Member Info for CLSKBull

I would like to think anyone that jumped ship did so because they had performed analysis and came to the conclusion that clsk was a good option just now rather than just because someone said so. Pretty sure that's the case here as most of the remaining posters on this board are pretty dedicated.

404 - Yes there's that outside chance of further dilution, but they've achieved their massive expansion aims (funding wise anyway), and to me that release was saying to the market that dilution is done for the moment. I think they let it run - at least until it's at fair value.

Yes they have a great track record with timing - with bitcoin sales at the top of the market, and machine purchases at the very bottom, setting the floor price. I listened to the earnings call, and they sounded VERY bullish on bitcoin. Their track record is impressive.

More to come HC - I'm expecting this to rerate - as we've seen across the sector with other miners - Balance sheet now stronger, and dilution done for the 16EH expansion.

Personally, I think BTC might still complete a dip down to 28.2 or maybe as low as high 26's before rebounding strongly and breaking through the 32 barrier. Been waiting for this for a long time now though so who knows.

Earnings transcript if anyone wants a look:

https://www.cleanspark.com/wp-content/uploads/2023/08/FY2023Q3_Earnings_Call_Transcript.pdf

It was amazing news - was expecting the dilution to be running to end of Sep for the Bitmain order, but they have gone above and beyond and put the market's concerns to rest. Looking for $10 as a short term target.

Results were in line with expectation but the major news was this:

"We have fully funded our growth to 16 EH/s, including miners, facilities, and other infrastructure, on top of a record-breaking quarter in terms of growth and revenue," said Zach Bradford , CEO. "We now operate over 9 EH/s of efficient computing power at some of the industry's best all-in electric rates. That growth is translating to record-setting revenue. We have over $90 million in cash and almost 1,200 bitcoins on our balance sheet as of today"

Finally the dilution can rest and we can run free.

No problem if you're not interested, it's not for everyone.

"What's the bull case? I fail to see one."

Supply is getting eaten up by the month, while interest in the sector carries on and it is expected US Spot ETF's will be approved within the next 6 months which would further increase demand.

It feels unsure of direction - flip a coin.

Future is not looking bright for them and as DS says they might be bought out (or assets cherry picked).

https://www.nasdaq.com/market-activity/stocks/migi/sec-filings

My guess is CLSK gets involved at some point.

This is interesting DS.

It seems marginally better to mine BTC from what I'm seeing - however there are moments as you say where if transaction fees heat up then BSV would be more profitable. Although on average it appears to be less so - just looked at one site though so open to being corrected.

I assume that the standard Bitcoin miners could mine BSV?

The big thing for me is that the BSV halving is later than BTC. So there's potentially an opportunity for some BTC miners to jump to BSV on halving and make a higher reward. Although I'd expect the opportunity to be short lived - and the network hash is pretty low. Something to watch out for anyway.

Poor results and worrying for the industry. Hopefully it gets swept under the carpet quickly.

New machines online were presumably xp's with a lower power draw but hosting still went up at a greater % than hash growth.

Ironically if they sold more bitcoin they could have shown a profit.

100% getting out of all miners in the next bull. I don't see many surviving post bull

"Just incase anyone thinks i am best mates with poorinvesters. no i am not. i still hate his posts. lol."

That sounds like something a best mate would say.

Both have sub 150 mil of cash which doesn't explain a 2 bil differential. Both are going to grow and demand additional funds presumably be via ATM.

Mara's revenue is very strong and with current performance I could argue their valuation is fair. I'm even looking for them to show a profit tonight and have switch out a lot of my CLSK into Mara for these reports (expecting CLSK to show a loss - slightly better loss than last Q but still a loss).

Riot will underperform other miners from this point on in my opinion.

HUT has a massive HODL, but relatively low Mcap vs Mara/Riot. Partly because they are rubbish at mining and partly because of this merger - without these two things I'd be interested to know where it stood. Mara and Riot seem to attract a premium as the chosen ones. If CLSK purchased 10k BTC, I still think they'd be lagging behind the two on mcap beyond hodl/EH allowances.

However not all is lost - in the last update CLSK's insti holding went up, while others stayed flat/went down. Only the one data point but let's see the next one when it happens.

https://images.fintel.io/us-clsk-so.png

https://images.fintel.io/us-riot-so.png

https://images.fintel.io/us-mara-so.png

https://images.fintel.io/us-hut-so.png

https://images.fintel.io/us-cifr-so.png

For awareness there's an update from the SEC due by Sunday for the ARK Bitcoin ETF.

Expectation is that there'll be no decision, but a delay.

https://cryptoslate.com/arks-cathie-wood-expects-delayed-bitcoin-etf-decision-but-predicts-multiple-approvals-later/

Hard to know with WULF - why did they sell is the big question.

The best days to get in are definitely the big drop days - always the risk it can go down a bit more better than fomo'ing in at the top.

So Riot hit my $16 target after taking out my stop. Typical.

Craig is not satoshi, satoshi comes across as someone who wanted to do good for mankind, while Craig seems just interested in himself and litigation.

Not sure what their hodl plans are but clearly wanted to move it up a bit, is definitely something the market seems to want in a miner. Happy with what they are doing, huge achievement to get to where they are. Shares in issue is a consideration which is why I'm doing these sideways trades. If I time then right I can get bonus shares and out dilute them. So far it's worked well. Much better than my trading attempts.