If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
I don't think bitcoin should be seen as cash, it should be seen as digital real estate/store of value. That is what it has evolved to. Payments, etc can be done on l2's or one of the many other chains and I think that's a battle over the next several years to see which one wins.
It will. Appreciate that you might be heavily invested in it and I wish you no ill will. For what it's worth I think it will go up in the bull run - and suggest it might be a good idea to take some profits at that point - just on the off chance that what I'm saying is true. Good luck TH and have a great weekend.
TH - because it's very clearly a scam. If they could actually mine at 2.6 times faster then people would be biting their arm off or would be taking on joint ventures and that sort of thing. Instead the constant tease of coming soon.
There are many ways they could prove it to be true, without disclosing their intellectual property, but they have chosen not to. Instead they have chosen to continue raising cash and never taking any revenue.
If I thought for a second that it was true I would have invested in it. I just hope not too many more suckers get caught up in it. I feel their actions are criminal - as they are effectively taking money off punters.
Best summary of Riot question marks here - I'd add the abrupt sacking of Chad Everett to the list:
https://twitter.com/penny_ether/status/1769789511439962117
Haha well at a very high level it's true.
In 2021 the network was 4x smaller, but machines were about 2x less efficient - net result meaning half as much energy required. If Helios had been executed to plan with a path to 800MW and sub 2 cent electricity then Argo would be a monster just now. But yes you're right, you're talking about taking almost the entire output from a nuclear power station.
No idea what Riot is doing, they are in my don't touch pile, along with HUT, CORZ and Argo. Once they reach a certain level of incompetence they go on that list.
Mara is getting away with a lot of mistakes because they are #1 - but won't have that advantage forever.
But as we've discussed - bitcoin miner fundamentals mean a constant race to the bottom and a bull run investment only.
For the record, 1 GW of power is a massive amount of power and I can see this becoming the bottleneck rather than mining machines.
https://en.wikipedia.org/wiki/Nuclear_power_in_the_United_Kingdom#Operating
Access to capital/share volume is Mara's advantage for sure but it's what they do (or don't do) with that capital that drives me mad.
However I think we're near that point in the cycle where the disparity between the top few miner mcaps vs the tier 2 mcaps gets noticed and starts to narrow.
I'm still looking to get out of miners once bitcoin breaches 100, and yesterday was a great day as it gave a glimmer of hope that miners will run with bitcoin now.
Must be around 400-450 MW that CLSK has at the moment. 50EH requires around 1GW.
CLSK have opted for the S21 which runs at 17.5 J/T. They say they can get them down to less than 16 - but would be at a performance hit - or can overclock up to 10% for a small uplift in wattage.
So they are still to find 550-600MW of infrastructure if they want to go for 50EH. Interestingly the new Mississippi site is around 5 cents per kwh, which is more than their Georgia sites.
Based on Mara's and CLSK's site purchases I think that low electricity price sites are hard to come by.
Mara's one said 4 cents after curtailment - which means there'll be down periods to achieve that rate - which isn't ideal. Also they failed to mention the Garden City rate - which leaves a big question mark.
To me this makes the likes of Wulf and Soluna (and several others) more attractive with their low power costs. Although really they would need to be combined with the S21 to take full advantage.
Yes I meant price parity as that's what matters to me, the share price. Mara is making life hard for shareholders as they keep diluting which is restricting share price appreciating. Mcap may be growing but investors want share price to grow otherwise what's the point in investing in them. Mara still should be worth more than clsk just now but they'll get flipped in the coming years by better operators.
Yeah sector is undervalued for sure, but I've tried before to guess which will run first and sometimes right and sometimes wrong. This way in theory I should capture decent gains. But if they all run together that's great also.
I'll be watching them for a short squeeze, but think clsk will get share price parity first so will look to them as a rotation. I'm in about 8 miners just now as I've given up trying to work out which will run first, then will rotate after 50-100% runs. Hoping wulf carries on.
A premium is warranted but what size premium is the question. I'd say the gap needs some closing and would hold WULF over CIFR - although would note that CIFR seems to be re-rating and looking at moving into the top 5 if not there already.
I think I read somewhere that CORZ cannot legally hold bitcoin as part of the bankruptcy emergence.
Wulf definitely due a good run. Overpayment on loan expected in April from what they've advised. If you compare it with CIFR which is 1.3bil mcap (better balance sheet to be fair - but slightly less hash 7.4eh vs 8 wulf), you can see that this has room to run.
Got BTBT as well but think that will be a late bloomer, along with my beloved SLNH which will be last to run.
Interesting thread on Mara recent purchases - no idea if true or not:
https://twitter.com/Rex_Finance/status/1770473594734231786
Yeah agree - the scenario of miners going bankrupt on halving day just isn't going to play out. This is where I see a problem with Mara's post halving buying spree plans - I don't think they'll be getting the bargains they are expecting.