Member Info for CLSKBull

Euan I normally invest on fundamentals, and QBT has more red flags than a CCP convention. That doesn't mean the share price won't go up and down, so good luck with your punt. A lot of people will lose money there - but some will make money - let's hope you manage the latter - best of luck.

Euan - QBT has been talking about these methods for years now and done nothing with them. How many bitcoin have they actually mined? Clue: rhymes with hero. How much interest have they had from other companies? How much have they raised?

If they could do what they claimed they would have been bought out. While they have been doing R&D with their uni student, mining machines have become more than 2x more efficient.

Mushky suggest you include some of the other UK crypto options like GST,KR1,COIN, or some of the NASDAQ companies in your research.

Looks like old gen machines to me (by 2022 date XP at best but likely S19's)- no infrastructure in the deal they get hosted via Core Scientific - although not clear if the hosting is ongoing or a new host to come.

Still a bold move and could more than double hash?- But they need to do something with these existing notes. Interesting development anyway in the saga that is Argo.

https://gemmining.com/#overview

https://gemmining.com/gem-mining-announces-july-2022-production-update/

https://x.com/gem_mining

Mushky look at QBT's revenue and news releases over the last few years before you invest. They are a scam company.

I'm not suggesting you invest in Argo either as they have their own problems, but do a bit of research before you jump in.

Yes UserSteve 640,350,353 is the current share count.

I'm not even going to try and do the calcs on how many will get issued for this!

"598.9 ounces of gold doré poured as at 24 March 2025, a 14% monthly increase."

It's good news. This company is not valued for its 1000 projections, it's valued as though it is not making money. Anyone who sees this as bad news is frankly stupid. Upwards we go.

Increase in gold, happy that we got an rns and that everything continues in the right trajectory. A good day ahead.

Very interesting, Argo coming out fighting.

Probably a decent choice, he was behind the Helios project, and it was a good project, just let down by PW. I'd say their chances have increased. Still in a very tight corner though.

It was just a string of failures. Helios was a great idea, but they only raised enough to build it, not to kit it out with machines. Failed to get a PPA, got side tracked alt coins, it was just a string of bad decisions. I gave PW way too much credit, he was right place right time and that made him look clever, but he was not in control of it at all and seemed unaware of costs.

Galaxy making a good profit on the deal though.

Hopefully it's like Legalwolf says and there is a reason for it and it is still to come.

But it doesn't get away from the fact that this share has one major issue which is lack of volume. Only 8mil traded today, which is about £80k's worth. It's really really low. A bit of good newsflow would certainly help.

HPC requires significant investment and significant time, neither of which Argo has. Why would someone put money into Argo's HPC initiatives when they've proven themselves a failure at bitcoin mining. It just isn't going to happen.

The either have to come up with something high risk/high reward, or just fade away over the next few months.

Really they should have somehow dealt with the ARBKL's by now. Oddly they are still sitting at 7.7 cents. Maybe they see asset value in the site on bankruptcy?

Yes Dai, I agree that there are different classes of owners and retail PI's are at the bottom of the pile without the same informational advantage. It's a bit like a plane with first class, business class, premium economy and economy. Together we likely make up the biggest holding but get the worst service. It's not specific to GRL - it's listed companies in general. I often listen to earnings reports and they take dumb q's from Analysts that clearly know next to nothing but don't take questions from retail that often know the business inside out.

Nothings going to change and I'll carry on holding here as I think the trajectory is still favourable, but it is a shame we didn't get an update.

And this is in a BTC bull run (might not feel like it but it still is).

The next bear will be brutal for miners - I can't see many of them surviving. I know a lot have switched to HPC as a balance, but in a general downturn I don't know if it will be enough. Hopefully BTC starts moving again soon. I think we maybe get one last dip into the 70's before it gets going again. This cycle has been so weird.

To be honest I'm disappointed they didn't do a monthly update. It erodes trust.

Although they need to focus on the core business, they do need to update us - after all we are owners of the company. We can only assume Feb was not a great month, and therefore we see the share price underperform.

As you say gold is at a great level and rising - but it feels an opportunity is being missed here. If you're going to do monthly updates, then you need to stick to them, good or bad. [Rant over]

Yeah $275 is certainly in the range I would expect. They are effectively junk though, unless you have cheap power. So arguably it's a good deal.

S19JPro's are 30.5 J/T, while all the newer ones are around 15 J/T. So electricity draw/costs are double.

At 8 cents per kwh (typical hosting rate) you're making a loss at the moment - breakeven is about 6.5 cents at the moment:

https://www.nicehash.com/profitability-calculator/bitmain-antminer-s19j-pro-(100th)

That's just electricity cost, and clearly they have other costs - so yes they are bleeding cash. Even if bitcoin runs hard they are done for - unless irrational exuberance kicks in and the stock pumps and they get a raise off. But again it's good money after bad.

Well it's rarely wrong so definitely not expecting a cut.

However if the wording of the release suggests increased chance of a future cut then that could be boosting for the markets and that's what I'm hoping for.

Fedwatch gives 99% chance of rates unchanged.

No as the rate will not cut today it will remain the same.