "Exchange") received from Valkyrie ETF Trust II (the "Registrant") a copy of the Registrant's application on Form 8-A 12(b) for the registration of the following securities:
Shares of Beneficial Interest, of Valkyrie Bitcoin Strategy ETF.
We further certify that the securities described above have been approved by the Exchange for listing and registration upon official notice of issuance. We understand that the Registrant is seeking immediate acceleration of the effective date of registration,
and we hereby join in such request.”
Time will tell whether further ETF’s get the green light but this, for me, means the demand for bitty will accelerate.
Glad we mine bitty but equally pleased we have a very capable team that understands the security of diversification. GL argonauts/true believers, 600
@Xerxes300, fantastic find, thanks. It certainly seems to have given over the pond a kick up the backside and as splatted says, look at the volume. If I recall at around 20:00 this evening the volume was about 450k - anybody got the figures for when this announcement broke? Nearly doubled in an hour??? Jeez!! ATB
Good evening Lottohopes, I started drafting my post early this morning and only got back about 90 mins ago so it was a pretty rushed job, and definitely not checked the maths/facts. I try to err on the side of caution but am relying on memory (fatal in my case) with regard to immersion cooling let alone progress technologically where I am clueless). I do have high hopes that ePIC will come up with a blinder of a machine but with the speed of development, I just can't imagine how good the new machines will prove to be. It is, in my eyes, possible that we could deliver anything up to double what I have guestimated, so to some degree, it is a tad pointless. What it boils down to though is that Texas plus everything else in the pipeline tots up to a massive increase in revenue/profits and maybe prove to be best in class - and that is without our diversifications. ATB
Needless to say, we are hugely undervalued with Texas build money in the bank and producing 160 + BTC a month at a cost of approx. $8,000 per coin. We need to know how we will fund the rigs for Texas, knowing at least 20,000 are on order and due for delivery, I wonder whether Galaxy has already offered very competitive terms on this order. Bearing in
Since April 2021 we’ve averaged 180 coins mined a month:
with 45MW and 1075PH.
Argo's mining capacity is expected to be 1.7 Exahash by mid November 2021. That should equate to 71MW (58% higher). If we assume mining difficulty and efficiency remain the same, (I expect improvements overall), we should be mining at least 284 coins a month from November. Then with the 20,000 Bitmain Antminer S19J Pro machines now ordered and due in monthly batches from Q2 2022 through Q3 2022 we should reach 3.7 Exahash. That means that by the end of September 2022, these machines should use another 65MW of the 200 MW with Texas phase 1. With the 20,000 new rigs, I make that around 550 BTC a month. If the cost of production increases to $10k per coin just what will our revenue/profit be like with bitty on a run? Then add 135 MW for the rest of phase 1 and then the 600MW for phase 2.
From the above, 45 +71 = 116 MW from 1.7 Exahash. Therefore 800 MW equates to 11.7 Exahash. Don’t forget to add the 1.7 for the current (excuse the pun) which should be fully set up mid-November. I estimate that we could see 13.4 Exahash once Texas 1 & 2 are fully operational with out pervious. All that said, the immersion cooling could add 40 to 50% and more advanced rigs add further. My guestimate is it beats MARA but could be 12 - 18 months later!
As I said earlier, we have the diversifications and associations like Pluto, WonderFi, ePIC and then Galaxy. What I don’t know is how we finance the rigs to fill Texas 1, but I suspect the current loan with Galaxy to be redeemed 29 of this month, or before suggests, there will be something afoot there. In dream mode, I’d like dear Michael Saylor to cough up $500m so we can fill Texas 2 with rigs too.
At full capacity with 133,120 miners, Marathon anticipates producing around 13.3 EH/s of hashing power. They aim to achieve this in July 2022.
Happy to be corrected especially since this is a rushed job! ALL IMO, but please DYOR. GL patient argonauts/true believers, 600
@Caddor38, I was working on this earlier today and I estimate that we could see 13.4 Exahash once Texas 1 & 2 are fully operational. The immersion cooling could add 40 to 50% and more advanced rigs add further. My guestimate is it beats MARA but could be 12 - 18 months later! Will finish my draft and post ASAP. ATB
I look at it, I come back to Warren Buffet’s “If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.” Seemingly the weak have sold and the II’s have been buying (See Caddor38’s post at 01:47 this morning) or look for yourselves:
I wonder why we have had a deluge of deserters of late, maybe those on furlough no longer have the time to search for their dream share, maybe we haven’t hit the top of the share riser lists of late. It seems that some peeps are impatient.
Looking at what we have been running with over the recent months, 45MW produced 165 to 206 BTC a month or 3.67 to 4.58 bitty per 1 MW. So, if we did not improve our mining efficiency, and mining difficulty remained the same we should be producing 300 to 400 BTC a month, at the very least when we have the 65 MW pumping out coins in Texas (added to the existing rigs running last month. Texas 1 fully operational at 200 MW, and 245 MW total, we should easily be churning out between 900 &1,120BTC a month. Immersion cooled etc, and well maybe we should be thinking 1,000 to 1,500 a month. At $60k each that’s a cool $60,000 to $90,000 revenue a month. What will our competitors be churning out and what will their profit margins be? Me thinks we will not be hanging around £1.11 to £1.50 for too much longer.
Then we have the diversifications and associations like Pluto, WonderFi, ePIC and then Galaxy. What I don’t know is how we finance the rigs to fill Texas 1, but I suspect the current loan with Galaxy to be redeemed 29 of this month, or before suggests, there will be something afoot there. In dream mode, I’d like dear Michael Saylor to cough up $500m so we can fill Texas 2 with rigs too. ALL IMO, but please DYOR. GL patient argonauts/true believers, 600
I have only fleetingly looked at the posting here of late, and our SP, been too busy elsewhere to devote the time to my family’s inheritance. Racing Cyclist’s post at 15:07 caught my eye.
I totally agree - it is frustrating!
End of yr forecast btc hodl: 2400 (give or take 100).
Prefer estimate btc price: $88k (never overestimate)
Est value of hodl: $210m
Current mcap: £533m
+ Pluto (we hold 381m shares - what will these be worth when they launch their IPO this year? We paid 3p in Feb & 6p in March, is 60p realistic = $228m?)
+ Texas (Phase 1, 200MW by Q2 2022, then Phase 2)
+ Tie-in with ePIC
+ Numerous other associations
Totally agree “This is a tough time to hold ARB but it still makes sense to me based on the above.”
I prefer leasing the rigs for Texas thereby avoiding further dilution this year.
GL argonauts/true believers, 600
On one level it is maybe true to say any share is what peeps are willing to sell/buy for BUT on another level, one needs to take into account the FUD, traders, and shorters who are manipulating the price while investors look on. I am a great believer in the POTENTIAL. Interesting few weeks/months/years ahead. Roll on our next op. update. It's a bargain basement for anybody with the funds. All IMO. GL argonauts/true believers, 600.
US Senate votes to temporarily extend debt ceiling to avoid default https://www.bbc.co.uk/news/world-us-canada-58835517
Missed all the dross here today as I’ve been out and only got my phone so limited access. https://www.ft.com/content/1c999f26-5fc9-4008-84bb-1f706c6251a7 also see SEC has a new link re ARB. GLA