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Yeh the BTC rise has kept a lot of these old machines economically viable imo, I dont think the drop off will be as large as anyone anticipated. A lot of the N American miners have upgraded but id imagine at the right leccy prices these old models will still cut it at 70k btc plus.
Just another squeeze on driving costs down which will be good for the sector as it does have a lot of waste and excess.
Apart from CLSK the miners have struggled in this cycle and very interesting that CLSK is starting to get some MARA traction on its shorting shares which i now believe is up to 13 percent.
However if you had told me 2 months ago that BTC would have beat its ATH and go in to the 70k's before its halving I would have shook your hand off, makes it disappointing that MARA did not react with it but it's time will come and happily added at 18.50 ish couple of days ago. I am getting warmer for MSTR which i never thought i would but im still in full faith that once the selected miners run, the BETA from BTC will smash all other sectors.
Just what price BTC has to go to for that to happen remains a wonder! really thought 70k would flip it but it made it worse x;) but the price will come for sure.
GL Mate x
Interesting day today Fed interest rate decision and FOMC conference. I'd expect a rate cut today........ 34T in debt you have to find a way to bring it down.
It could be a volatile day but feels very much like the miners are ready to soar....... a rate cut would definitely give it a nice bounce imo.
GLA
Evil Fred, Evil MARA. x;)
They keep totting the billions up and they remain the beast in waiting. Yesterday is history, its where you end up that counts and 41 eh is paid for....another 200mw shed for its portfolio, whats that now 600 700 mw is owned sheds? and the efficiencies from these sites will upon ownership be immediate. 20- 30 % per shed?
Now surely $18.36 is from today this years bottom ? Surely !
Yep zoom out!.........BTC Bullish AF. This drop is well bullish imo.
Anyone remember 2021 59k BTC drop to 44k in about 15 minutes ? It went on to new highs that month! nothing goes up in a straight line, you have to have the pullbacks. Just avoid pressing the sell button and learn to load up on these dips.
GLA
Lol CLSKBull hates mara but makes large gains constantly from them.......all the other miners run amazingly well apart from Mara........... thats why everyone has more machines and BTC than them x;)
They booked a loss hedging btc of 17 million, whilst they had a hodl of nearly 17,000 btc 5000 of which were bought in 2021 for circa 30k.... just those 5000 btc from 2021 are in approximately 175 million usd profit. Which other miner had that foresight? and which other miner has a hodl over 17000 btc right now?
MARA is way undervalued against clsk right now no doubt, when the doors get kicked in on this bull run Mara is going to new ATH's and levels of MCAP it's so called peers can only dream of.
I'll be here x;)
https://twitter.com/penny_ether/status/1769098959488770344
' In addition to the purchase price, this transaction will release $12 million of restricted cash previously committed as collateral for the site's letter of credit. The transaction is subject to customary closing conditions and is expected to close in the second quarter of calendar 2024.'
Interesting what Argo will require as deposits for its 100 MW of machines when its contract expires at Helios in December. Has Galaxy expanded Helios yet? all seems very quiet from that.
Lol CLSKBull ! adjacent to loads of free stranded energy seems like the mara way atm. Penny Ether dropped a really good post on twitter few days ago about CLSK and Mara FCF and hash prices etc. I'm getting warm with CLSK but Mara have this year to really work on its efficiencies and costs and I do expect some good things to come.
Now if they can just stop hedging BTC in a bull run and stop the dilution taps we might be bigger than US Steel this year!
Im in a bull run and most of my plays are falling. It is unbelievable.
Mara averaged 22's looked beautiful few days ago, rearing her ugly head now x;)
KAS down
Migi down
BTC up! disguising my losses in the miners, 70 odd k and we are at this level....
You have to laugh and buy more x;)
Volume has never been higher....... so i dont think it's a case of investor halving sentiment.
Dilution from the ATM must be a huge factor they can issue up to 500 million shares in total, busy going through them and if they are up to 320-350 million shares issued now thats still a 6.4-7.0 billion mcap. Which is still very close to ATH's
The options, margins and dark pools must be impacting Mara too, I took a big loss on margin last week chasing it from 23.50 as all the indicators 'showed' it was poised to bounce, must be some huge money interests manipulating mara and the miners in general during this current cycle.
I won't be playing margin for a bit x;) but i am adding long mara shares at these prices, BTC has some considerable runway to go and 140k plus within the next few months wouldnt surprise me..... that 6 billion mcap could flip quick and spike to 14-18-20 billion plus.
MSTR beta on btc has been superb during its rise from 40 to 70k and is winning a lot of accolades. I look forward to BETA days for Mara and the miners, cos they're coming.
GLA
And then when they introduced the new FASB ruling to value btc on its balance sheet, I thought we would have seen huge inflows from American Companies. Looks like they will be later than the herd in the end.
If Mara had put the convertible debt repayment into BTC when it paid part of that note early, it would now have the entire funds for the debt repayment and if they understood the cycle they would have been accumulating for this bull run like we all have.
What’s done is done, no point looking back now. BTC is in brand new territory right now and lots of things to look forward too.
Fook Argo and pw! Take what you know and start benefiting from it….we are still so early in the cycle !
GLA
After those latest job figures CLSKBull where they said 1.2 illegal immigrants have found work, Im expecting cooked figures from the inflation report. I'm sure that will be amended down the line as it all keeps being amended.
Dems have a election to win they have to at least pretend that its all coming down.
Mara 27 bucks at 58k
Mara 20 bucks at 72k
BTC goes up mara flops. I reckon now is the time to be greedy and brave, I will buy more.
GLA x
The top 3 miners lost well over a billion in mcap value yesterday whilst BTC smashed 72k.
Disturbs the hell out of me tbf....... the ones that can, must be rinsing the atm or some form of regulatory change is coming in North America. IMO you just don't lose this type of value without something going on major in the background. The outages at Mara have gone on for quite some time and been quite vague.
This price to 20 bucks could mean mara are up to 320 million shares issued. They have definitely hit it hard imo all this cash and BTC..........will they buy miners peak bull, most did it with machines at one point....the only good i sense out of this, just like peak greed, I'm at peak fear and that usually gives a reversal.
Hoping for a better day or its a long walk with the dogs x;)
GLA
Lol don't x;|)
Today should have been rocket ships, instead another kick below the belt. It's worrying that BTC keeps mooning but the miners don't. The trigger price has to come sooner or later and send these miners on high gains or does dilution continually suppress it. Not a nice day!