Member Info for Globex

I agree with that Dibs, especially when those sales to June were that strong they implied exponential growth with a near doubling of units every month. They would have to be aware it would be reasonable that investors would assume that trajectory continuing, based on the public information available to us. It matters particularly when the same month of the presentation a board member was selling shares.

Encouraging update and first time in a while they've come inline with expectations, should settle some nerves. 20% cost reduction is significant, clearly they're slashing headcount which will stem cash outflow. With all the focus on underperformance of F1 manager and Warhammer titles good to see the back catalogue is still steady chugging away earning revenue.

The theory about a rotation away from miners to the ETFs for more sensible (boring) btc exposure did gain some credibility from price action. If that's what we've seen I'm not worried either way, as we'll soon be at stage (if not already) where anyone that wanted to reposition will have done so. Can't go on forever.

I still the ETFs as building on btc strength in a way that naturally feeds back to the decent miners, even if market being weird right now. After that even more odd July-Oct period last year this is a mere speedbump ;)

@Pokerchips I'm definitely dismissing the Sorrel musings in the Times, if you resort to calling people who do so nuts you're about as cliched as his columns. His take on geopolitics is banal at best and offers no insight, all he's doing is the equivalent of summarising what he's read in the broadsheets and discussed at dinner parties that week.

Since when was an adman an expert on world affairs? It looks all the more ridiculous in context of how badly wrongfooted on strategy he's been here since 2022, while missing guidance countless times. Anyone who bought into this has taken a roasting. Well past time for him to show some humility.

He was dishing out more wisdom in Times today (paywall), very good at presenting himself as a grandfatherly expert on everything including now geopolitics. To add to his many other skills seems this week he's also Henry Kissinger.

Potentially of more interest here in same column he veers from solving the world's problems to upcoming google chrome update and 3rd party cookie blocking, specifically knock on impact of advertisers' ability to target. Probably warming up his S4 excuses.

https://www.thetimes.co.uk/article/new-year-new-challenges-in-2024-were-set-for-much-of-the-same-url-enterprise-network-b7f79wr8k

Revenue wise they're doing pretty well considering, it's promising to see the certainty around revenue this year with $47m already pre-booked. Profit is the bigger achilles heal imo. Using the cloak and mirrors of adjusted EBITDA qualifiers rather than transparent statutory numbers makes it difficult to for market to gauge true picture.

Moulding has a lot to answer for planting the seed that leads to ridiculous posts like this.

Miner decoupling definitely our wildcard now but underlying signals seem as bullish as ever. Talk of Blackrock swallowing up 11.5k btc in 2 days, seems latest plot twist is Larry Fink becoming the new Michael Saylor. A lot of that might be due to initial hype but such a supply/demand imbalance can only continue to play out one way.

That's just more Moulding doublespeak. They don't even lead in protein, Glanbia have been operating DTC for a while now and blow THG out of the water.

The funniest part is the week the establishment players entered this world with all their regulatory properness and bottomless pits of money, it was all a bit chaotic. This week the crypto anarchists looked positively sensible by comparison. Just goes to show not matter how important you are btc is the beast that can't be tamed.

Argo's biggest predicament imo is some upcoming dates of interest.

In December the Helios hosting deal comes to an end, if Galaxy then decide they'd like their site back for themselves what's the plan B? The other Canadian sites are only 20 MW total. In the meantime they have asset backed debt repayments to make for the ~$30m loans as part of that deal. A bit further on if they get that far in 2026 there's bond maturity day when they'll need to stump up $40m.

I mentioned last year once they went over 5% that I believed their target was 10%+, looks like it's now playing out that way. That threshold will be put them in position to potentially appoint nominee to board and ultimately call more shots. Where it gets interesting is they're far from alone in building a position here.

Funny how the SEC put out that statement saying we're neutral on all assets while going on to say bitcoin is used for all the bad things in the world. The beauty of the ETFs is regardless how reluctant they were to rubber stamp them, there's no putting that beast back in the cage now.

For all their risk warnings bigger picture we only need tiny percentages of the world's allocation to equities to flow towards bitcoin to blow the roof of this space. Even the most risk averse fund managers can stomach that.

Yesterday was a weird one, as Chaebol says some strange happenings around the news coupled with action on the nameless miner, swing traders must have thought it was Christmas.

Fee wise in the longer term do see these juggernaut ETFs absorbing a huge amount of capital, then with them having to buy corresponding btc this should bump the number of transactions and increase demand on network, so increasing fees feeding back to miners over time.

Me too mate, 25% intraday swings are something else, after all the snakes that last year brought it's surely ladder time now.

No-one in this thread made a comment on the bitcoin price action so it's not clear who you've addressed that to. In general you'll find the most people who have been on this board long enough are bullish about bitcoin regardless of their opinion on Argo. As far as *today* goes for miners it wasn't an ideal start with them underperforming across the board.

It's not been an ideal start to the ETF era in miner world but we live to fight another day. ETF noise will dissipate now the cat's out of the bag all that matters to me is that quietly they'll be accumulating in the background. And we can look forward to the next hype event (followed by inevitable disappointment) 3 short months away.

Such a bizarre set of replies. You dropped a right clanger claiming he wouldn't be required to disclose shareholding if he wasn't on the board, it's hard take anything you say seriously after that.

Instead of getting wound up because your mistake was pointed out you, it would have been easier to be honest and admit you learned something today. People will respect a bit of humility much more than that huffing and puffing long winded wall of text.

Bozi, wrong, a TR1 would still be required regardless of him being on the board due to the size of his holding.

More importantly why are people following up a pretty logical view about him - essentially a tax haven based board part timer who doesn't matter in grand scheme - and not the post lower down this thread by stargate containing actual misinformation about the company's financial performance?

Surprised they're only rebalancing once per day, I imagined they'd algorithmically trade more frequently to mirror spot. Can see why they're doing the old fashioned way, less admin and could also be SEC nudged them for a slower solution like this to dampen down the volatility - if so that failed pretty spectacularly today.