Member Info for CLSKBull

Yeah couldn't have been worse timing for that news. And Argo switching away from bitcoin moments before it takes off, not a bonus worthy move. They may as well bring PW back at this point.

The way I see it is that trump's fan base are just awakening to bitcoin, which is a step change for most of them.

Bitcoin miners are not on their radar and will not be known about.

Once trump talks about bitcoin mining companies and they get better coverage they'll have their run.

Until now in this cycle it feels like the same investor funds cycling about and new money still to make an appearance.

Non issue:

https://www.prnewswire.com/news-releases/cleanspark-comments-on-trading-halt-related-to-clerical-warrant-conversion-error-302300039.html?tc=eml_cleartime

Not a lot of info out there, but they are involved in Mawson's HPC venture.

The RNS said they were informed yesterday (ie. Wednesday), but then the release came out Thurs afternoon. So they could have released this yesterday morning but did not. I suspect the Galaxy news release forced their hand.

Will they be able to raise funds for this is the question. I'm still baffled by the recent raise and wondering why the buyer went ahead with it.

The only outstanding question/hope for Argo's potential "significant expansion" is whether Baie-Comeau can expand beyond the 15MW or if that's the limit.

https://www.bec.uk/about-us

https://ng.investing.com/news/company-news/mawson-inks-multimillion-aihpc-colocation-deal-93CH-1489967

They are actually mining quite well at the moment. Clsk has done very well to nearly catch their output and there's still valuation gap to close, but mara is sure to make a big move soon. Just need BTC to keep going. I'm targeting clsk to $40.

0134, galaxy completed the pool.

cohan, bad luck with your timing.

***en the fans have all been stripped for immersion. only suitable for another immersion facility. yes they should sell to an hpc company but that would leave them with no business at all and still debt. ceo has to do some magic to save his bonus shares. a mining exec earning their bonus? not really the done thing.

Yeah 3 parts to it.

1. LOI - I wondered if they'd go down the HPC route there, it makes sense, but it's a small site. Think it's just a smoke screen for:

2. Financing - Raise incoming. They still need to convert that debt though.

3. Helios - think they rushed this out as the Galaxy was quick to get out. 28 Dec confirmed - machines are useless but might be able to sell at scrap prices.

I think bitcoin and the miners will outpace it, but it will be a late runner. So in my mind there's an optimal time to move some miner money over there, and that would probably be once the miners get a solid breakout, then rotate into kr1 for a second run. No idea what that timing will be, but it's something in the back of my mind (maybe btc at 85k or something).

I bought into KR1 recently too Dags - think it will 4x easy enough if alt season kicks off.

Yeah just saw it. As I said yesterday, the 2 years hosting was reported on 28 Dec 2022. We never saw any detail of the agreement, so would use 28 Dec 2024 as a guide - might be slightly before/after that.

They still have the one site in Canada with < 1EH - but the clock is ticking.

Had PW and Alex not messed it up, they'd be sitting on an HPC goldmine and the old Pete would be youtubing away. Shame.

Note that Galaxy might be worth an investment. Think they are on TSV and looking to uplist to NASDAQ.

https://investor.galaxy.com/news/news-details/2024/Galaxy-Announces-Third-Quarter-2024-Financial-Results/default.aspx

RR:

1) as alluded to yesterday with the ds thread - there is a theoretical network risk - with around 30% of the network controlled by US listed miners (and likely a bit more again with private miners), one could buy up half the shares in each and force them to vote for a change to the network. So you can control around 30% of the $1.5 tril network for around $15bil (1%). Miners are cheap from that perspective. So if they do take a significant reserve then this would be a risk consideration and perhaps they would take a stake. I think Trump will be supportive of the US miners especially with his USA first mentality. But it's an interesting dynamic, combined with Russia starting mining, and El Salvador having led the nation state adoption - game theory ramping up? It's amazing to watch it play out.

2) Not sure what you mean but I think the 1 BTC unit will be used for the foreseeable future.

3) I think the UK market has held them afloat and kept them overvalued for the last year. I don't think they would delist. If you look at the Canadian listed miners they never do as well as the US ones so I can't see that being an option. If they can afford it they'll hang on to the NASDAQ listing.

Isn't it great to finally be above ATH again!

Yes that is Argo's X factor, the dual listing. The 10:1 ADR means that if dumb money comes in hard during euphoria then it would get boosted by this. Still better options out there but it's a positive for them.

28th Dec 2022 the two year hosting agreement with Galaxy was announced. This comes up soon which is the main reason I think Argo won't last long - as I don't think Galaxy would extend it. However if BTC carries on running, there's a window of opportunity for them to raise and potentially get out of the mess they are in.

https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/xle259w

At end of Jan 2023 Argo was at 15p. So if you held all that time you'd somehow be even lower.

Trump (to be confirmed but 99% likely)

Polls were clearly off. Lovely to see BTC at ath. Let's hope we get some momentum and breach 80k this week. Will be interesting to see what he says about bitcoin and miners in the coming weeks.

If BTC max supply increased then it's no longer bitcoin - I don't see anyone wanting that, including blackrock.

Interestingly though ds, and you'll like this, if Blackrock bought enough shares of public mining companies, they could potentially effect change on the network for a relatively cheap price. Public bitcoin miners are worth less than 30bil, and for half that (possibly less), they could force them to use a certain pool(s) and vote in change. Think they are around 1/3 of the network. A > 50% amount they could control the network.

https://bitcoinminingstock.io/

If by failed you mean successful beyond anyone's wildest dreams then yes.

Miners are elastic - they'll come and go. I actually think that all mining machines in existence right now will be obsolete late next year/early 2026 due to 2nm chips coming out. It's an issue for large miners, not for Bitcoin.

If Bitcoin SV (Bitcoin Silly Version) is more profitable for miners I'm sure some will switch over.

Yes I know their history, unfortunately it does not make for good reading.

Pretty much any nasdaq listed bitcoin miner will do better. Argo is in a corner. They are likely to lose their hosting agreement which would cut their revenue to near 0, and have senior notes debt that they need to pay interest on - as well as other monthly costs. I think they could double though for sure. No fundamental support for it, they are already overvalued, but think it would happen if bitcoin ran to 100.

If BTC runs hard this will spike I'm sure of it. But I also think there are safer options that will spike higher, so I don't know why you would choose Argo.