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The 2 accounting matters seem to be minor but the first one might have a small impact.
However the letter was received on 22nd Feb, where yesterday was 28th of Feb, so that was nearly a week that they couldn't update these figures which isn't a good look.
The "among other things" could be significant, or could be nothing, no way of knowing. I'm happy to be out of it until results are released.
Yes Duke, have a small holding of KR1 - that is good news and much needed for investors.
Current MCap = £87mil, holdings 31 Jan = £107mil - plus revenue as you say, and a commitment to publish monthly updates.
https://polaris.brighterir.com/public/kr1_plc/news/rns/story/xq31o7r/export
https://www.aquis.eu/aquis-stock-exchange/member?securityidaqse=KR1
Filing notes:
"On February 22, 2023, Marathon Digital Holdings, Inc. (the “Company”) received a comment letter from the Corporation Finance Staff of the Securities and Exchange Commission relating to, among other things, certain accounting matters as described further below."
Keywords = "among other things"
"Impairment of digital assets:"
"which effectively calls for the intraday low price to be utilized in calculating impairment"
Impairment might be a little higher than they have previously reported.
"Operation of a bitcoin mining pool that included third party participants:"
I don't think this really has an impact, it will increase revenues but also costs so net position should not change.
New report will be out by the 15th March.
https://www.sec.gov/Archives/edgar/data/1507605/000149315223006169/form8-k.htm
https://www.sec.gov/Archives/edgar/data/1507605/000149315223006171/formnt-10k.htm
Yes pearls would have been a better CEO. He would have invested it all in stamps though and licked them all for kicks. Still to this day there's been no evidence of immersion uplift as the per eh figures are still low. So there may be some other hidden issue outside of all the rest of the now known disasters. New CEO if one comes has a job ahead of them.
Chaebol my goal with this sideways move into Mara and back was to increase my CLSK holdings, which I achieved - not as many as I hoped for but enough to make it worthwhile. If Mara dropped tomorrow I would be a small % down on my shareholding instead of a small % up. I might do another smaller sideways trade after Mara earnings and CLSK monthly release. Was thinking of a little short on Mara overnight but BTC looks like it might go up...
Steve, the bitcoin miners mostly go up and down together - if Bitcoin goes up, generally the miners go up and vice versa. Most the bitcoin miners are on the NASDAQ, while Argo is on the LSE and NASDAQ. Many are also on the TSX (Canada).
Note that Argo narrowly avoided bankruptcy recently.
KR1 is on Aquis is more on the alt-coin side (not a bitcoin miner).
You've also got companies like Coinbase and Microstrategy that aren't miners.
There are loads of youtube videos out there - I won't recommend any in particular to you but if you have a spread of different ones you should come out on top if/when Bitcoin/Crypto runs again.
Chaebol that's my 30k Mara shares swapped back to CLSK. Will know tomorrow if it was a good move or a bad move.
Having gone through this exercise I can see why RIOT/MARA are favoured by bigger players - it was a right pain to buy CLSK in volume.
30k mara shares Chaebol, you can buy them off me later.
I have revenue at 28mil and all signs indicate a good loss, however the one off items are the things I'm not sure about - like CN as you say, and future developments. Entirely possible it could surprise to the upside, but I feel more likely the downside.
Where Cleanspark will have good monthly figures and should outweigh the dilution weight for their monthly results release - and are substantially undervalued.
Lol. I bought Argo at 4.5p before the run and it 50x'd. Selling is where I failed, not the buying. I bought bitcoin at <17k before it moved up, when you were telling us it was going to 12. I've also got plenty of bad trades like we all do.
No one knows the future, you can only use the information to hand and take the action you think is right.
I will swap my Mara for CLSK later on and make your day.
Chaebol, expectations for tonight's earrings? I can only see it being bad on balance causing a small dip tomorrow. Marapool showing no sign of new miners. I will likely ditch mara today. Every chance I'll ditch and they still go up tomorrow but I just can't see it.