Member Info for CLSKBull

They don't all update at the same time so there's likely still data to come through. Definitely would be looking at BTC units rather than $figures also as it's much easier to understand. There are other sites that track this that are probably better, but because of the lag it makes it harder to understand what's going on sometimes.

Nvda great news, hopefully a turning point.

No it isn't. Would be nice though.

Yes growth, last week was more than the week before but much less than the two weeks prior. The daily gbtc is made up of the non genesis sells which is continuing a downtrend, and the glut of genesis sells that we have to tolerate for a bit, but they are much smaller than the initial two weeks which was not much fun at all. I think we see buys a lot more than more than sells across the ETFs and btc continues to rise.

Growth - it has slowed - the first two weeks were 10-15k BTC sales a day by GBTC, the last couple of weeks less than 5k a day - even taking Genesis into account. It has allowed net buy rather than net sell as 404 says - and BTC price action has moved roughly in line with ETF nets from what I can see.

ETF demand has been solid. I was worried we might peak out at 50 or so, but I think it will get going now that the GBTC selling has eased up. Argo would start moving again if this happens - although they'll take another chance at further fundraise. Really they should open an ATM like the other miners do now that they are on the NASDAQ - weird that they haven't.

In CLSK's report it says:

" For all entities, the ASC 350-60 amendments are effective for fiscal years beginning after December 15, 2024, including interim periods within those years. Early adoption is permitted for both interim and annual financial statements that have not yet been issued (or made available for issuance). If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the fiscal year that includes that interim period. The Company has elected to early adopt the new guidance effective October 1, 2023 resulting in a $4,183 cumulative-effect change to adjust the Company's bitcoin held on October 1, 2023 with the corresponding entry to beginning accumulated deficit."

Fred better get on the phone to Cleanspark's accountants.

https://www.sec.gov/Archives/edgar/data/827876/000095017024012812/clsk-20231231.htm

Hexam - not sure if you know the answer or not - but could Mara do this for their next quarter (which is Q4/final), or would they have to wait for the following quarter?

Agree it's all smoke and mirrors but the headline that goes out is a profit and that's good for the sector and share prices.

Markets looking good and gbtc volume decreasing, looks promising.

Well done on the profits bowlers, you're either a genius or incredibly lucky. I personally prefer not to invest in companies that are close to bankruptcy, but you and PI have shown it can work. Feels like luck but maybe you've done statistical analysis on companies in this situation and worked out an asymmetric edge.

It's not negativity it's realism, which you can fact check via their financial statements.

However if BTC runs above $50k then sentiment will switch and we'll all be happy.

I don't see it going POS - but agree the miners are not a great investment. They are great in a BTC bull run, but outside of that they are not. So if you can pick the beginning and end of a BTC bull run then you'll do well, but no chance I'm holding for another cycle. I'm looking to get out in the next few months.

Etf demand has remained pretty decent, and the gbtc selling has now reduced, so maybe the next couple of weeks we see the btc price start to move.

2.8 eh should have produced approx 160 BTC if you benchmark against cleanspark. However I don't think Argo had ever achieved benchmark figures since Helios was opened. They have been mining closer to benchmark lately though so that's something positive, but I suspect some of the 2.8 is faulty given the long term underperformance.

Any thoughts on Mara's poor mining the last week? Are they moving machines to the new site?

Yes but price has gone down indicating significant selling. You could say it was caused by BTC price but I haven't seen the miners tracking BTC movements very well lately.

Doesn't matter, I'm sure BTC will be over 50 soon enough.

Some demand has gone over to etf, however let's be honest, bitcoin price action has been boring. Until it starts moving I'm not expecting a lot.

Yeah we all have to try and read the markets which is near impossible - but that's my read - and could be totally wrong.

For me it is different this time as there is an ETF now which is dictating price movements, and markets are running. The demand for the crypto bull market last time around had a lot to do with unique circumstances of stimulation cheques and covid. I don't see where the demand $ comes from in H2, especially as my view is that markets will tank H2.

My opinion is that I think this cycle is different and I'm not looking for 6-8 months in the future, I'm looking at next 1-4 months, and the run might happen before, or into halving.

ETF launches have been very positive, but the GBTC selling nullified it. However the GBTC selling seems to be slowing down, while the demand on the other ETF's is still pretty solid. Yesterday we saw a good rise, and we'll see the rest of this week what happens.

S&P 500 made new ATH again yesterday, so tradfi is already in a bull run.

FOMC tomorrow is the key event this week though and let's hope JP is kind to us.

They had been talking about stranded energy last year I thought - but never any detail. Not sure what they could offer a third party though as they've not got expertise in the area.

He's getting paid a fortune in bonuses because he brings something special to the table right?