They don't have the safety net of dilution like the big ones have, however I'd argue small doesn't mean bad, as if the company is well run and they have low input costs there's no reason for them to suffer any more than a big miner. Although the share price will move in bigger percentages in both directions. Of course I aim to get out before the top as I don't want to be left holding again.
I think as ATH's are breached and fever sets in these will outperform the big boys % wise by a good amount, and I think that time is coming very soon.
Yes I've got a good stock of SDIG and they announce results today - some good news would be nice.
Digihost has now moved to 2.4 EH - market cap US$56mil.
Argo 2.7 EH - market cap US$95mil
Digihost has its own infrastructure, mined 94 BTC last month and has very little debt.
That's the competition your are dealing with here.
Neil, Argo and QBT have fundamental issues - Argo has too much debt (which they are working on), and an inefficient set of machines that are currently hosted by a 3rd party but the agreement will end later this year - so their future is very uncertain. QBT is a scam as far as I am aware - a lot of false hope but never any delivery. These things are reflected in their price.
The halving impacts miners, as it means they mine half as much bitcoin as they did before the halving (technically a little more than half due to fees but still a significant drop).
It's just fear for now - one day for no bigger reason than them dropping today and they'll run up again. If you wanted to stick it on something it would be the upcoming halving, but the narrative will change soon enough.
Mara not helping things as they have a 1.5bil ATM they are making use of - dishing out shares like confetti - makes the sector look bad. But they'll be back.
Repricing has already taken place - miners should be much higher than this for this bitcoin price. Market for miners spooked by halving, but hashprice creeping up - 50% higher than a month ago - soon the halving will be negated (if the bull continues).
Looks like it wants a second run for a new ATH after the high leverage flush.
"The Transaction is expected to close by the end of March 2024 upon the successful completion of customary closing conditions, including entry into a definitive share purchase agreement and certain regulatory approvals."
Anyone know what they mean by "including entry into a definitive share purchase agreement"?
It's not growth, but that galaxy debt needed sorted, and it now has potential to be sorted. As I said, the note holders there is probably a deal to be done for a % of them. Then they can activate their growth game plan (via raise).
I'm not recommending investment as there are much better options and ultimately I think they go bust - but they are in a better place now than they have been since the announcement of near bankruptcy.
I think bitcoin going past 70 will see some movement for the miners and hopefully get fever pitch around 100. Ironically most the miners now have the same investment case as Argo, reliant on bitcoin run. At least bitcoin is doing its part.
Agree - with BTC looking to potentially take ATH this week, and the halving imminent, there'll be a lot of activity in the coming few months. Those with large facilities and good input costs will be high on the shopping list (did someone say WULF?)