Member Info for CLSKBull

It would hardly be a secret society if I told you - but since you asked, everyone that posted today is in the society.

Why would anyone short this it would be stupid. Best case for a shorter is it goes to 0 - 5.5 points, worse case everything goes mad and the shorter loses a ton of money. It's not even a 1:1 risk reward ratio. Any shorter on this deserves to get liquidated, however anyone thinking there's a secret society of shorters on this share are delusional. It's just another QBT now.

It's a tiny sum for a NASDAQ listed miner (which Argo still is).

Riot just issued a 500mil raise via convertible notes today, which will likely be at 0% interest rate.

People are lazy and don't like to do any legwork - it's true in all areas of life. We're all guilty of it I'm sure. Those that are successful are the ones that make the effort.

Hexam yes I guess people like to learn the hard way. Certainly in a new phase of the cycle though and it's a good indicator of market sentiment. Beginning of the end. It's not peak yet though.

Somepikey - perhaps I belong in an institution, for obsessive compulsive bitcoin miner disorder, but if you think I'm part of some shorting conglomerate then that says more about you than about me.

Argo was once a great company, but sadly they blew it. The investment case here is a dumb money bull run only with added obstacles of potential bankruptcy or another large raise to fund any HPC initiatives.

JBCo - I'm not sure of any other crypto plays on the LSE. There's a miner ETF - DAGB - which would give you exposure to a range of miners - that would probably be the best miner play. Is there a reason you can't buy NASDAQ shares?

There's QBT on AIM but that is perhaps even worse than Argo. Wouldn't touch them.

There are some on Aquis though:

There's KR1 - they have alt-coins and are likely to do alright with alt season - I've got some.

There's COIN - small cap that will probably run but highly speculative - I've got some but I consider that money at risk.

There's TAP - Peter Wall is involved with this so I won't touch it after what he did to Argo.

Somepikey, I've given my honest opinion and shared specific facts about miner efficiency.

The leading miners - MARA, CLSK and IREN are using circa 15 JT machines, while Argo is using 30.5JT machines. This means that Argo's machines are using twice as much electricity per bitcoin produced, so therefore input costs are twice as much, unless they get a super deal on electricity (which they won't if they are hosted).

On the flip side I'd also argue that we're entering the stage where fundamentals matter less, and we're clearly seeing on the board new names appear that know nothing about bitcoin mining but think the price will 2x or 4x. These things are possible if enough people buy.

I don't like to see people lose money so I'm sharing my thoughts, however if people are insistent on going ahead on this then that's their choice. However if I see blatantly wrong information I'll respond. But if the board gets flooded with morons then I'll probably just leave them to it.

30.5 JT - check out the newer s21 series, as low as 13.5 JT. You're doing the right sort of research, just be open to other miners. Argo could have been great but made a series of bad decisions and have been on a downward spiral the last 2+ years.

https://www.asicminervalue.com/miners/bitmain/antminer-s19j-pro-100th

Possibly but they are old gen 30 JT machines while new machines are less than 15, and they won't get the same price per kWh that they had at Helios, so I would not expect such a hosting agreement to be viable.

Machines are modified for immersion, they won't find another host for them. Don't waste your money on this there are better options.

The news was released on the morning of the 2nd though - so it wouldn't be forward selling, just immediate selling? Anyway I think you're probably right that it was this sort of transaction and they must have somehow worked out the volume that they could shift for a profit (or pre-arranged it somehow via the MM's).

Sounds like maybe they needed the funds fast. Not sure what was in it for the investor though.

https://www.collascrill.com/articles/jersey-cashbox-placings-the-antidote-to-your-cash-flow-problems/

It's not a normal raise for shares. Not sure what they are doing but guess it will make sense in time.

"The Subscription will be effected by way of a cashbox, involving the issue of new Ordinary Shares for non-cash consideration. The institution will subscribe for redeemable preference shares in Project Maple (Jersey) Limited, a new Jersey-incorporated subsidiary of the Company ("JerseyCo"), in an amount equal to the net proceeds of the Subscription.

The Company will allot and issue the Subscription Shares on a non-pre-emptive basis to the institution in consideration of the transfer by the institution of the redeemable preference shares in JerseyCo to the Company. Accordingly, at the conclusion of this cashbox process, JerseyCo will be a wholly owned subsidiary of the Company and its sole asset will be cash reserves approximately equal to the net proceeds of the Subscriptioin. The Company will then be able to access those funds by redeeming the redeemable preference shares it holds in JerseyCo. Further shareholder approval is not required to effect the Subscription by way of a cashbox."

https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/xpv34jx

Hosting contract is to 28th so they should keep mining until then.

The investment is in a different subsidiary so maybe they bin off the senior notes entity and are debt free in the new entity? Jersey based. There's some plan but I don't see them as a bitcoin miner anymore.

If it gets up to 20-30 in the heat of the bull run I'll be very happy.

Showing now, weird.

HL, they show in my account - must be MM games.

Yes bought 1.05 mil of them in total - only 450k show on the site though, not sure why:

https://www.aquis.eu/companies/COIN/trades

Got a nice stack now - MM's out of stock now.

Happy 100k day.