Member Info for CLSKBull

Fees were normally around .2 to .4 a block, so near 10% additional revenue on top of the new 3.125 reward would be fair to say - around 55% of pre halving revenue. However today we are seeing crazy fees far larger than the 3.125 reward, which few would have predicted.

MNS - I humbly admit I was wrong on my call. BTC did not gain new all time highs (74+) before halving since we had our gentleman's bet. The second part of the bet - CLSK is over $16, and feels likely it will stay over 16 by close Monday, gives me something to hang on to, but fundamentally I haven't called this right so admit that I was wrong on this. I do hope we start moving again soon though, and hopefully your trade plan comes together - best of luck!

Mara finally mined a block - 19.6 BTC. They may have played a blinder with this Slipstream or whatever it is - need to re-read it to understand it. But will need a few more blocks to verify. Read in conjunction with red rag's link regarding the bidding war issue.

https://x.com/jimmysong/status/1781518918001078441?s=46&t=b5w5XhS1rL5_nwa_nVQ15g

https://mempool.space/mining/pool/marapool

Good article - fascinating. A month or two if this would be incredible. Would really help debt ridden miners and boost the sector. If combined with BTC price going up and markets turning risk on we could have a perfect storm and exit opportunity.

Runes ds, started at halving. Must be a backlog to work through.

Yes most of the regular posters on here are invested in other miners. Clsk is one of the better miners for sure.

HK ETF approved - new source of demand could be with us as soon as a couple of weeks from now. Let's hope the Middle East settles down a bit.

Spitfire the issue is that BTC could go on a bull run but Argo could still go bankrupt, being on BTC itself is safer and more likely to give you a return. Argo overvalued at this point if you compare to similar peers.

Yes the fees are high just now. Ordinals and Runes apparently. I think hashrate will be down around 10% after halving, but quickly run to to new ATH after that as S21 orders start arriving.

On the halving reward, it's not 50% because fees are not 0. It's more like 55%, and if network hash drops 10% then more again. See fees column:

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

JWBellamy, no way this is going to 4 pounds - you're crazy.

"Is this market one where only the fittest can survive or is there space and profit for all to flourish."

Only the fittest survive, however when Bitcoin price outruns hash growth there is profit for all. This only happens in a bull run so most of the time miners will be in pain (as most of the time bitcoin is not in a bull run).

You need to have some scale, but size is not so important otherwise if you have low input costs - specifically low electricity costs, efficient machines and low corporate bloat. There are zombie miners out there though that rely on the market to prop them up and would not survive on their own - these should ultimately fail.

The worst part with these large ATMs is you just know they'll issue another one as soon as the current one finishes.

$4.20 would be very nice

They mean cash costs and have put a calculator on their website (does not include depreciation).

3.5cent per kwh electricity.

https://investors.terawulf.com/financial-information/cost-to-mine-calculator

Depends on the price of electricity that they are paying, for some it will be more, for some less. Terawulf is giving guidance of somewhere around 40k per coin costs post halving for example.

The monthly update released on Friday showed they will have issues for the coming months at ellendale, while they have ongoing issues at other sites also. Ongoing dilution does not help. Although hard to find a miner that isn't diluting just now. Market still not interested in miners but hopefully they come back in favour soon enough.

No because if the halving was 2 years away and everything else remained the same they'd still be done for due to the hosting ending.

However if it was a 10 year hosting agreement at current terms then things would be greatly improved for them.

Halving doesn't help but the hosting is the key issue to me.

I'm not convinced the halving is the end of Argo.

Galaxy has a good PPA, and Argo should be fine on the mining cashflow front if you look at Galaxy's results. Although it is hard to get an exact read on where things are. I believe they still have energy credits, and a slightly lower interest burden. General expenses are far too high for what the company is, but maybe more detail on that when the annual results come out.

The far bigger issue to me is the hosting agreement coming to an end. They won't get a favourable hosting agreement like they currently have, and the machines are modified for immersion, and they are unlikely to find an immersion host. Without a solution 2.2 EH comes offline and they have next to no revenue and ongoing costs outside of debt that they cannot service.

https://investor.galaxy.com/news/news-details/2024/Galaxy-Announces-Fourth-Quarter-and-Full-Year-2023-Financial-Results/default.aspx

The debt, the halving and the hosting agreement ending soon are the key issues facing Argo and it's hard to see how they get out of this.