Seems low mcap, but the way the price moved on Friday, the volume it gets and recent news I feel it is re-rating to fair value vs peers so looking for it to go up 50%ish. Could be wrong but that's how it feels to me.
No, hopefully get an update next week on this and the 50mw build out, otherwise will be waiting on the quarterlies in May. Henry hub at good levels so hope to hear about a PPA then also.
I don't think clsk have overclocked much as only a small amount of their fleet is immersion.
Mara mcap already exceeds riot I thought? What is us steel mcap?
I'm feeling very bullish just now.
New miner coming, not sure when. XP half price sale also.
https://twitter.com/BITMAINtech/status/1636714017002536963
A while back digihost re-rated and outperformed the other miners over a period of a week or two.
I have a feeling wulf is in the process of doing the same just now but time will tell.
What other miners do people have on their radar for a re-rate? Migi looks interesting but there's no volume just now. Clsk is due a re-rate but it doesn't seem to be coming so looks like a slow burner.
Any others people are tipping?
I'm never going to understand mara's valuation. Loss making, poor execution, high debt, expensive purchases, etc. From a simple business point of view they are a disaster.
However I accept that none of this matters and price action is king. If mara goes to 15/20bil market cap in the next bull run, ultimately this is good for the other miners which will benefit.
Lol it is easy - you plug them in, configure them and let them run. They promoted the asset light model and it doesn't seem to have worked for them, so now they have to go through the slow process of building out facilities.
Wulf having a good run today - think it might be re-rating - swapped out my Riot for some.
Chaebol, owning 23 EH of machines and having less than half of them plugged in year later does not inspire much confidence. I care about business fundamentals and Mara is poor on this front.... Market loves it though and the market is never wrong apparently and all information is included in the price (just look SV bank lol).
Yes HC I can copy the code and make ABCoin - but it's a knock off rather than an original. I assume there are plenty of metals that are hard to mine and have utility - but people have made gold the chosen metal. Centralised digital currencies have an issue of trust and have failed on multiple occasions due to bad actors - if you've invested in alt coins you've likely gotten burned.
BTC does have utility - transferring value anywhere on the planet very fast. Layer 2 solutions will continue to come along like lightning network. Remittances are a big use case. An alternative currency in your tin pot dictator country is another use.
If I have a ton of gold in my garage - how do I actually go about selling it - there's likely a whole process to go through and an element of trust involved. The equivalent value of BTC I can liquidate fast into whatever currency I want. There's more volatility though for sure.
BTC has a capped supply, yet we can see demand continuing, and long term HODL rates also increasing - meaning available supply getting smaller by the month - more so each halving as the supply of new coins halves. When some heavy demand comes this will get squeezed further. There are more millionaires in the world than whole coiners. It shows how small the asset is just now.
I think Bitcoin does go to a million - but more on a 10 year time scale. I also (tentatively) think we are heading into a general bull market (not just BTC but BTC will benefit). I'm still following Dave Hunter's forecast and looking for BTC to go to 100+ this year and for all markets to crash before year end. If this does happen then the 4 year cycle may not be relevant going forward (except for miners where it is very relevant).
That's a calculated figure rather than an actual figure. It's derived from the number mined - that's why it goes up and down like a yoyo. As Marapool is a tiny pool they get a lot more randomness in their day to day figures.
CLSK has mined 581 this month on 6.6EH - so Mara on 9.5 should have mined 836. They need a few more lucky days.
Galaxy update - some of which will be directly relevant to Argo:
"Galaxy Mining ("GM"), following the acquisition of Helios, ended 2022 with over 1.5 EH/s in Hashrate Under Management ("HUM"), inclusive of both self-mining and hosting services. GM has approximately doubled that capacity from the beginning of the year, with approximately 30% from self-mining operations.
In December 2022, Galaxy acquired the Helios bitcoin mining facility and its related operations from Argo. The facility is currently able to operate up to 180 megawatts ("MW") of mining capacity, with significant room for expansion. We expect to energize approximately 200 MW of mining capacity at Helios alone by year end 2023, with a mix of capacity dedicated to hosting and proprietary mining.
The Helios transaction will continue to accelerate the expansion of GM's bitcoin mining operations and services, provide access to tax-efficient mining infrastructure, and reduce reliance on third-party hosting providers.
Subsequent to year end, Galaxy hedged a majority of Helios' power obligations with a 24x7 fixed price block of power, which protects from rising power prices, improves site uptime, and allows Galaxy to achieve a lower effective cost of power. Galaxy will layer on additional blocks of power as the site is expanded and wholesale pricing becomes favorable.
As announced during Galaxy's third quarter earnings call, Galaxy has also begun energization of our first proprietary mining site in Diboll, Texas, with over half the site expected to be energized in April 2023 and the full 16 MW expected to be energized by end of the second quarter 2023.
On a proprietary basis, GM continues to mine at well-under the fair market value of bitcoin.
By the end of 2023 GM expects to have a targeted over 4 EH/s of HUM, approximately 50% of which will come from self-mining.
GM remains committed to its goal to reach an 80% sustainable energy mix6 and is actively pursuing multiple long-term solutions to achieve this target."
https://investor.galaxy.com/news/news-details/2023/Galaxy-Announces-Fourth-Quarter-Full-Year-2022-Financial-Results-and-Preliminary-Results-for-the-First-Quarter-to-Date/default.aspx
It's not the same as Argo as I can verify the changes via the wallet. What they say lines up with what has actually happened. Once there's a diversion between what they are saying and what happens then I'll reconsider - MARA is very guilty of saying one thing and doing something else (23.58 BTC a day this month but claiming 9.5 EH - either they are lying or terrible at mining - both lol).
50 MW expansion coming soon, another 150 MW by end of year.
Foundry has increased 40+eh in that time. It's not mara/riot/clsk.
Clsk is mining roughly in line with difficulty changes. Riot had dropped production a bit last time I looked more than difficulty accounts for. Mara variable each day.
I'll take a look tomorrow and see if I can find what's going on.
Last year network hash peaked around 264EH, at the moment we're seeing around 345 - that's around 81 EH added to the network Q1 this year - a 30% increase.
Where is this extra hash coming from? Only a small amount of it is from the publicly listed miners as far as I'm aware.
https://btc.com/stats/diff