Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
"Not all miners have huge debt flowerpot. Iris Energy has little to no debt."
There might be a few miners Tubeness, but i bet there's none operating with a high EH that have no debt. ....And they soon will have , if they want to keep expanding to keep up.
Hi Chaebol
Yep expect the bull run will be roughly the same as usual, In the 3 months before halving or in the 6 months after.
The one good thing with the miners now at these low small prices is , they will multiply in price long before btc will in the bull run!
All seems ridiculous really with all the debt they are carrying with the need for spending never slowing down to mine less & less.
Just need to remember not to be too greedy and keep top slicing more then usual this time round when things finally get moving !
GL mate
"QBT can mine 2.6X quicker than any other miner. They are now looking for commercial partners , , mainly large American miners."
They wouldn't need to look for anyone if this was true..... Every miner would be beating their door down !!
"As part of the agreement, Argo has committed to an initial purchase of US$8 million of ePIC's mining rigs and will have priority on all future production runs of ePIC machines globally for 2021 and 2022. Expected delivery of the machines will begin in early Q4, 2021. Larger scale delivery of ePIC machines will commence in 2022.
In addition, the Company will assist in the development and testing of future products and will be given an option of a first right of refusal to purchase additional production. Argo will also provide space and capacity at one of its facilities for ePIC's research and innovation engineering teams for development purposes for future machine"
This was the big scam of an RNS they used to pump up the SP around that time... I think PW sold around £3.7 million worth from memory @ £2.40 & above
At least he wont be using argo funds to buy himself a place on another company's board anymore!
£5 million to Epic on account for over 2 5 years before they see back a few thousand rigs installed.(plus intels bill) unbelievable!!
Pinochio Pete will get something right at this rate... Argo will be the first btc miner that's carbon neutral
"Hexam a 20 million figure usd or gbp was deposited for the intel machines ? Whether they’ve resolved that order ? And they get .3 eh for money down already "
They still owed a proportion of money to intel & Epic August 31st chaebol, with 6600 rigs supposedly on order. So you might well be right with the order size decreasing & no further money owed.
But what a waste of all that money last May for epic to design , test, and build ( if it was true) all those rigs for immersion mining at helios , for them to end up with a few thousand air miners instead... maaybee Q4
If these 300Ph of Epic buzzminers do arrive Q4, they still only have room for roughly another 400ph til it's full !. Surely too little miles too late.
"They could have filled Canada with new machines from January. 6000 machines for 20 mw"
Chaebol , its strange how some of the new rigs weren't sent to Canada last year instead of being installed at helios.... They must of realised what a complete balls up they had made at helios long before they were still adding rigs in September.
That 20 million figure must be well shredded by now.
Thinking it was in pw last video way back in December he said argo was going to concentrate short term on Canada. !! ... by adding 300 pH over 9 month later. (Mayybe) Absolute hoke
"They may have a few thousand of those old junk machines doing Zcash?"
This is more blated misleading bs from their website... Still advertising having 5% of zcash goble hashrate .. 280 MS like they've been saying for at least over 2 years now ...
These rigs do last a bit longer than btc miner, but they are well over their life span !
Yes mate, all rigs at hellos were brand new from the core scientific swap & the new bitmain order, they where added from box may to September
All of argo rigs at helios are under a year old, their not aging at all ...
The small amount of rigs at the Canadian data centre are knackered and have been off line any way for over a year!
But it certainly looks like it going to be all over for them imo
Don't get carried away with their Epic order... The rigs aren't Blockminers like their trying to claim . They are Buzzminers like hive use. 300PH won't cut and mustard being install end of Q3
You missed out the end.... we are pleased to of hit our goal of delivering long-term value to our shareholders."
Yep same old spin
I see Quebec power price is being quoted as competitive !
Bet that will be another big whopper in the next investor presentation. For when they finally start mining in Canada again
Harchris argo rigs at helios are all under 1year old due to the swap agreement with core scientific and bitmain order.
Its not about replacing those machines, but raising funds to increase their terrible low EH
Renewed Focus on Quebec
? Going forward, in the near term, Argo will be focusing on improving operational efficiency at its Quebec facilities by optimizing its mining fleet and utilizing excess capacity at these sites
Utilising excess capacity.. but they are empty of all mining rigs apart from the
140 Ph of offline knackered zcash miners, which they keep using to bump up eh to confuse people with this misleading word capacity
Raising hashrate by 12% from September
2022 of 2.5eh capacity to an actual 2.66eh working hashrate in a whole year if the intel arnt late in Q3 2023 is terrible.
Less hope some money can be raised long before then to buy some rigs
face plate 1 eh of old machines get binned because they get less efficient and knackered.
That should of been learnt here last year when 700ph of s17 was producing nothing for 6 months
Hash is hash, 1 EH of 19jpros produces the same amount of bitcoin as 1eh of XPs."
As mining investor was comparing argos older machines against newer rigs hes correct. Ie Argos face plate hash value of 1EH does not produce the same amount
of btc as any make of newer model rigs with a face plate 1EH value
Saying that ,argo rigs arnt very old , especially being immersed..... and all that down time for the last 6 months!!