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There's still significant resistance on the books shortly above $42k, before it opens up, but if the current price can be held as support then we're half way there.

If BTC confidence (rather than just price) recovers then I think it will start to move up. The challenge at the moment is how to present ARB as a more attractive prospect than the obvious sector competitors. I believe there’s more growth potential in ARB (because it’s undervalued and development is huge) but timescale for translating that into concrete performance is not short term. September-October may be a different story if BTC resumes its run to ATH

The pre-trading rise in BTC will help momentum (usually we get the post-US trading down draft) but yes, there are other factors affecting volume/liquidity (OTC isn’t a popular exchange in the US, and investors there are often very wary of possible dilution). I suspect there will be some caution continuing until NASDAQ but this morning’s BTC price, and building news on institutional adoptions, should help anyway.

...and market sentiment... and being on NASDAQ... and whether MARA still looks like a competitive return

err.. they're not growing as fast as ARB will be growing, and the same is true for ARB also (albeit from a smaller cap)

a Wykoff accumulation phase appears to have been in play for some time , we're now waiting for it to break upward as supply dries up

Nonsense, we start the day with BTC exactly where it was at 5pm close of trading yesterday.

Speculating about the opening price at 8:01am seems suitably prudent

Yes, there used to be more Far East trading in BTC to warm up before London opening but the bulk of the price action has always been in North America (which is why NAS would help)

someone who bought them for 80p?

You have a trade ticker at the top of this page? (just ignore the 'buy/sell' tags)

"Bitcoin goes up we lose value …Bitcoin goes down we lose value "

But factually that's not true. In general, BTC goes up and ARB goes up 'a lot'. BTC goes down and ARB goes down a bit less. If you look at individual days or hours then you can't see the wood for the trees.

probably need to see BTC sticking firmly above $40k before there's a significant move up. At these prices all buyers are making hay on ARB and on BTC

too much impatience among get rich quick investors, as others have said over and over again the likely timescale for return on this is Q4, into next year and beyond. If you're invested then come back in September, if not then consider buying while it's cheap or find a shorter term interest.

It's not a short term investment though is it? ARB has worked out well for some traders and will be great for long term holders or those buying the dip to hold. The bigger moves will come when wider BTC market confidence is settled, that won't be long at the current rate of institutional announcements.

Isn't it just impossible to 'calculate' without onsite knowledge of what they're encountering along the way, whether 1200 is still the target depth, whether they're going to wire line the whole thing in one go, whether they can re-drill this one for appraisal, etc?

"Wireline and drill stem testing will be completed on identified targets"

So that means they are going straight to flow appraisal on this one?

not a chance of market sensitive announcement without an RNS, nod and wink perhaps and see how the market responds

far more to be gained from widespread institutional adoption than would be lost to marginal transaction taxes.

Are the results better than expected? Yes

Are ARB still ahead of competitors in the timeline for delivery of new machines? Yes

Is it frustrating? Yes

Could ARB have done anything about it? No