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UAE will still come with curtailment, Fred said with no irony they will curtail during the summer months, that goes on from May until September x;)

The energy is also being utilised as stranded/ energy usage of last resorts. I really don’t know how you price energy that would otherwise be wasted or not bought ? But I’d be amazed with the JV they have that it’s anymore than 1 to 2 cents per kWh.

What interests me in UAE is this will be the go to for miners. Located next to huge energy plants throughout the Middle East and taking excess energy for peanuts. You won’t run all the time but when you do the margins will be immense.

This is why I think Fred spoke a lot about kind of wild cat operations located all over the place, harnessing cheap/ negative energy.

Yeh will be interesting to see Argos costs at Helios for comparison, I believe they are releasing earnings next week 17th from memory ?

I listened to Wes Cummins at applied in an earnings call he really does know what he’s doing and he said their best counterparty by far is Mara. If it’s 6/7 cents and we avoid all the cn mayhem then it is what it is.

Shed owners haven’t shown a huge advantage against Maras asset light policy but that’s why uae is so important now, owning sheds where the cheapest energy in the world is with far easier regulations makes perfect sense.

As Fred said they’ve bought the most miners and have the most efficient fleet now it’s time to start maximising that.

622 btc for the month potentially over 1400 btc could be mined in May. It just gets better and better but the price lol grrrrrr

Kheldar

https://bitinfocharts.com/bitcoin/address/15MdAHnkxt9TMC2Rj595hsg8Hnv693pPBB

Yeh I feel the same about the rig game Stnz especially with what we have seen with intel and epic. Unless they’re partnering with bitmain and not auradine ? on it then I’d be a bit more receptive.

Yeh the 6/7 cents per kWh energy and hosting costs are fixed at king mountain and some are variable at other sheds but Fred indicated that would be the ‘around’ price they’ll be paying in North America. So we will be looking at around 15k ish per btc on energy and hosting. These are all long term contracts and will go up a few percent per annum. It was a downer for me, but the last time they did business like this was with compute north and that turned into a fiasco so let’s see………… you pay more and get better or something else lol but Wes Cummins at applied loves Mara ! Lol now I know why x;)

I liked a lot of it......Happy 'retirement' Hugh, I hope that doesnt trigger mayhem x;)

I think they've worked out a real competitive edge on Mara pool, they did a lot of back and forth via foundry pool in January and February, hardly any btc come from Foundry now. Im guessing but im thinking there sitting on some good numbers and could possibly increase the 23 eh, i think with UAE theyll be close to performing to 27 eh 30 eh, thats if Garden City ever gets energised...

UAE sounded very promising.

Contingency of leaving America sees good ops in Latin America and Africa, i kind of agree with he's kind of gone scorched earth with regulators and the Federal govt now, i think he's had enough x;)

Building asics - mmmm not so sure about that, a lot to unpack and methane/ landfill sites the same. Could be expensive endeavours with little reward.

He gave up a lot of info and Freds usually very subtle in earnings and press, Im definitely seeing a more open and combative Fred.

Performance and execution has been fantastic and i can definitely see an operational profit for q2, the only downside for me was finding out energy hosting costs are 'around 6-7 cents' i did think we would be lower.

What was your reckoning on it?

It’s has to go off and re rate sooner or later.

The month so far…….

Clsk 6.7 eh 278 btc

Riot 9.5 eh 312 btc

Mara 14 eh 615 btc

It’s insane, 57 for the day nearly 615 for the month, it’s mining btc over its hash equivalent. Looks on for over 1400 for the month and will probably go red on Monday x;)

2 more blocks today would be lovely !

Definitely looks good for 27.5k again short term. June and July are tepid months for btc i just hope we arent waiting till August September to see a shift and run in btc.

Yeh we have had enough FUD lately......the script had to flip after all those days of consecutive losses......... I retain Positive thoughts! btc 80 ish k by November and Mara mining over 2000 a month x;)

One of them is Guaranteed already x;)

GLA

Yeh I’m heavy and deep in Mara, I don’t need anymore right now x;)

https://capedge.com/transcript/1507605/2023Q1/MARA

Loved the Worthing’s call yesterday, provided lots of ‘colour’ on overclocking and overclocking practises.

