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My understanding is that the recent high fees (great for miners increasing block rewards) is down to Memecoins - such as Pepe. Seems to be the latest craze - like NFT's were recently.
BRC-20 tokens is what they are called.
I'm hoping the increased activity will help support/drive the BTC price.
Light reading:
https://cointelegraph.com/news/bitcoin-brc-20-token-standard-becomes-a-new-destination-for-meme-tokens (news story)
https://milkroad.com/brc-20-tokens (explainer)
https://ordspace.org/brc20 (brc20 tokens)
https://btc.com/block (showing increased rewards)
https://www.blockchain.com/explorer/charts/n-transactions (transactions)
In the conference call if I'm remembering properly I think they were hinting at stranded energy, or near 0 cost energy. So that would be like flare gas or that sort of thing I guess. So they'd paint that sort of picture to draw in the money. I don't think they'd be successful just now, but if they did it during a bull run I think it would get the funds. I still wouldn't invest as they've lost my trust.
Fair point Hexam, if the current batch of BTC/EH results from the other miners indicate that I'll totally agree. This underperformance has been going on since Helios came online. I thought it was just down to power prices/curtailment which was plausible last year, but no longer this year - so the only logical conclusion is there's an issue they are not telling us about. "Hash rate capacity" is not a phrase you would use - so to me it has been deliberately phrased this way and makes me think they have low regard for their shareholder's intelligence.
Yes I would assume contractual as well for Intel/epic machines as it would be madness to go ahead with them when cheaper hash is available more quickly.
"What's your honest opinion on Arb now? I feel screwed over, and don't want false hopes to cling onto from this board."
Wayne, there's no real strategy now that Helios has been sold, the CEO is interim and I wasn't impressed by him on the annual call on Friday. They are in a lot of debt at a high interest rate. They keep stating "hash rate capacity" instead of active hash rate. Their mining figures represent 1.5EH of hash but they keep quoting 2.5 EH hash capacity - which seems dishonest/misleading to me.
They have held onto staff they don't need because they have immersion build out experience. It seemed likely to me that they are looking for a new project, and will use that as an opportunity for a new fund raise (and might use that to clear their debt).
They have lost a lot of loyal shareholders, so really they are looking at new investors to bring this forward.
On the plus side it looks like the hosting deal is reasonable, and that they'll survive till the next bull run (although look for the quarterly report which should come out soon - if they do one - to see where they are and if they are burning too much cash). If we get to another manic bull run I think all crypto related shares will go up.
There are better miners in my view that I am more interested in.
Chopsing, Chaebol gave as good as he got. I don't know if I'm included in the Argo cult group or not, but if so, I don't take to be called evil, or a bully like many of your other posts have mentioned. I guenuinely believed in Argo, until it was clear that we had been sold a lie.
Yes that is true and each participant has their own view on what is coming and how they want to play it so a different miner will be the right miner for different participants. However you do have to be a bit headstrong in this game to be successful otherwise you'd panic sell on every dip. To help with this conviction it is good to know the businesses reasonably well and these debates are useful for gaining that knowledge and getting the alternative view. I think a lot of us are going to be successful during the next run because of this knowledge.
Sorry that wasn't clear to me from the message. IG did something a couple of years ago with Argo shares, however other ones you could trade. Not heard anyone else mention this recently. However it might be whatever intermediary "Charles Stanley" uses has made the decision and other brokers using the same intermediary might experience the same. I suggest ditching them and telling them the reason you are ditching them.
There's 108mil left to pay. Also they get another 5 mil of coupons or something after completion of the order. Some paid by shares issued, some by monthly BTC generated is my understanding.
I'm looking for the bull run to happen before those timelines but who knows. Hoping to be out and done with miners after that point so don't really care what they do afterwards.
I think it depends on your focus. If you are buying and holding for bull run, I think CLSK will give a better % return from this point to that point. If you're trading you're better to stick with Mara as it is more reliable in it's movements with BTC. I would add that CLSK daily volume has improved between 2 and 3x since the XP announcement and moves a lot better now than before, on the flip side there's the ATM going on which will drag it at certain points.
However if Mara keeps up the mining numbers it would close the gap on Riot.
"Tell me who is profitable Argobull?"
Let's wait for the quarterlies and see. However if they count hodl value increase towards profit figures it's not really what I'm looking for. I'd like a miner to be profitable not just during a bull run.
HC really depends on where in the cycle you think we are. Having a whole lot of cash now is pointless if we're entering a bull run. This cash should be used for buying machines and sites/acquisitions while they are cheap and available. In a bull run they are a lot more expensive and a lot less available. BTC holdings yeah always good to have a good hodl, but it is only worth the cash value at the present time, whereas mining machines/infrastructure generate an ongoing revenue.
I really do like what CLSK are doing (except for their generous bonuses and preference shares) and I'm looking forward to their Q1 next Weds to see where they are with things and hearing about "exciting updates on our expansion plans in Washington and Sandersville".
Lol Mara shafts shareholders all the time, most recently with their 50% or whatever dilution. They are finally mining more (to be confirmed still), but will they be profitable we don't know until the quarterlies are released.
Immersion 5EH is better than Air Cooled 5EH (except Argo for some unknown reason). Cooling systems are an overhead but shouldn't be massive but immersion should be cheaper to cool. Curtailment agreements come into play also (paid or unpaid), and incoming legislation of course.
I think BTC per EH is a valid measure, but it's one of many measures that needs to be taken into account.
I don't know CLSK's hodl wallet but 300 BTC I'm not too worried about verifying and totally in line with expectations given lower electricity prices.
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5EH should generate 5EH worth of BTC, no matter the models used.
A more efficient machine (XP) is much better than a less efficient machine (whatever Bitfarms are using), as they require less electricity to run.
So let's say miner A is generating the same BTC on 50MW, as miner B which is drawing 100MW for the same hash. You'd rather be miner A right? But that's not the full story. It depends on the price of that 50MW vs the price of the 100MW. If the 50MW is costing 6 cents per kwh and the 100MW is costing 3 cents per kwh then the direct input costs are the same. You'd rather have the XP's but that's one part of the profitability calculation.