BTC/USD Awful for ARB.24 Jan 2020 09:19
Imo this btc price is bad news. It's probably just high enough for small miners to be making a profit which increases the hash rate, but the price isnt high enough to give us those big profits.
Pure speculation of course, but there is a sweet spot in btc price for arb, which may be lower than where we are now, but where the hash rate drops as small miners become unprofitable and switch off operations.
Truely, we'll probably never know, and we can't do jack about it anyway, but as mentioned, imo this current price is bad news.
On the positive side, even if what I'm saying is correct, we're still a cash generator and profitable company. Good news for ARB. Said it a few times but I believe that Q2 results will be the catalyst here with our full order of T17s installed. However, again more positive news is that they're installing these new machines faster than I imagined, and I already had high expectations in the first place.