Yeh you love low prices, I reckon if you’re patient you’ll get lower, I’m interested in re buying wulf if goes a bit lower and was hoping Mara would jump on earnings so I could rebuy hut again lol

That worked out really well x;) at least fees have come back to some form of normality that wasn’t pleasing me tbf.

Hope the weekend we get a flip on btc sentiment, lots of fud about atm.

I’d really wait for some figures to verify what they’re mining btc at.

Mara with hosting coming in at roughly 6/7 cents per kWh so will be interesting what Argo are actually paying. Outside of Mara I’d be tempted with wulf or hut before Argo, as wulf have those very cheap long term contracts and hut has the large hodl and btc corp merge.

Maybe at those 2/3 p levels x;) maybe and only a punt at best now !

No because it’s not like we have ever read an rns that didn’t come true x;)

Licenced jackanory stories! I’ve read many. Until those results are independently verified they don’t mean diddly squat no matter what an aim listed ceo may be telling you.

Under what testing conditions?

in house by Dr Rita and Dr Kumar x;) the mental thing is, this could end up pumping, farcical.

Im off for a Byrons burger x;)

Will it compete with the Foreman Grill ?

There can only be one Chaebol mate. X;)

My password is more secure than the clsk hodl x;)

Should have kept your password in a wallet x;)

Lets hope it works out better than Argobull x;) RIP 'AB' Never to be forgotten !

Did CLSK earnings call say that Sanderson and the xp order would be completed in its entirety by November?

Yeh thanks Hexam, i agree with that and like ive said its pretty positive for clsk. They have a lot to execute now so good luck, sincerely.

Mara will be throwing in another 1500 extra btc maybe more for Q2 and im sure a considerable amount of btc will be sold again.

Its looking like miners could actually make money out of this game x;)

I agree to a point but obviously Mara has advantages and disadvantages of not owning sheds, payroll is obviously a huge benefit for Mara over shed owners so did you add the payroll costs 9.750 million, the pro fees to 3.750 million and gen expenses 4,329 million, but regardless of a few thousand dollars it’s a lot closer in price to each other.

Mara will always sell btc now and I’d imagine with thee mined numbers it will be close to 1000 btc a month. Clsk always sell most of its btc and is up to 112 million shares, I don’t get impressed with clsk or the 5.7 million in share compensation which is more than mara and nowhere near its mcap, but to me it looks ina far better position than riot.

So a little positivity for clsk x;)

GLA

Thanks for this Hex, I always expected Mara to be paying slightly more in direct costs for energy as opposed to shed owners, on its total direct cash costs, ive found that CLSK and MARA are mining at pretty similar figures, not including depreciation or sales.

I have Mara op expenses as 33,377,000 and gen expenses as 15,344,000 divided by the 2195 mined gives Mara direct cash costs of $22,196 per btc.

CLSK op expenses and total direct cash costs were 39,911,000 divided by 1871 gives them total cash costs of $21,331, If i am correct those figures are very similar and with the amount of new coin being minted by mara we should see that operating profit happen in q2 imo.

I was pleased to hear Zach and Matt are watching the 'political climate' closely. Riot didnt even announce or make an earnings call but when you look at it, i wouldnt want to talk about it either. Zach and matt sounded so scripted so lets leave it for that Man Freddie Thiel, im sure his earnings call will be a stonker!

Mara ran it close to a profit in Q1, with the amount its mining now im almost certain we see an operating profit in Q2 could be close to 3600 btc mined maybe more if the 3.9 in Texas comes online.

Exciting times.

I think the transx fees increasing as they have makes btc more volatile. imo btc wouldnt have dropped like this if the transx fees hadnt risen so fast and it makes me feel a little unsure of where btc is likely heading too in the short term. Thats more me though !

But overall, obviously its great for miners! will be interesting to see how this ends, even 7.5 btc in a block would be happy days.

Riot spent 130 million usd last quarter if there was ever a time for shorts, options and mara haters to switch this is it. Riot has some serious problems! surely surely surely today Mara runs hard.

Roll on 830 am NY time.

GLA