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Https://twitter.com/BITMAINtech/status/1773656744440275412
15 j/t the most efficient miner out there as far as I know.
This is what they will be executing, and presumably some facility purchase to be announced. The good news is they'll be the most efficient machines in the market, so the electricity requirement will be as efficient as possible.
https://investors.cleanspark.com/news/news-details/2024/CleanSpark-Announces-Strategic-Agreement-for-up-to-160000-Bitmain-S21-Miners-Path-to-50-EHs/default.aspx
Chuz it's an additional 800mil. Presumably they've done the 500 already.
This will be for further expansion. At 16 per th, 10eh costs 160 mil, and presumably they will aim to get to 50eh that they have the option for.
It is not a great look that they sold shares before announcing this though. Ultimately should come good, but will lag for the coming weeks is my guess. I got mostly out a couple of days ago but more luck than judgement.
If you look at mara price action since their 1.5 bil ATM announcement, or the various other miners that are doing an ATM just now, you can see what's coming. Basically a month of trading sideways and slowly lower. It is an unfortunate part of this sector. Will need to compile a list of which miners are running an ATM just now
Dags there is:
https://www.sec.gov/Archives/edgar/data/827876/000119312524080846/d760517d8k.htm
Yeah I think the short report is not the reason for the drop. I think it just retraced. The report just says they think the premium is high, which it is, but everyone knows that so not exactly news. End of month/quarter and long weekend also likely suspects.
Yeah agree completely. CLSK have done very well but they are far from perfect. My main issue with them is the excessive bonuses - basically a 15% tax on shareholders, and the preference shares - which mean they can vote anything through - although for the latter it seems all miners do that anyway regardless of shareholder wishes.
There's a large valuation gap on CLSK vs some of their peers - so it's a good time for rotation for me. I'm pretty heavy in WULF and think that is due a run to above 1bil.
Yeah it wasn't a great look from Zach - and Matt's comment on mustard gas was not thought through. It is expensive and can be unsafe would have been enough.
Reminded me a tiny bit of PW when Argo was at 1bil - got caught up in the hype and went to his head.
Yesterday I closed some CLSK and rotated as it felt like they'd had a good run and others were due a catch up. I may have even bought some stupid Mara lol.
Did you see this video - Zach in particular taking aim:
https://twitter.com/rex_finance/status/1773034561556869145?s=46&t=FaZfq3g15rd24j9QfgSutw
I don't think they can pay the noteholders off, but they could do a deal where they offered them options/warrants/etc on terms that made sense to both parties. Eg. options at price X would give the company some cash out of the deal. Noteholders are at risk of getting nothing so it's in their interest.
However the bigger issue is what happens at end of the hosting agreement at Helios.