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Flowerpot: There are 900 bitcoins mined per day. if argo would fully utilize there 800 megawat facility and Argos’ existing cpacity I think 1000 coins per month would be doable.
This is from Core Scientifics website: 512MW of power under contract.
We are not in alignment on calculations.
I suppose that your probably thinking what value does this information bring? Well, in my opinion if Argo was truly held by 95% retail investors during the Michael Sailor interview back on August 3rd, then Argo has had a tremendous accumulation of shares to 49% from the institutions. At the same time the price has been forcably dragged down. To me this seems to mimick when Bitcoin was dragged to the 30k range and sat there while institutions or whoever accumulated.
Sorry to make this a novel but I am hoping this means once the institutions get their fill of Argo shares the share price will begin to rise again, especially as bitcoin rises as a driver.
On a further note I think it would be imperative for Peter to announce there will no longer be dilution yet fiancing of mining machine puchases. I also think he should query Sailor about that 500 million offer to accumulate as much bitcoin as possible before the hash rate increases to significantly. If he were to use all 800mw of the facility asap with emersion we could very well mine 1,000 bitcoin per month. This should wet Sailors appetite if we gave him 20% of the bitcoin mined or even 30%. we shouldnt allow Mara, Riot, Hive and others get the jump on Argo here. I wonder if the substation can handle 800mw?
Folks, I have been trying to follow up on some theories I have. Recently Peter had mentioned that Argo was 95% retail investor owned, but when I do some research online it appears Argo is only 40% owned according to this site.
https://www.google.com/amp/s/simplywall.st/stocks/gb/software/lse-arb/argo-blockchain-shares/news/what-kind-of-shareholders-own-argo-blockchain-plc-lonarb/amp
I noticed when Argo had the big runup to $4+ per share the institutional ownership according to Argo’s website dropped significantly while Argo’s price was running up.
Now that Argo’s price is going down institutional ownership is increasing.
This is why I think the big boys rule the world. Do any of you guys or gals have clarification on Institutional ownership during price movements?
Fladgate pattingvthemselves on the back for Argo’s “successfull” IPO on Linked in.
With the cryptocurrency market continuing to grow exponentially, we have advised our client Argo Blockchain plc on its Nasdaq dual-listing on 23 September. Argo has continued its rapid growth trajectory by obtaining a secondary listing on the Nasdaq Global Select Market through the issue of American Depositary Shares. The listing on Nasdaq was contemporaneous with a US IPO, raising approx. US$128 million. Argo’s market capitalisation has grown approximately tenfold since listing on the LSEG (London Stock Exchange Group) in 2018 and now stands at c. £500 million.
Although larger financial institutions have previously viewed the area with caution, this is changing, and Argo’s US listing adds credence to the market view that cryptocurrency is becoming more institutionally acceptable as an investment class.
Peter Wall, CEO at Argo Blockchain said "Fladgate has been a trusted advisor for the Argo team since the company's early days. On our most recent NASDAQ IPO dual-listing they were a steady hand on the tiller and helped us navigate the complexities of the multi-jurisdictional process. We look forward to continuing to build on our relationship with them."
David said “We have acted for Argo since day 1 and acted on its IPO on the Standard Segment of the Official List in August 2018 . We are delighted to have assisted Argo continue its growth with its Nasdaq listing, in what was a challenging transaction for a client one is happy to go that extra mile for.
Argo, a global leader in cryptocurrency mining, was the first cryptocurrency company to list on a major stock exchange and is one of the largest mining operations to be powered by renewable energy.
Our team, led by partner and Head of Corporate, David Robinson, operated as a compact and agile team, working alongside and opposite far larger Wall Street firms. David worked alongside new corporate partner David Harrison, supported by Hamilton Forrest, David Lee, Vicky Bills, Alexander Sandwell, and Pui Yan Yuen.
#blockchainrevolution #blockchainsolutions #nasdaqlisted #nasdaq #londonstockexchange #unlimitedpartnership #unlimitedpotential
https://mobile.twitter.com/PeterGWall/status/1445845190820827140?s=20
This picture reminds me of a joke.
Why do cowboys always have poop in their mustaches?
Lookin for love in all the wrong places…heheh
For all of you folks across the pond, this is a song from the movie Urban Cowboy starting John travolta.
I am assuming Argo is holding 2000 bitcoin as of now. The August report showed 1649.
