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if this BTC price holds up today then we're back into 1x SE territory on the chart, after the brief deviation, looking very positive at the moment for a repeat of the rapid rise, based on equivalent days before halving, that we saw in previous cycles. That kind of pattern could take us up over the $100k prediction line sooner rather than later.

would you like to calculate the mining productivity lost in waiting 12-18 months with BTC at $100k plus and then compare that to the price for a shovel ready project?

this is really important, great response and worth the watch to dispel this morning's nonsense

"i have sold half my shares and bought bitcoin"

you're a bit late aren't you? I think we all bought BTC a couple of weeks ago when it was $30k

BTC was $58.3k on 9 May

ARB was 33p on 1 January

The previous time BTC was at this level, ARB was also at this level (8-9 February)

"We are at similar levels to when BTC was what, 30% less than now."

Last time BTC was at this level, ARB was exactly at this level (17-18 May)

since 1 January
BTC up 56%
ARB up 176%

I have but in summary the first two headline paragraphs are both factually incorrect and unsubstantiated by the analysis. The rest is detailed to give effect to them.

What do you think an appropriate response should say exactly?

I'm sorry but you began by saying "Some proper good analysis in this", which pretty much invalidates any kind of evidence I could re-post from independent sources. It's utterly redundant as a piece of 'research' or 'analysis'. The author(s) have long form in similarly libellous reports aimed at aggressive shorting of other stocks. They operate anonymously precisely to avoid legal action. Their sole purpose is malicious and cleverly done so that there is no way to simply repudiate without engaging with the detail, which adds credibility. Other companies have tried to go after them but I'm not sure it's worth it. The tactic worked and we pay the price.

The so-called 'report' is worthless and comes from a well-known serial activist shorting outfit, both anonymous and libellous. They have previous form on this.

= 240p share value estimate
"At 131p, Argo is trading on 12-month forward multiples of 7x EV/Sales, 13x EV/EBIT and 23x adjusted P/E
with +70-90% NTM growth in each metric" (!)
not including any impact of NASDAQ listing....

No, it's nonsense, read the proper research report from Finncap, based on real analysis of real evidence. Valuation raised from 220p to 240p this morning.

"Argo has reported strong H1 21 results, with revenue of £31.1m and adjusted EBITDA of £23.7m
(excluding digital asset and FX gains/losses) from mining 883 BTC. In H2, we expect that Argo will
continue to benefit from the impacts of the Chinese government and many Chinese provinces
effectively banning Bitcoin mining from May, and we upgrade our FY21 and FY22 BTC mined by +9%
to 2,111 and 2,922 respectively. Combined with unchanged expectations for machine deliveries and
an unchanged BTC price of $40k since our 3 June forecasts, the increase in BTC mined and USD/GBP
changes drive upgrades to our FY21 and FY22 revenue of +8% and +12%. The revenue upgrades
benefit from strong operational gearing as the reduction in global mining difficulty does not impact
Argo’s direct costs from operating its machines and datacentres, but as we include incremental opex
from the expansion of Argo’s team, we also upgrade EBITDA by +8% in FY21 and +12% in FY22. At
adjusted EPS, we lower our FY21 and FY22 forecasts by -26% and -24% due to the inclusion of £8-
9m of P&L tax pa, and incremental finance costs of £2m and £4m in FY21 and FY22. H1 results
highlight a tax charge of £3.5m at an effective tax rate of c30%, which we had previously expected
would be offset by tax losses and accelerated depreciation of Argo’s c£170m of capex over FY21 and
FY22. We now conservatively assume that Argo will pay P&L tax on its foreign profits at an effective
tax rate of c30%, with cash tax paid from FY22. As we do not include any impact in our forecasts of
Argo’s potential Q3 listing on Nasdaq in the US, we also include incremental debt in FY21 and FY22
as we expect that the company will continue to hold all of the Bitcoin that it mines in H2 21. As Argo
looks to capitalise upon the opportunity for its transformational new Texas facility, we look forward
to it providing further updates on the potential Q3 Nasdaq listing, highlighting further milestones for
the build of its Texas facility, and announcing new machine orders. We upgrade our Argo valuation
to 240p from 220p, where we use a scenario-based approach on 2023 OpFCF and include the impact
of the company growing its BTC holding to c2,700 by FY22. At 131p, Argo is trading on 12-month
forward multiples of 7x EV/Sales, 13x EV/EBIT and 23x adjusted P/E, with +70-90% NTM growth in
each metric."

Sorry, but if you don't understand the basics of the Texas deal before now then why on earth are you invested here?

It's not a price per acre deal, it was a company takeover that included the land and access to huge discounted power supply, paid for in shares. From the 8 March RNS...

"The acquisition of DPN LLC (by way of a merger with a wholly owned subsidiary of Argo) gives Argo access to up to 800-megawatts of electrical power, where Argo intends to build a new 200mw mining facility over the next 12 months. This facility will provide Argo with what it believes are some of the lowest electricity rates in the world, the majority of which is from renewable sources.

The consideration for the acquisition was an initial price of US$5M, satisfied by the issue and allotment to the shareholders of DPN LLC of 3,497,817 new ordinary shares in Argo, with up to a further US$12.5m in shares at a predetermined price being payable if certain contractual milestones related to the facility are fulfilled."

How can you possibly refer to 'average land values in Texas' for a mega-industrial site with planning permission and a deal to secure access to 800MW of power onsite with it's own sub-station. It's hardly tumbleweed territory!

@Triumph - in your own words

"This is my sort of market, a hunting ground for bottom feeders to swipe at bargain basement stocks whilst the herd run around like headless sheep. Given my high cash position, am very well positioned to capitalize on any short term crashes."

I can't believe people are taking this report seriously. It is utter distortion and potentially libellous, I'd imagine a law suit will be on the way to the author/publisher shortly. The Bab report was similarly malicious and substantively incorrect.

There is nothing 'dodgy' about the Texas deal for prime development land with industrial planning permission and agreement on access to that kind of power supply contract. Trying to dis that by comparing with the price of poor farmland is ridiculous.

The land was bought with shares not cash, so obviously the beneficiaries are shareholders by definition (they received the shares in payment). Again, noting at all suspect.

In the law suit referred to, Argo are claiming on the other party (not the other way around). Again, nothing suspect.

Get a grip!

I believe there's an LSE ban on disclosure of personal information but you wouldn't have to look far