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Argo has exactly the hash rate it planned, after the installation of new machines in Q4 last year, plus whatever indirect gain from the launch TerraPool. Argo was actually the only miner I think to hit it’s published targets last year (e.g. MARA missed theirs by miles). The next increase is not planned until the second half of this year, with the new orders of machines arriving in monthly batches.

It’s not peanuts but, as every planner knows, most major developments have sweeteners attached for ‘planning gain’, whether that’s a new school or an access road or a pool. In a place like Dicken’s county that buys you the mayor, quick decisions and local workforce priority on your site rather than other projects. That gets your build on time and on budget, which is worth more millions to the business.

That’s a very odd perspective. The company makes very large profits (held in BTC) and has very little debt for a growth company. It also has considerably less debt, proportionately, than some of its peers.

All the mining stocks have dropped more than BTC, apart from HUT (but they were previously up on a high so the drop is also very large). RIOT has been the weakest, followed by ARB (due to the lack of demand after the IPO) and MARA (who crashed due to their legal woes and repeated failure to deliver on targets). There’s just not that much competitive buyer interest in mining shares at the moment, that'll probably change in the next BTC bull market. ARB isn’t really a special case, it’s just at an earlier stage of development. Even so, I believe it’s proportional growth is likely to outstrip larger peers this year.

According to LSE rules, if there was a takeover bid this would need to be for at least the highest SP over the past 12 months. That’s currently 173 until September, then in the 140s. But yes, it’s quite common for a share to be artificially run down ahead of a takeover bid to accommodate the resulting pump back up towards fair value, by 2x or even 3x. It wouldn’t surprise me if that’s behind the organised short interest.

"Precious metals breaking out big time"

When you say 'big time', you mean gold up less than 4% in the past five days, and BTC up 8% in the same time? So, gaining twice as fast as gold in the crisis week?

The whole crypto space is pretty toxic and when combined with organised trolling on behalf of short interests can be unpleasant. You just have to roll with it. If you're invested in a share that has a board like this you should beware that there is interest in undermining its price. We can speculate about end game but the chat indicators are in themselves often useful market information. My best performing shares have almost no traffic at all on these discussion boards, which is not a coincidence. When the gang shows up in force on an LSE board it's often time to consider other options.

Stop losses on crypto stocks are ill advised

Don't be ridiculous, you've clearly never commissioned or made a corporate video, cheap as chips

They don't really have much choice because the price of mining shares is too low at the moment to make a decent raise viable at the moment. $10m is pretty small change in crypto finance. Remember Argo also used collateralized credit facility with Galaxy to fund their machines for more than double that amount last year (although I don't remember people jumping up and down about non-dilutive finance then)

@Chaebol "7 months ago we all knew arb needed funds for Helios"

We know the phase one Bitmain machines are financed on monthly delivery/payment instalments from Q2 (i.e. very soon). We can assume the revised Galaxy loan covered the deposit. I think we can assume the payment scheduling for those is in plan. We know TerraPool is up and running with rapidly increasing hash and if you've been checking the nodes you'll see the pool hash has been well ahead of MaraPool in recent weeks (presumably MARA has run into some kind of maintenance problem... again). We know the machines that were leased from Core Scientific are also now fully owned (following the legal settlement). We know the senior notes raised another $40m on top of the IPO. We know Argo is a priority customer for the new Intel ASIC chips (cheaper and more efficient) and we know there Epic are engaged in a joint R&D venture hosted at Argo's facilities (we can perhaps assume they're building the machines for those chips). We know the Helios build and infrastructure is completed this month (at which point it becomes mortgageable) and we have the two data centres in Quebec.

We can wait for concrete announcements but I'm pretty confident about interim targets without a share issue this side of Q4 (it's really not an option at this SP anyway).

He’s right, the underlying challenge for the share price is a lack of demand. Bitcoin miners are just out of fashion and Argo is one of the smaller fish in that pool anyway, for the moment. The SP will only fly if there’s heavy demand and a shortage of sellers. Irrespective of volume though, Argo price performance since the IPO is very similar to the other miners. The damage to the SP was done during the period before the IPO, leading to the underpricing.

Really, you're over sensitizing. All the main miners have moved very closely together with BTC since the beginning of the year. HUT has done a bit better than the others.

Actually more, BTC is up 3% and ARB up about 4.5%

That makes no sense. Argo is up by roughly the same amount as BTC, as are other miners. And all miners figures will be down for February, it's a short month. Re-rating the SP towards fair value is another matter, have to wait on that one, if at all.

Demand isn’t up that much really, more that there’s a supply squeeze and an uptick in spot demand on some exchanges. But the reason could be the same for sure. Institutions tend to go risk off on BTC so it would interesting if that’s not happening and if retail are starting to see it as a safe haven.

6-7p (oh for an edit button here!)

It's also jumped well ahead of the US share price for ARBK, which was $9.14 or about 68p per share. ARB is trading in London around 6-76p higher than that already (which is up around 10% as Dave says).

…so ‘this year’? Very possibly. But at what point in the process, hard to say

I’m sure their preferred route would be to confirm a discovery of any kind before moving to a raise of a joint venture for production/exploitation. That would raise the SP significantly and maximise value from new investors. They have enough cash to give that a shot but likely that’s all.

@the_Chuz - do you mean plans for phase 1 or phase 2?

@mysteryguy - another post that aged well...