Member Info for CLSKBull

Yeah - can't say I disagree with it but the same can be said for all the miners - they all seem to be insider enrichment schemes. But for us simple PI's we just need the price to go on a run and then sell out. Bitcoin being extremely stubborn though. Hopefully we break upwards in the next few weeks.

I'm liking the recent unsecured notes by MARA/CORZ/BTDR. As they have a long expiry date, it means they won't cause a share count increase during this bull run, whilst allowing the companies to get the money and do something with it. I need to review CLSK's miner commitments and see how likely it is if they will do something similar (I think there's a high chance but need to run numbers).

https://grizzlyreports.com/beware-of-terawulf-we-believe-the-company-is-a-charade-to-enrich-insiders-at-the-cost-of-investors-and-backed-by-notorious-pump-and-dump-artists/

I've looked into this and if I understand it correctly, convertible note holders buy the notes so they can capitalise on volatility (eg. via selling options) - and this is very profitable for them if the company has a volatile share price (BTC stocks fit well here). However it seems that they hedge somehow by shorting which drops the price on announcement. So the drop doesn't mean the market hates it - it's just something that is likely to happen on these announcements and offers us a discount. These offerings seem net good for holders and potentially a trade opportunity for traders.

404 - any idea why CORZ is not paying off debt with the warrant tranche conversions - I don't really understand this move - or is it just to fund HPC builds?

"Their unwillingness to dilute is the proof."

Shares on issue:

March 31 - 302,921,785

June 30 - 374,456,722

Subsequent Events: Another 3,546,036

The debt put me off last quarter and I think they were right to clear it, but Paul P I'm not sure about. It's just another miner to me.

Yeah would agree with that.

Yeah some good prices to move up from at the moment. I have some doubts as to whether BTC will break 100 this cycle, but let's see what happens - I think it will go up soon anyway.

From what I can tell, the drop before the Q3's was caused by them hitting the ATM to fund the deposit for the Bitmain order of S21 XP Immersion miners.

The miner execs across the sector treat existing investors with great contempt, CLSK included. However on the bright side that helps us to dump our holdings when we need to without feelings of loyalty getting in the way.

Yeah the jet purchase says a lot. However they have loads of machines coming in and should easily hit their hash targets.

It's a strange move - maybe Chippas has some relationships there he's been able to leverage.

I think it will probably work out for them but not sure why they'd choose already well valued Argo over another miner that was less well valued.

Interestingly Armistice is a New York based firm with USD $7.5bil AUM. The filings section shows they like to buy 5-10% of a company. Perhaps they do this sort of thing as a strategy - supply funds with a bonus of warrants/options attached for doing so. It's peanuts for them and potentially evidence that they are moving out the risk curve.

https://fintel.io/i/armistice-capital-llc

My view is that we're currently in a bull run (currently in a pullback, soon to resume), and fundamentals are far less important just now. I think you'd struggle to justify most miner mcaps from a fundamental point of view. The MARA raise/purchase is an interesting one - if you do the numbers it seems to make more sense to just buy bitcoin than buy miners/infrastructure. That changes if bitcoin runs and remains elevated - but bull run dynamics mean that this will be a short lived period of time - and the halvings make it continually worse. Unless fees go up and remain up I'm convinced the next bear will be brutal and clear out most miners.

But keeping it simple - if bitcoin resumes the run, miners will go up (including Argo).

Ok took a look as it was baffling me why an insti would buy 10% - what do they know? Well, they will have had a chat with the management team no doubt - maybe there are plans with the senior notes to resolve them - but the TR1 seems directly related to the placement.

What's in it for them?

"along with warrants to purchase up to 57,800,000 Ordinary Shares (the "Warrants"). The Warrants have an exercise price of GBP £0.1125 per share and an exercise period of five years."

They are taking a calculated risk that we're in a bull run and the price will go up.

Although to me it's already high - 636,352,148 shares, so a mcap around USD $75mil. Not convinced it's a great move, but it has certainly helped Chippas.

https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/x8yykow

https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/xpdvq1x

Mara has taken a gamble there and the market's first reaction was not good. But when BTC runs it will look a good purchase and support price. Although will be good to see the detail of it. Says convertible but I've not seen the details - presumably copying MSTR though so I think it will end up ok.

Gone to CLSK as they've got a ton of efficient machines being delivered and can see them going past their target hash, comparing to Mara I think there is a valuation gap to close.

Swapped my Mara back into CLSK. Hold various other but CLSK is now my biggest holding.

Migi had some news today:

https://www.mawsoninc.com/mawson-infrastructure-group-inc-expands-into-ai-and-hpc-markets-and-announces-the-signing-of-ai-hpc-colocation-agreement-for-20-mw/

When it hit the forties I did ask myself some questions, but opted for blind faith. Hopefully a fast run into the 80's.

Bitdeer better than stronghold, but stronghold small cap so could go wild

The investment case is now purely speculation of the share price rising in a bull run. Needs to be viewed as a meme coin is how I see it - although I'll stick with NPC I think.

Pretty sure that Trump doesn't care one way or another about bitcoin, but has realised that there are some votes and donations to be had so has made the clever move to jump on board. Democrats have been largely anti crypto, so will be interesting to see if they change their stance.

Harris has not been pro bitcoin, thinks it is drug money. Hopefully she comes out pro bitcoin

Yes completely agree, just need Trump to do his part tomorrow and hint at a strategic reserve and supply squeeze will come fast.

Various other entities adding to treasury/portfolio. There's a new NASDAQ listing coming that says they are going to copy the MSTR model:

https://x.com/fold_app/status/1816068687247315252

Feeling very bullish just now - although Trump is key to it and it might be a complete nothing tomorrow. PCE today also.