So previously bitcoin was @ 41k which = 82 million
Now
bitcoin is @ 54k which is 108 million
No matter how you skin this cat. This is a 25% increase in just a few days. Even though the share price is not reflecting these moves eventually it will.
I suppose if we new we wouldn’t tell. However, I would like for someone to explain the churn concept and what that means? I am quite sure Argo is being held back though and I assume its because the big boys Mike has been reporting on have been accumulating small chinks every week as retailers lose hope and sell their shares. I would assume if bitcoin were to breach a certain value these miners will go back to April levels again.
In regards to dilution there is some logic here. Argo went through a massive bitcoin dump and stayed in business because they had no debt and they sold Bitcoin.
Now we have a lesson learned, dont sell Bitcoin and dont gather debt you cant repay. Argo is in a good place now to finance mining machines using bitcoin as collateral. If the Bitcoin market tumbles Argo will be in a good place.
Dubaindo, I had a friend in the early 90’s bring his bag phone in a restaurant. My father and all his friends were laughing at him and asking what that thing was good for?
He picked the phone up and called the hostess at the front of the restaurant and asked her to kindly request our waitress to bring us more tea, we were thirsty.
Chuz, I feel your pain. Its hard to say I am going to close my eyes and wait a year, but thats what we have to do unless you need the money right now and forced to sell your shares.
Its hard to do but put youselves in the shoes of the big boys. How can they get you to sell your shares? If I remember correctly Argo is 95% held by joe blow shareholders. Even today driving miner shares down while crypto is moving up is a great psychological ploy to get folks to sell. At the same time these big boys are accumulating. As soon as the time is right, meaning the big boys have officially grabbed enough shares the price will increase or the price of bitcoin will force their hand due to a stampede of Joe Blow investors accumulating miners. I wish Peter and friends can gather momentum on Texas, that would help.
Oh my god, no disrespect but if i here the cup with handle again about a stock I will throw up all over myself. Clearly Bitcoin needs to make a run to move crypto stocks. It doesnt matter if its a beer mug with handle laughs. Also, when the big boys are ready they will let the stock blast upwards to clear out shorts and buy up sell orders.
Chuz, I havnt recommended that anyone invest in Argo. Just making some jokes with a little seriousness mixed in to break the monotony. You say wait until 2023? I remember when those big bag phones came out. The pre-cursor to cell phones and thought back then I should wait to invest in Cell phones. I think those same institutions were buying chunks back then when I was making that decision. When Mike sends a report of institutions dumping I will stop buying.
Remember Texas has an 800 mw capacity. so, in 2024 I anticipated at least 75% utilization of that capacity. To be honest , i pulled this out of my ass. I suppose i can sit down and put together a spreadsheet and estimate this but it would still be bull ****. The big question now is how high will Bitcoin go and how soon can Peter fill that facility up with machines. The longer he waits the leas bitcoin we can mine. No matter what the dilutuon has been Peter has been smart. If the markets take a dump along with bitcoin, Argo is prepared to weather the storm without selling bitcoin. We hav very little debt.
Okay, so I have considered Argo a hold for 5 years and was thinking about the anticipated value and metrics.
2021…2000 bitcoin and bitcoin price 75,000
2022…3600 bitcoin and bitcoin price 150,000
2023….6000.bitcoin and bitcoin price 200,000
2024….9000 bitcoin and bitcoin price 400,000 (halving event)
2025. Who knows??? Anyway, but Saylor owns the world and kicks Elon Musk ass in a Jello wrestling event gone bad over a bad tweet
Yes 100% correct. Further dilution would be a huge driver. So in theory, 20,000 SJ19’s = 70 megawats. There is still 730 megawatts remaining of potential capacity. if Peter jus cashed out 10% of future bitcoin mined Argo could continue to pay for new machines or at least use that so called $100 million credit facility, but further dilutuion would be devastating as he mentioned in the video.
Hmmm, wonder how the price of Argo made it to $4.64 a few months back and even $2.30s just a week ago. Folks can use spreadsheets all they want but the big drivers are going to the following.
@. Bitcoin Price Movement and momentum
@. Current and Future Capacity and Availability of Argo facilities to mine Bitcoin
@. Hodl
@. Hashrate, current and future
@. Pluto’s performance
This is not a competition between Riot, Marathon and Argo +.