Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Many of folks have mentioned we diluted the value of Argo by115 million since the share offering. I am just comparing the number I have to the funds recieved for the IPO.
Interesting how funds continue to accumulate Argo while the share price is being held down. My point is that many have pointed to the dilution as the justification in share price. Im jut saying in one month thise funds from the dilution has been paid back as a different approach.
Just wanted to provide a quick calculation since the IPO fund raise.
During September IPO Bitcoin was at 42,000
Now Bitcoin is at 68,000
Argo has approximately 2,200 bitcoin now
With this data:
September: $42,000 x 1836 bitcoin = $77.1 million
October: $68,000 x 2200 bitcoin = $149.6 million
In short, within one month Argo has made 50% of the money back to cover the proceeds from the IPO.
One thing that may be causing challenges for Argo is that openly announcing that Argo intends to use emersion cooling may impact the warranty on the mining machines. As with any computer device, once you admit that your overclocking the CPU the warranty is void. I am assuming Argo’s intent is to not only reep the benefits of the 20% more efficiency, yet possibly overclock the CPU/GPU to get up to 50% increase in performance, but Peter is not going to be stupid enough to announce that kind of information. However, Its implied and we as shareholders need to connect the dots at times and be smart.
Chaebel, on Argo’s website you could pull a list of institutional investors and how many shares they owned and there was more than 10% institutional investors, maybe 40% or a little less. They all dumped during the run up. During the run up the price was artificially held up while the institutions dumped. NNow the institutional investors are buying back in while artificially keeping the share price down while retail investors sell. You can clearly see the post of folks on here who are paid to bash and do a good job, letting you know they sold there shares and moved on.
Then sell your shares. when Argo went up to $4.65 the institutions were dumping all their shares while the retail investors were buying in, millions upon millions. Now there is a stockpile of retail investors that need to dump.
Honestly, has Peter done anything wrong? Was he going to pull the money out of his arse to build out a solution that would match the competitors?
You guys are all wrong. Institutions wants your shares and thats the plain simple truth. All of you who are complaining just sell your shares. With 90% of Argo being retail investors what do you think is going to happen? The big picture is an 800 mw site, enough land to build 4 or 5 more sites just like it. The more of you who sell will allow the institutions to fill their coffers and allow Argo to move, so do it.
Great Post! However, my hypothesis is simple. Argo is made up of retail investors. The institutions have time to pick off one by one until they have accumulated enough shares. There will be a day when the trigger is hit or a catalyst such as Pluto surprise or bitcoin hitcthe 80’s. Eventually the Mara’s Riot and other will peak and folks will be looking for a mining stock that is priced low and the momentum builds. Look at BTBT. I wouldn't touch them with a 10 foot pole. Im am just sitting back waiting for the boom.
I tell you, if micro-strategy would partner with Argo mining bitcoin the stock would go to the moon much like Mara and maybe even more. If Im not mistaking Argo is the only ESG miner out there and that would make a partnership compliant for auditors. I suppose this is just wishful thinking, however bitcoin is getting expensive and if it rises in the 100k range these kind of partnerships may form.
I heard they were going to use the pool as a source of hydro power to be ESG compliant by utilizing the trio difecta of wind, solar and hydro. Unfortunately, the community will be required to kick constantly to keep the generator going 24 hours a day. :)
I have always found it interesting how a stock is priced. For example the last two days Argo’s shareprice has dropped due to the price of bitcoin dropping. However, who determines this? Today i see the 4.7 million buy orders and 2.3 million sell orders.
Argo needs a catalyst again to get investors buying. The Texas site was an excellent catalyst back in February. I think there are three catalyst for Argo now.
1. Huge investor willing to build out full Texas mining Capacity.
2. Pluto announcing IPO with 1 billion valuation.
3. Saylor, Mr. Wonderful partnership.
If BTBT can blast off like it did in late 2020 so can Argo.
Thanks for the update! I hope Pete is able to speak to Pluto’s intent to list and performance of our investment. A few folks had mentioned this does not have to be divulged but in my mind our shareholders own 20% of Pluto and deserve an update beyond youtube postings by girls with bad hair days
Okay, yeah these Robin Hooders average age is probably 25 and they are just starting out. If Pete would have made this a 2:1 instead of 10:1 it would have been alot better. Nonetheless, I think the institutional investors will pick up steam as bitcoin surpasses 70k, however I would have never dreamed taht arbkf would be at 1.70 when bitcoin is at 63k. unfortunately there are alot of retail investors holding argo and the institutions are picking them off one by one