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Iran Approves Cryptocurrency Regulations

This news was announced on August 29, just weeks after Iran's Trade Development Organization approved its first official import order -- worth $10 million for the import of cars -- using cryptocurrency.

https://www.rferl.org/a/iran-cryptocurrency-regulations-skirting-sanctions/32009292.html

Iran Approves Cryptocurrency Regulations

This news was announced on August 29, just weeks after Iran's Trade Development Organization approved its first official import order -- worth $10 million for the import of cars -- using cryptocurrency.

https://www.rferl.org/a/iran-cryptocurrency-regulations-skirting-sanctions/32009292.html

Pooling EH has dropped by about 7EH in the past 12 hours as miners presumably are switching to alternative pools.
Seems unlikely to affect Argo or the other NA public traded miners as they remove mined coin from pools on a daily basis.
If it blows up it could potentially benefit NA miners due to most miners using Poolin apparently based in Asia and could presumably create liquidity issues for some of them.

Russia is close to pushing legislation for the use of cryptocurrency in international trade

https://bitcoinmagazine.com/business/russia-to-legalize-use-of-crypto-in-international-trade

Russia is close to pushing legislation for the use of cryptocurrency in international trade

https://bitcoinmagazine.com/business/russia-to-legalize-use-of-crypto-in-international-trade

Call straddles is something Fred Thiel briefly talked about at the recent Bitmain World Digital Summit:

1:59 into video; https://youtu.be/Padxh3jRRNQ

Worth listening to the Q2 results CC (imo)
Raised $9.6M in Q2 from the judicious use of the ATM (30mins in to CC guy sounds like Elmer Fudd :-)
Good Q&A discussing Canada increased VAT and potential issuance of new MW by Quebec, Paraguay and Argentina and of course rigs and finance.
https://bitfarms.com/investors/financial-information
It says audio but goes to slide presentation + audio

That tweet was from last year ;-)
They have used it but unsure how much they have left but it should provide them with adequate safety net should they need it.
Looks like they used circa 11m shares of the ATM in H1 this year.
They still hold the expensive coin they bought and only sold some of the cheaper mined coins ;-)

I feel PW took his eye off the ball when it came to energy supply and costs and presumably could have focussed on this when they bought the lump of land.
Cipher fixed in 2.7 cent Per kWh and they have only just begun energizing ops... (interesting graph on their latest CC/ Presentation.
Even Mawson just released July's update and they picked up $1.8M from Energy Demand Response, equal to approximately 84 Bitcoin. (I'm still buying into that one ;)

So I'm out of Argo again, loans, lack of energy price visibility and cash requirements are not aligned for me..

I'll be back (but not until some of these issues are sorted)

Thanks ArgoBull,
I don't have a lot in Mawson and yesterdays dump actually just wiped out the profits I had made on MicroStrategy.
I've been spreading my bets out a bit recently and currently hold ARGO, CORZ, BITF, HUT8, CLSK, RIOT and QBT
More of a scattergun approach right now and if BTC goes up most of them go up and if BTC goes down well you get the picture :-)
Hoping for some positives from PW later today

Agree it does look grim for Mawson. The Nasdaq $1 rule presumably means they will be looking a reverse stock split to maintain their listing in the coming months. Their Canaan rigs don't appear to perform as well as many alternatives and if they were to attract hosting contracts they would have to take on Core Scientifics new approach to payments in advance with decent profits built into any deals.
That said I doubt there is much if any requirement for hosting right now due to the Bitcoin price. That could all change of course but as to whether Mawson will still be around when Bitcoin gets to profitable levels is another matter.
I still find the Mawson story interesting (not so compelling) and perhaps they could seek out an alternative approach to their hosting via stranded energy hosting deals... Long shot but there are several Oil & Gas companies trialling Bitcoin mining using stranded energy ExxonMobil apparently being one of them...
https://cryptonews.net/news/mining/3873977/

Long shot but if I were the CEO (he sounded very nervous in the CC) I would be pitching the idea to see if it had legs.

They are on a sticky wicket that's for sure ;-)

This Is The BIGGEST Red Flag I’ve EVER SEEN From A $BTC Miner!!!

