Member Info for Blubay

They just have to be honest and avoid misleading the market, which they are being careful to do

...and debt to equity of well over 100% and short of cash (although to be fair CORE is more like 275%), but they do have that large hodl at least

Short squeeze certainly possible if market turns up dramatically before they have to try and raise or shut up shop. Numero Uno is a vanishing possibility in light of CLSK and CORE. The MARA board have a history, enter a new business sector, remain as asset light as possible, divert as much money from investors to directors as possible, liquidate the business, rinse and repeat.

They still have largest market cap but only because their shareholder constituency is (a) naive, or (b) shorting
On the plus side they still have the largest BTC treasury of the public miners (over 10,000)
On the negative, their production took a massive 75% hit from the storm in Montana (due to the lack of resilience in their cheaply installed kit)
They shifted their business model from vertical integration to to reliance on hosting but that's very risky in a sustained bear market.
An estimated 45% of their EH is hosted by Compute North... who have just field for bankruptcy!

Investment demand I mean, rather than trading volume

London price for ARB is basically a series of auctions because they trade on SETSqx , the MMs set their bid/offer prices and if there aren't enough buyers/sellers they either drop it or they wait in the hope others will raise (depending what buy/sell orders they need to fill). There's not much demand for BTC miners, or risk-on tech shares, or London shares in general at the moment.

I think it's still valued in dollars but paid largely or partly in BTC

27p was not based on "booking the rig", that was based on announcing spud and the pending discovery (27-28p was also the NAV/share estimate from the analyst's report, as soon as it got close to that mark it sold back)

> They also said the rig was on the drilling pad..lol

No they didn't, they said "preparations on drill pad design progressed in time to receive the Rig", so they are progressing the pad design in time to receive the rig (whenever that will be)

I've never found him evasive or misleading myself. The risks and contingencies of virgin drilling campaigns are very well known and understood by markets and he's more transparent than many, being a geologist himself. The prospect remains huge, the logistical and business risks remain what they are, and cash diminishes over time. They only have one shot left, without a major raise or takeover, so needs to be right and preferably timely.

yep

so yeah, in reality more likely to be one man and a dog with a nodding donkey in the back yard

@Hereshopin - "Why would anyone merge with ADV though? "

you're probably right, likely to be unlisted. The attraction of a merger would (a) ADV's combined industry expertise in global markets and deals, (b) the £5m they are allowed to carry over as a tax loss under the AIM rules (e.g. for a small producer to offset against unexpectedly increased profits this year due to inflated market prices, or to give headroom on investment).

probably just news of the Ukrainian counter-offensive causing it to spike

No inside info, was just noting the coincidence...

How many European O&G companies do we know looking for a merger...

For example, anyone looked at suppressed assets in Ukraine...
https://www.enwell-energy.com/about-us/growth-strategy/
"Given that we have 100% operatorship of our assets, we have contingency plans in place and can promptly modify our strategy and plans should future economic and operational realities dictate. At the same time, we are taking a highly discerning approach to selecting new merger and acquisition opportunities."

Just happens to have shot up 16% today for no apparent reason... just a thought ;-)

it's still there...
https://www.lse.co.uk/profiles/reflection/

Is that line going in your next Boatman report? ;-)

2.5EH at end of August, so actual mining ratio will be a bit higher

...is good news, and reaching 3.2 EH by end of next month, so we'll expect to see similar increases over this month and next, hopefully also rising margins as summer electricity grid demand tapers off. On the negative side, reliance on spot price electricity prices remains an obvious risk.

"If a crypto-asset operation builds or contracts new zero-carbon energy capacity, and matches
both the annual electricity usage and temporal profile to the new zero-carbon electricity
generated, then the direct mining activity would be emissions-free, since the mine would use all
of the new zero-carbon generation it provides. To help U.S. climate objectives, industries could
volunteer or be required to build zero-carbon energy capacity that produces more electricity than
the crypto-asset mine requires, selling excess clean energy back to the grid. "