Member Info for CLSKBull

Haha - yes they probably are a better play than Argo actually.

Hexam - QBT is 2.6 times the profit - what's not to love?

I still think the miners will outrun BTC, but it might be 2x the % rises rather than 3x with the ETF sucking up some of the demand. But in a mania phase who knows it could do anything.

Today's price action might just be down to Riot's rubbish results tarnishing the industry.

I'm super bullish. BTC might retest 30k in the coming week or so but don't care - ETF seems more likely than not - pause seems baked in now and markets thinking about rallying. Need some confirmation in the coming weeks but it's tentatively looking very good for a general run, followed by risk on.

Fedwatch is suggesting March-May as a good chance of rate cuts and when that happens I'll be out or looking to get out. The next 4/5 weeks are pretty important.

I think miners will run - but I don't have particular expectations for price targets - whatever the market wants to give.

"there's a strong argument to be had that they know far more than PIs"

History would suggest otherwise - they are clearly a bunch of clowns. CLSK is one of the few that I'd rate their opinion.

There's that horrible phrase "hash rate capacity". I will not touch a miner that uses that phrase.

Riot are meant to be expanding so the dilution was always coming. Don't understand their valuation they are clearly not very good.

Nice fees coming in just now - wonder if they will stay elevated into the halving:

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

Sold out of mara when the new ATM was announced. Just got clsk and some s&p options. If clsk goes on a run I'll maybe swap funds around again but for the moment will stick with them.

Chaebol you're getting the full Argo experience - primed for success followed by a series of bad decisions, side projects and half truths, watching what could have been slowly slipping away until you're left with confusion as to what just happened.

They'll still be fine for the bull though. Assuming there's a bull, I'm exiting all holdings at whatever I think is near the top. Hopefully BTC will run over 100.

"The company also continued to hedge a portion of its BTC holdings. As of October 31, 571 BTC were pledged as collateral and no longer on Marathon’s balance sheet."

What does that mean? Are they hedging against BTC price drops? Don't they know it's bull time now? Makes more sense to do that after ATH? Are these 571 BTC at risk now? Then they want you to vote in more bonus shares. Seems the easiest job in the world to be a mining exec

It's a really good narrative for the industry so I'm glad they've done it.

Mara has found its rightful place at the tip lol.

But seriously, indexes moved nicely after fomc which has strong correlation to miner movements. Miners up while bitcoin dropping is always nice to see, we've got a good way to catch up to July prices. Market feels like it wants to carry on though, let's see.

Once clsk has the new site online (hopefully not too long after new year), they'll be outmining CORZ - with much better efficiency. Hopefully Powell decides to be nice to us today for a change....

If bitcoin goes to 100k, Mara's revenue and earnings shoot up and make it look very impressive (less so after halving). As Riot is mining approx a third that Mara is, they are not comparable in that scenario. But at a low BTC price with Riot getting low input costs, I can see some logic to the similar valuations. Meanwhile clsk trades at book value while making all the right moves. I think valuations will sort themselves out when the sector comes into favour again.

Clsk improved their operational hashrate to 10 and bought 4.4 eh of the latest most efficient miners at 17.5 JT, for around 20 per th, should be market moving news but no love from the markets for it. Market indifferent to miners just now.

Good comparison and yes that seems very likely. They'll place as soon as they think the market can absorb it.

Thanks HC. Yes I think Argo's future is not in Argo's hands.

Anyone running the numbers will see the situation they are in and will likely consider other options. However there are plenty of punters and traders who don't care about fundamentals and if there are enough of them it could do anything.

My dream scenario is .com part two. However macro and micro environments are ugly so suspect there's < 12 months for this scenario to take place.

CheapShares - as it stands they are not looking at being profitable going forward.

They are reliant on BTC revaluing to a higher level if they are going to become profitable.

They have debt at a high interest rate, and they have just over a year left of their hosting agreement which will likely not get renewed, and their machines are >50% less efficient than the latest machines on offer.

If BTC goes on a strong bull run they'll have a chance to sort themselves via dilution to eliminate the debt and invest in a new site/machines etc. However they do not have a good track record. Their strongest USP is they are the only UK listed miner. As such in a bull run they could do alright for a well timed trade. With the bitcoin halving, and an ETF approval likely coming soon I think they'll get their chance to save themselves from the mess they are currently in.

https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/xzk7o7x

Yeah I think we get there - and having these big institutions suddenly pro-bitcoin pushing to their clients will make a difference. ETF hopefully approved/live before end Jan (sooner would be even better).

Argo's rigs are about half way through their hosting agreement also - which will probably not get renewed let's face it. As they are immersed they have been modified for this purpose - so I don't see them being moved elsewhere - maybe Galaxy buys them for a token amount - who knows. Really they need to get a CEO as the temporary one is not really doing anything much. To be fair I'm not sure what a new CEO could do as they are a bit stuck...

"The biggest questions/fears that always nag at me and i guess for most investors here..... is this space financially viable ?"

I think the answer is No as it's a race to the bottom - and invested $ vs what has been built/achieved is insanely bad - however during a bull run there's a few months when everything looks different and it's all worth it - and if the ETF moves the price along to a good degree then there'll be a period of time (say a year) when it is until difficulty catches up again.

I am hoping to be out of miners in the next 6 months but let's see what happens.