Member Info for Globex

Better call 999 then mate

The flash crash down to $25k looked like a cascade of longs force unwinding. No news we've had significant enough to tally up with the fall imo, can't see the eth futures being related when eth also dropped almost as much as btc, and we've had the btc equivalent derivative already for a while. Seems more technical, with a bit of broader bearish market sentiment thrown in, traders taking advantage of thin summer volume to create these dramatic movements.

This youtube algorithm has a lot to answer for, one minute you're watching a video about crypto, the next thing you know weeks have passed and you believe Craig Wright is Satoshi and that we had a reptilian monarch

Since Ethereum moved to proof-of-stake Argo has zero mileage there; giving up on BTC would render all their hardware (even more) worthless. It would be commercial suicide. Arguably it's slowly doing that anyway, before anyone says, suicide faster I mean.

"It must actually be quite a headache for the derampers to think of anything remotely believable"

You can't be serious claiming deramping on a FTSE100 company? Nothing anyone says on these forums is having any impact whatsoever on the share price of company with a £13.5b market cap. Some people are bearish about certain companies, others are bullish, that's market, no point getting worked up about it.

Conspiracies about market manipulation or MMs controlling things in nefarious ways are rife across these boards, all a load of nonsense of course but there's one way in which they're useful: as a handy signal you can totally ignore the person posting them.

What makes me laugh about thee complaints about how a secretive cabal is somehow controlling the share price, they are somehow only ever manipulating the price down funnily enough, never up?

For all the long term questionability I would say this about miners though, during a bull surge it honestly feels like cheating to be able to trade something with such volatility that feels like a proxy leveraged bet on bitcoin, within a tax-free wrapper!

Yeah the sustainability of these miners long term is very questionable, in the long term pure btc the only true play in crypto imo. In the meantime looks like we're all waiting for the greater fool.

One thing all North American miners still at a competitive level have going for them is them is it's hard to see any outliers or new listed entrants coming for them now. US equity markets no longer friendly enough to allow new players to get a foothold after all the drama late last year.

Yes strange one. There was this https://www.holdthefrontpage.co.uk/2023/news/senior-editorial-director-quits-publisher-after-17-years/ Not deemed material enough for an RNS but thinking about it makes sense these editors at the coal face are more significant than the boardroom movements we do get to hear about.

Or holding both? Diversifying these miners the way to go imo, also for me helps knowing will have broad-ish coverage just in case one 'does an argo'

@CB agree the fully funded 16 EH definitely impressive as I said, and today's surge hopefully start of proper re-rate. Only caveat for taking to leap to dilution is that they do still have that ability, they could still technically pretty much double shares in issue on balance sheet. Dilution so universal with miners not a biggie for me either way, as long as they deliver on promise.

What I do like is they've potentially played a blinder with timing, getting the new rigs up to speed will presumably take us into final quarter, by which time we're motoring towards the bull (in theory) - but still with a bit of time in hand before halving cut off, enabling them to materially ramp up btc holdings.

Clsk looking very perky indeed. Promise of fully funded 16 EH is impressive if they can pull that off, whether they truly cut back on dilution now remains to be seen but looks promising. Market also seems to loves pivot to hodl.

And anyway forks are an odd criticism in relation to supply, when they happen either an altcoin is created which has no bearing on the supply of bitcoin itself, or it's for some technical reason like a bug fix (rare). Supply is hard capped as a fundamental part of the protocol, that can't be altered and has been the case since day one.

Mawson should put out a ramping press release claiming to be nuclear powered, believe they could technically make that claim with the Pennsylvania grid? Whether strictly true or not worked for Wulf!

I thought they weren't too bad, the year on year comparison shows a heck of a lot of progress both with mining numbers and moving towards break even. Depreciation a bit of a killer with these miners so arguably cashflow better metric.

Not mining profitably is totally the big issue here though, seems all still being kept above water by shareholders alone. Sense developing world competition if the real elephant in the room with this industry, especially with US costs being so high. Likes of Russia, China even possibly North Korea with much cheaper electricity I'm sure are contributing to difficulty increases and will only continue to catch up.

"Surly this years is partly priced in already, everyone knew it was just a updated 22"

It was priced as a full price release, nobody in their right mind would pay £45-55 for an update only. You've only got to read the reviews to see how users expected much more than an update of last year's title - a number of them literally say that. And self evidently it wasn't priced in as SP has dropped 20% since release.

These comparisons always make Riot look so expensive, and CIFR and CLSK so cheap. The market seems to place a huge premium on hodl, so absolute no brainer for them to start building stocks. Both making noises about pivoting to retaining btc, they don't have a great deal of time now until the halving but if they're able to hang onto as much btc as possible now good potential catalyst.

One thing I don't like with these US stocks doing ATMs is having to wait until quarterlies for updated share count, unless they have some other significant filing in the period where it's tagged in. Not ideal to be somewhat batting in the dark with market cap calcs, especially in an industry when goal posts moving so fast. This is one area where LSE system better.

I've gone for a basket, approx ratios Mara 50%, Hut8 30% then remainder quite equally split between CLSK, CIFR & Hive.

FWIW Mara and Hut I've held longest so by largest % largely through growth, but even if starting out today I'd go for similar allocation. Mara dominates, Hut8 great for btc holding/bit of a sleeper.

CIFR & CLSK I see as counterbalance to Hut as very little btc but expanding EH. Hive newest but, bit of a wildcard but the good thing with these smaller miners is they tend to have inexplicable pumps during the bull.

(I hold Corz too but skipped above so not really available to buy from usual channels and bankrupt so not for feint hearted.) Might have been easier to list the ones I don't hold!