Member Info for CLSKBull

I think in essence you are correct. Argo is not in a good position, so whoever took the role would know that it might result in a failure on their record, which would limit the candidate pool.

The bonus shares vest over 3 years and are subject to "performance conditions" although I'm not sure what these conditions are.

He'll be getting a salary as well - and the RNS says he'll get further PSU's on the first and second anniversary.

As I think BTC will continue to run with the ETF likely coming - I think Argo will get a chance to survive (via dilution), and I think Mr Chippas will be a very happy man indeed.

No, it means revenue halves. However if bitcoin price doubles then this negates it.

However block fees are now coming more into the mix, so halving is having less of an impact than previous halvings.

More important to bitcoin price is the upcoming etf.

So why pay down the cheap debt so early, why all this dilution at such cheap prices. They could be raising at twice the price and half the shares.

This will most benefit Mara as they have the highest hash. Half tempted to move some back in there - but not sure Fred is reading the market the same way I am. They seem to be too bearish on BTC.

Well spotted mwhite - they are averaging 2+ BTC per block at the moment

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

Not sure what went on in July vs now.

There seems to have been a collective realisation that the publicly listed mining model is a bit of a financial lost cause. Since then difficulty has continued to go up and the halving has come more into focus and the worry that revenues will half.

Also there has been ongoing dilution which hasn't helped - and we are still to go full "risk on" in the markets.

However that all said - bitcoin doubling price negates the halving - and bitcoin is doing its best to sort out this mess for us. CLSK has had a great run the last couple of weeks and is the exception in terms of market cap July to now vs Riot/Mara.

Stronghold is undervalued.

Wulf had debt issues I think.

Argo has various issues discussed here many times.

GM402 - Argo was in a different position in 2020/2021 for many reasons. The CEO at the time got ahead of himself and focused too much on big ideas and not enough on details. Most of the big ideas subsequently went wrong - some bad luck, some bad judgement. About a year ago the company was almost bankrupt, and had to sell core mining centre Helios, which Galaxy purchased off them. Argo is now in debt and not profitable. So the £3 share price does not look likely to happen again.

Miners are good about 10% of the time - when bitcoin is on a bull run. They normally outpace Bitcoin rise by 2 or 3 times the rise. However the reverse is try when bitcoin is falling.

Alt-coins can be rewarding, but you can also lose all your money - they are the highest risk and highest reward (you'll likely lose money on them in my opinion - but there are people who make money on them).

Investing in Bitcoin itself is probably the safest route.

Or you can allocate your investment across the different ideas.

Migi up around 50% for the day. HC if you're around - did you end up buying?

Most of the regular posters here are in other miners. The most recent news from Argo is they have a new CEO.

Yeah think there was a glitch on google finance for Friday close as LI says. It's currently at 8.70 pre-market (13.87%).

Pre-market looking good there. They need to hold over $1 for 10 days I think to regain nasdaq compliance. So depends on whether BTC dumps or not really.

LI - CLSK has been undervalued for a long time and finally catching up on fair value. The annual results seemed to spark it, although I've no idea why as they weren't remarkable - but not complaining! Great day yesterday for CLSK holders.

Bought some Migi as a punt yesterday - it's got $2.80 written all over it. Might buy some more if the price is under $1 on Monday. Price really moves on low volume.

404 - yes I wonder why no one has done that in the UK. I used to have bitcoin held in my sipp via some type of etf type thing - but then it got removed from HL.

I wonder if MSTR are good at catching local tops because they are causing the local tops with their buying?

I'm guessing they are targeting 210k bitcoin, then they can say they have 1% of the supply.

I think it's probably a good trade at these levels for a small amount - and should regain NASDAQ listing compliance if BTC carries on upwards. I think once safely of $1 it would appreciate further.

It is not a great company by any means, and there is definitely a risk of it going to zero, but there's also a decent chance of doubling or more. Migi vs Argo - I would choose Migi and might even place a little trade.

Ok a couple of points (DSFlat has mentioned some of these before):

There's a risk of sale of the company - as the CEO has this statement in his options - "In addition, if the Company undergoes a change in control, all Options shall be fully and immediately accelerated." Not sure if this is a good or bad thing.

https://www.sec.gov/Archives/edgar/data/1218683/000121390023089849/xslF345X05/ownership.xml

Recent developments from Q3 filing:

On August 22, 2023, Mr. James Edward Manning resigned as a director of Mawson Infrastructure Group Inc. (“the Company”). Mr. Manning resigned from his role as the sole director of the Company’s Australian subsidiaries effective September 4, 2023.

On September 28, 2023, the Board of Directors of the Company announced Mr. Ryan Costello, former United States Congressman from Pennsylvania, to serve as member of the Board of Directors effective October 2, 2023. Mr. Costello will serve on the Board until the Company’s 2024 annual meeting of stockholders at which time he will stand for election alongside the Company’s current directors. The Board has also appointed Mr. Costello to serve as a member of the Audit, and Nominating and Corporate Governance Committees, and chair of the Compensation Committee. Mr. Costello’s appointment was decided upon after seeking a nomination and recommendation from the Company’s Nominating and Corporate Governance Committee. The Board has determined that Mr. Costello qualifies as “independent” in accordance with the published listing requirements of NASDAQ.

On October 4, 2023, the company received written notice (“The Bid Price Letter”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company is not in compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”). In accordance with Nasdaq Listing Rule 5810-2(c)(3)(A), the Company has a period of 180 calendar days, or until April 1, 2024, to regain compliance with the Bid Price Rule. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed $1.00 per share for a minimum of ten consecutive business days during this 180-day period. The Bid Price Letter is a notice of deficiency, not delisting, and does not currently affect the listing or trading of shares of our common stock on Nasdaq, which will continue to trade under the symbol “MIGI.” The Company intends to actively monitor the closing bid price of shares of its common stock and may, if appropriate, consider implementing available options to regain compliance with the Bid Price Rule. If the Company does not regain compliance within the allotted compliance periods, including any extensions that may be granted by Nasdaq, Nasdaq will provide notice that the Company’s common stock will be subject to delisting. The Company would then be entitled to appeal that determination to

Migi has an mcap of 11.5mil, while ARBK has an mcap of 62mil - so MIGI can still almost triple and still be half the price of Argo.

So the question is are we missing anything here? We should deep dive a little.

We know about the loans there - which is certainly a risk, but how big a risk?

How likely are they going to go bust in the next few months?

We know they are less than $1 a share - so they are below the NASDAQ $1 requirement - need to confirm the status on this.

Ps. at current BTC price it should be at least $8 - but miners have been out of favour recently - that will change when BTC runs.

It's hard to say - back in July it was at 7.50, when BTC was at 31.5 - and Mara was over 19.

Now BTC is at 38 and both are at a lower price, even though indexes are near ath.

Also since then there have been more shares issued by the various miners which impacts market caps. I look at CLSK's mcap relative to Mara and Riot. Based on what they are mining, what's to come, and their assets/liabilities vs mara/riot - the mcap should be at least 50% of these two. CLSK's annual results come out tomorrow after close, and we'll get an updated shares on issue - I think they have diluted as there was a couple of days a few weeks back where there was high volume and a big price drop - it has since caught up.

When BTC runs to 41/42 I think CLSK has a chance to run at $10-$12 - depending general market conditions.