Member Info for CLSKBull

Thanks HC - fundamentals look great - any chance of them doing a share buyback? Or do they do dividends?

Shows how crazy the markets are - still can't believe Argo is sitting where it is - they've even stated that Helios might kick them out later this year. Maybe a lot of the shares are held but forgotten about - but they keep issuing new ones so you'd think there'd be a glut.

I'll take a watch of the video - but we seem to be living in a strange world at the moment where fundamentals don't matter so much. I still see a crash coming early next year (keeps getting pushed back I know - and a stopped clock and all that - but it is coming I'm sure of it) and I think we'll see fundamentals become important again over growth.

I think the NVDA chief said orders were good or something and sparked the turnaround yesterday.

Kamala is solidly ahead in the polls but quite some time to go so I'm sure it will seesaw and lots of crazy events to come. Wouldn't rule either out. Bitcoin/Gold and Indexes all hit ATH's under democrats so I wouldn't worry so much about which one wins, it's just a distraction - our time is coming soon.

Dags I don't see WULF as the place to be - peer comparison shows it to be significantly overvalued.

CLSK has 23EH online, and will hit 30EH soon, along with 7.5k hodl and comparable energy prices, with an mcap around 2.3bil.

WULF has 10EH, and a mcap around 1.7bil.

Unless you're seeing something I'm not the gains are surely better to be had in CLSK over WULF.

https://investors.cleanspark.com/news/news-details/2024/CleanSpark-to-Add-5-EHs-and-Increase-2024-Guidance-With-Acquisition-of-Seven-Additional-Bitcoin-Mining-Facilities-in-Tennessee/default.aspx

I don't think it matters who wins, Kamala hasn't come out as anti bitcoin so I don't see it impacting that much. Still see a run and crash whoever wins.

Mara has hired some execs with AI experience so looks like they'll be jumping on the bandwagon - seems that AI is holding all the miners up while we wait for BTC to break out.

Quarterly statements look good - they could buy a couple of private jets each quarter without diluting. I don't like that they are listed on AIM - but I take it they are fairly well run?

Yeah the private jet made me laugh. A good reminder that these are not real businesses. The next bear/economic downturn most will go bankrupt I think. Might have to move over to one of these gold miners that can self support. HC, what are some of the better gold miners again? Hopefully BTC runs October and the carnival properly starts up again. Getting harder to hold at the moment.

Yeah that was a strange deal - even with the options it's an odd investment. Crunch time is coming for sure and they really need BTC to run up soon.

Cash flow wise they are not terrible and can drag on a bit longer - although now post halving and a lower bitcoin price it is a lot harder. With the galaxy loan gone it will help a bit though. I would expect another raise before year end.

Share based compensation figure still solid. It's pretty clear to me that next comes the growth narrative followed by a hefty fundraise to keep the gravy train running. Timing is critical, they'll get one chance to raise a decent figure if/when we run towards 100.

"3) The Company may not be able to extend its hosting agreement with Galaxy on terms that are acceptable to the Company. In addition, finding acceptable alternatives may be challenging given that the miners hosted by Galaxy are an older fleet and in immersion fluid."

https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/w6vk1gx

Thanks for that - shame there's nothing sustained on this front.

Yes true - I think if/when we see a parabolic move, SLNH will properly launch, as they have a small number of issued shares (think it was 5.5 mil) so a volume spike would gobble up all the shares.

Patents - See their annual report "Intellectual Property" section or search for patent - seems more about building designs:

https://www.sec.gov/Archives/edgar/data/64463/000149315224012303/form10-k.htm

Yes great move on BTBT yesterday following the new customer announcement. I was thinking of rotating but would like to see it over $4.

CORZ update here:

https://x.com/Core_Scientific/status/1825992776380563623

WULF seems overvalued now vs peers. I don't quite get this recent move but market showing them love so well done holders.

I think they will all be similar across miner suppliers - but 2nm chips are coming out next year and this is what will bring the J/T down toward 5 JT - it also means that all the miners currently in existence at 15+ JT will be obsolete. Quite a lot of money to write off. But I'd expect the bull run to have completed by then so they'll all have other things to worry about.

https://www.tsmc.com/english/dedicatedFoundry/technology/logic/l_2nm

https://en.wikipedia.org/wiki/2_nm_process

Raised loads, made a mess of it all, now struggling to survive.

They are basically Bitmain people that have gone off and setup a competitor. I see them as a Bitmain competitor - but yes there will be links with China. Website says "Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan."

Make their own machines with ~5J/T machines coming next year. (they get their chips from TSMC) - this will annihilate all existing mining machines.

Doing the whole AI/HPC thing with 2.5 GW of capacity.

Loan rate was 8.75% I think - agree it is high.

https://ir.bitdeer.com/news-releases/news-release-details/bitdeer-unveils-sealminer-technology-roadmap-committed-enhancing

https://ir.bitdeer.com/news-releases/news-release-details/bitdeer-reported-unaudited-financial-results-second-quarter-2024

MB I hold some MARA - as they still the benchmark - but they will almost certainly do another convertible note offer which will mean another hit. I don't rate them at all and look at them like a miner would be if the government tried to run one - but they have the volume and liquidity to keep them artificially high. I would have held on to clsk but the 15% discount on btdr was too tempting for me - but not sure of the digestion period for the offering - I may have jumped early.

If a miner runs and I miss it (eg WULF) I just leave it alone.

Same Jimmy - last quarter the HPC revenue/costs were solid for BTBT, and think they'll be even better this time (12.4 mil rev). The stock has held value better than some of the peers in the recent downturn. I think the ETH drop from quarter to quarter isn't as deep as the BTC drop either so FASB losses might not be as big as BTC hodlers (rough calc of around 4.3 mil fasb loss for eth and another mil or so for BTC) - but lower BTC mining rev and higher costs. So I think we might still see a loss, but let's hope for the best.

Jimmy take a look at BTDR as well - some amazing stuff going on with them.

MB I've no idea - I feel they are lower than they should be when you compare to Mara - however if they do one of these convertible notes the share price will drop 10% like the others did. There's no pressing need for an additional fundraise just now - but really it could happen at any time between now and year end. I'm heavy in BTDR (and SLNH) as I think they have bigger upside potential, but at this point they are all reliant on Bitcoin and the Markets going for a run. I'm enjoying the portfolio approach of several miners, as I can re-balance if something overshoots or becomes deep value - it sort of works (nothing earth shattering) and keeps me busy while waiting for the main part of the run (if it comes).

Ok CLSK has about 365mil to pay to complete miner purchase commitments this year (including all the recent machine options which let's face it they are likely to exercise) - and they have 408mil left on the ATM. They also have 124 mil cash on the balance sheet.

It is highly likely they'll make additional site purchases/M&A and need additional funds to build out planned infrastructure growth (GRIID purchase sites with plans for MW uplift/development).

Therefore I believe they will fundraise again before the end of the year to bolster financing for this growth. Having seen these other companies perform the unsecured notes my guess is they'd do the same.

They will be a monster though - they have 73 EH either on hand, on order or via these options (excluding the 22JT+ machines they have written off).