Member Info for CLSKBull

Different miners and setups have different values. I think Cleanspark's were around 4.6 or something per kwh last time I checked. 40% overhead for cooling sounds too high to me, I think the mining industry achieves 10-30%.

That's not true.

You've all missed my calculation adventures, so here's one for old times sake.

The S21 Pro that Cleanspark are buying is 15 J/T. It can mine for an electricity cost of $29k.

Workings:

- Current network hash of 630EH

- Rewards only excluding fees of 450BTC per day.

- 1.4EH is required to mine 1BTC a day average.

- electricity cost of 5 cents per kwh

- S21 Pro is 234 TH

- 5983 machines required at 3510 W each = 21MW requirement - add 10% for cooling let's say 24MW

- 24MW at 5 cents per kwh

- 24000*0.05*24 = 28800

What if you add fees? What if the electricity price is lower than 5 cents?

Ah yes, the notes do go to 30 then start again 1-6 for some reason that I can't make sense of.

Employees = 30, wages = 6mil, indicating average salary of $200k.

I don't think the 31 includes depreciation Hexam, but like you this is out of line with previous reports and unclear on some items, and as I said it seems to be truncated.

The report seems to be truncated stopping at note 6, which suggests only 6 employees - which doesn't sound right. Anyone got the full report?

Quick glance makes me think they are losing money mining now HC.

Fees back down below 1. Think end game is coming.

I can't see it either but it's also true for many mcaps that make no sense to me. When the market goes irrational anything can happen - why you would choose Argo over another miner who knows.

The bitcoin miner investor pool is fairly clued up/experienced is my read. You can see the way Mara has been punished for their operational issues and liberal use of the ATM - same with Riot and HUT with their issues, while CLSK has executed well and been rewarded by the markets. There seems to be logic to some of the share price movements.

We are still waiting for the point when the investor pool widens and things go crazy, but to me that requires BTC heading to 100 to bring more people in. It won't go as many multiples as 2021, but I think we could see 3 to 5 or more x's on a good number of miners if BTC goes above 100 - and I think it will all happen relatively quick.

I'm looking to close a high percentage of my holdings after bitcoin goes above 100k (if it happens).

Helios was switched on in 2022, so most were switched on then. Galaxy seemed to get a good PPA, and that is Argo's main asset just now, and more than makes up for the inefficiency of the ~30 J/T machines they have. However Argo's overheads are high (why who knows as all the work gets done by the host - Galaxy - so they have a lot of staff doing seemingly nothing), and the interest payments are a drag.

So at this point in time they are treading water fine in my opinion - perhaps sinking a little but not enough to drown them.

The real issue is the hosting agreement ends at the end of the year and it's not in Galaxy's shareholder's interest to continue the current agreement as it is, so I can't see that happening and that's the brick wall they are racing towards.

Yes they are overvalued by any fundamental analysis, but no chance would I short a bitcoin miner in a bull run. At the end of the bull run yes, but who knows when that is.

Yes that's the part that no one knows, I didn't think they'd still be elevated now but they still are.

HK etf goes live April 30 according to twitter.

HC, currently miner revenue is around 75% of what it was pre-halving thanks to the elevated fees. I'm confident there is no post halving hash reduction, and expect network hash to carry on upwards.

So there hasn't been a "halving" for the miners as yet.

See fees column here:

https://explorer.btc.com/btc/blocks

Https://data.bitcoinity.org/bitcoin/block_time/5y?f=m10&r=day&t=l

Block times back below 10 mins, I don't think we get any drop in network hash. Although makes sense with the fees making up most of the halving loss. Miner machine efficiency and electricity cost are key for miner success.

Don't know sorry Mooh.

The next difficulty is not the true change, as it was mostly in the pre-halving period, so the real sense of network drop will be seen on the subsequent difficulty change, which will be around 2 weeks away. However tentatively I think we only get a 5% to 10% drop based on current rates of block production.

However the 1BTC plus fees just now are the unknown, if they stay at an average of 1BTC, then instead of 50% miner revenue post halving, it's more like 60-65% revenue - or ~20% more revenue than the market was expecting.

The market hasn't priced these elevated fees in, but whether they persist remains to be seen.

Now just need this HK ETF to go live to lift demand.

Sorry brain not working, 6 blocks an hour not 10, so not a massive drop in hash after all. Makes more sense!

Yes good luck all, getting exciting again.

85 blocks since the halving which should be 8.5 hours, but here were are 16 hours later, so potentially hash has decreased more than I expected, but will know more over the coming weeks.

Fees easing off now, 3 BTC fees per block just now.

BTC has not been a P2P ecash system for many years now. Sure you can use layer 2 as a cash layer, but really it's digital gold/real estate/etc. has various use cases, but let's just call it a financial asset and not pretend it or any of these coins are going to replace the $.

Mns is waiting for a miner drop post halving, presumably next week, to buy in, might still happen but might go up instead - who knows at this point.

Look at the fees column here

https://explorer.btc.com/btc/blocks

If you scroll back a bit you'll see how they suddenly jumped post halving because the runes protocol became live.