Member Info for CLSKBull

Everything seems to be tied to DXY (US Dollar Index)- which has been on the increase for the last month.

As soon as this starts coming down again markets (and bitcoin/miners) should start moving.

Although if it keeps going up we'll likely experience further pain.

S&P 500 Index has held up well against the rising DXY, and I see this as a positive sign.

Although ultimately I'm still expecting a crash within the next 12 months (after a bull run).

Haha it had PW written all over it. I think shareholders are capable of working out how the share change works. Not sure if it is a merger of equals though and whether it is value for but holders, even at huts current low valuation. My guess is it gets voted down, which would put management in a tenous position.

Haha there's only one PW - probably on holiday and telling holiday makers how he did an amazing job with Argo. "Did I tell you about the time we got to $1bil market cap?" "Yes Peter you did".

Good point that I don't want to think about regarding keys to the hodl. Can you imagine! Best not to think about these things lol.

CLSK hinted at buying some bitcoin - so don't be surprised if they announce some at their next update. Also I heard they are hiring an M&A lawyer so I'm sure there'll be all sorts of deals going on across the space especially with halving coming as you say. I don't see them merging with HUT.

HUT's latest post which indicates they think their holders are not that bright:

https://twitter.com/Hut8Mining/status/1697242425566069141

To be confirmed via monthly updates but I see them as:

MARA: 1106.2

CLSK: 657.3

RIOT: 333.5

It's definitely a good hodl play as the market loves hodl. However the diversification into high performance comptuing was a bet gone wrong. They assumed ETH POS would be delayed but it wasn't, so they've rebranded as high end computing and are earning 4mil revenue a quarter from it - not sure what the input costs are for this revenue.

I'm not convinced at all by the management there, they give me Peter Wall vibes (once bitten etc).

I'll keep tracking them and if I thought I saw a good trade I'd consider it - but don't think I'd touch it before the merger was complete or voted down (think there's potentially a 10mil fee if it doesn't go through).

Steve that ratio seems absolutely fine. 280k in safe investments, and 10k in a separate account on high risk bitcoin miners.

If you managed to 10x your 10k then it would make a very nice difference to your pension. However if the 10k account all goes wrong then it's not a big deal in the grand scheme of things as you've kept your 280k separate.

Well done on breaking even after 100 trades, that's a very good start as many would have lost a lot after that number of trades when starting out. Just be careful with the buzz side of things as I'm not sure that will help your trading and you might enter trades for the buzz rather than because it's a good setup. 100 trades is good experience as you'll have an idea of trades that worked well, and ones that were clearly bad trades - and you can cut these out and start shifting to profitability next.

Hut is going through a merger with another company. HUT's current monthly mining figures are very poor (even worse than Argo). However they have a large number of Bitcoin held which is propping them up. Until the merger is complete (or voted down) it's not one I'll be investing in and I also don't rate the management there so not sure I'd invest after the merger either - unless it looks very good value.

Wulf hard to get a read on them. Price moves all over the place with them so might be a good one or might not.

As some have said you might want to hold a number of different miners rather than all in on one.

ARBK jumped 24% yesterday and closed just shy of 10p equivalence. They can often behave quite differently. In a bull run would be interesting to see which one leads. However good news for holders is it takes it comfortably above the $1 mark for now so delisting concerns can be forgotten for the time being.

https://www.nasdaq.com/market-activity/stocks/arbk

My fault Hexam - it looked like the RNS had finished but actually there was a lot more to it by continuing scrolling.

HC - more detail here:

https://www.sec.gov/Archives/edgar/data/1841675/000165495423011284/a6393k.htm

Big thing for me was that they are actually getting curtailment credits.

"advanced discussions to sell certain non-core assets" - not sure what that means - probably Pluto.

Severance expenses suggests finally getting rid of some staff.

Thanks Steve. Ultimately no one knows what prices will do, so it's all an educated guess at best. Wrong just as often as right - if not moreso!

0134, yes got it right and wrong at the same time. It can be a frustrating game which is why I normally hodl rather than trade. Just trading a small amount compared to hodl to see if I can out perform hodling. Wild swings on that account, somehow I'm up a bit on it. I'm short s&p just now targeting 4200 and if that happens will then flip super bullish. I suspect mara will run faster than riot on the next rise. Me and riot don't mix.

Agree Cromw3ll - I think markets take a dip before running again. Powell will no doubt do his bit.

It's always the way - often drops within minutes of buying - never gets less annoying!

There's definitely room for a new party to come in and clean up. Existing two are both useless and people are voting on who is the least worst option, but the reality is that there isn't a least worst option, they are both the worst option.

Well not obsolete but at a big disadvantage. I would have thought there'd be a closer competitor to bitmain by now but they still lead. I suspect they frontrun the market for a bit before releasing each step change. They are one outfit that will always do well it seems.

He loved to spend. Perry was the one that seemed to be the key to Argo's success but putting aside PW's lies, Helios never delivered. Over a year now and always underperforming. But they continue misleading with hashrate capacity. I wonder if they fried a bunch of machines.

Dodgy bunch of CEOs and board members indeed.

That's the frustrating thing, Argo should be in the mix just now with their sub 2 cent electricity and immersion overclocking. They had the opportunity and blew it, but the clues were there and you saw them, I took him at his word.

Mara doing great at mining the most just now but their costs are too high and their miners obsolete as of bitmains 2024 machines.

In April 2021, Mara were making significantly less revenue than they are today - and this will be true post halving also.

Although definitely agree the best days for mining were in the past. As it stands I intend to drop all mining investment in the next bull as the numbers and capital requirements just don't add up.

https://ir.mara.com/news-events/press-releases/detail/1238/marathon-digital-holdings-announces-bitcoin-production-and

I think the publicly listed miners now have a greater percentage of the network than they did in 2021. So if BTC and markets in general run like I'm looking for them to do (before a huge crash in 2024), then in this scenario the profits would look very attractive and allow solid multiples similar to 2021 but perhaps not quite as many x's.

The rest of this year has a lot to play out still.