Talkin' Investing
240 views Aug 23, 2022
https://youtu.be/Ke5zLVUAjog

Looks like I'll be carrying those bags for some time lol

524 views Aug 22, 2022
Helios Update: Mid-August 2022
https://youtu.be/Q5Pptip1LW0

Looks good

So I was looking at their efficiency (and other things like the Celsius hosting deal) and June numbers were reported as 127 with 1EH self mining, which seems very good...
July looked like 178 with 1.7EH stated as fully installed at the end of the month (not so good but assumed rigs came online late in month)
So this got me thinking how some miners could be potentially cooling rigs to improve efficiency without using leci fans or immersion...
Which led me to this article:
'World's first liquid-nitrogen outdoor cooling system set for trials'
The secret: liquid nitrogen. Standard tanks holding this frigid liquid at -196 °C (-321 °F) are loaded into the coolers, and when they're switched on, the liquid is slowly released. It expands rapidly to nearly 700 times its liquid volume as it becomes a gas, and the coolers harness the energy in this expansion through a mechanical engine, using it to blow nitrogen gas out at a much more palatable -10 °C (14 °F).
https://newatlas.com/lifestyle/green-kinoko-nitrogen-outdoor-cooling/
Not a PLC :-( I would have bought stock if it were)... https://www.green-kinoko.com/

The Globe spinning the wrong way in their promo vid always makes me chuckle and is often shown like this at EU gatherings :-)
Anyhows I thought it was interesting hence the share

Anyone here invested in Mawson ?
I sold my MicroStrategy yesterday and started buying Mawson ahead of Q2 results (worked out quite well so far)
They don't HODL but they do manufacture their own modular BTC mining pods, provide hosting, are ESG focused and have long leases on five operational locations in the USA and Australia with 19.2 potential EH capacity.
Low MCAP circa $55M, mined 490 BTC in Q2...
I think they look inexpensive and could become a target for M&A (imo)
Here's a link to their website and latest presentation (used last night in CC): https://mawsoninc.com/shareholder-information/
Apparently they are developing their own immersion system which presumably would also modular.

Thought I'd share the info (I was shilling it on ST last night and increased watchers from 325 to 327 lol, worth a look imo

I breezed over these ATM's on the QBT board this morning.

RIOT have used $300M of their ATM (think it was $500M facility)
BITF have been chipping away at their ATM (think it was $500M Facility)
CORZ just released news of their ATM ($100M)
MARA have been using their ATM (think it was $200M)
HUT has been covered here already...

The Q2 financials for the US miners don't paint a pretty picture albeit it's really only snapshot when Bitcoin has been on it's knees. The info is being collated by 'PatientBill' on StockTwits.

Argo came out quite well in his Q1 calculations, waiting to see how Q2 stacks up. RIOT doing better than most on cost to mine one BTC which is encouraging (assumed helped by the credit)

There's a chap on StockTwits 'PatientBill' who compiles info from the BTC miner quarterly reports.

His calcs on total cost per BTC including depreciation from Q2 reported results:

Total Cost Per Bitcoin:
MARA $76k
CLSK $38k
HUT $49k
CORZ $77k
BITF $38k
RIOT $35k
GREE $50k

These total costs to mine obviously vary but as a snapshot in Q2 from their financials it does at least paint a picture of the difficulties they are all facing, why some are selling down their HODL and why they are tapping the market for funds.

Bitcoin miners have been reporting Q2 results in the US and with BTC at these levels and increased power costs they would all appear to be on a very sticky wicket. Cash costs to mine one Bitcoin are being reported from $11,500 (BITF) but the true cost to mine for these companies is far greater ranging from $38 k (BITF) to $77k (CORZ)

Many are currently running ATM's, RIOT just issued $300M in its ATM, MARA, HUT, BITF and CORZ are also all tapping into this shareholder dilutive funding ranging from $100M to $500M facilities.

Bitcoin halving was briefly discussed in CORZ and BITF recent conference calls with both companies talking about actively testing immersion mining presumably as the only way they could imagine remaining solvent if the Bitcoin price doesn't rise to a level where 3 BTC per block mining reward covers costs after the halving.

I'm not sure the current Bitcoin miners are even viable which I suppose then threatens the Bitcoin networks future...and Bitcoin...

Innovation is required beyond the immersion optimization, what that is and who brings it to the market is anyone's guess but at least QBT are aiming their Ducks in that direction.

Quack Quack :-)

CORZ and BITF talking about actively testing immersion in their q2 investor conference calls. Came across as looking like a necessity with the halfing coming into sight.
Helios could be a good thing (could)
Decided to have a nibble at ARBK today after improved mining numbers and that clear out of those rigs.
Survival could become about efficiency if BTC doesn't Moon anytime soon.
Fingers crossed for Q2 results

I used to pay myself about the same and take another 50k in cash when I was running a small business.

Pretty certain FG isn't blowing it on the sort of stuff I did but TBH so long as he does his best to deliver I could care if he does.