A comedy27 Aug 2022 22:01
https://finance.yahoo.com/news/bitcoin-miner-argo-blockchain-looks-134750252.html
Argo is also looking to sign a fixed-price purchasing power agreement some time in the next few months, once power prices have decreased. This would grant it a stable price for electricity, a major cost for miners.
Argo lowered its 2022 hashrate expectations from 5.5 EH/s to 3.2 EH/s, citing delays in the delivery and deployment of Intel's (INTC) Blockscale ASIC chips because Intel is redesigning them. The redesign is meant to increase the efficiency of the machines, close to Bitmain's Antminer S19 XP, whereas before they were geared towards higher hashrate, Wall said in the call.
The CEO also disclosed that the firm has cut back its order from Intel. The machines, designed in collaboration with ePIC Blockchain, will arrive in the first quarter of next year, he said. There are some good "non-traditional" opportunities for raising capital, but shareholders will be "taken care of" as far as share dilution is concerned, he added.
What happens if power prices continue to go up ? All indicators show higher prices, this ppa agreement is very doubtful now. Intel deal looks dead too, good luck funding that but of course long suffering shareholders will be ‘taken care of’
I’d be bricking it on a long here x;)