Member Info for Globex

Good tips about not shorting these lads, margin on these miners has to be trading equivalent of crack cocaine.

Mad thing is though for Mara currently about 25% of float short. That and MSTR by far my two biggest crypto stocks but also happen to be amongst most shorted stocks in America. Adds to the excitement imo knowing that if things go our way they'll have to unwind. (On the other hand we could be wrong but let's not go there)

It does all feel like we're still early and not far from base level on the proper miners, only got to zoom out on the charts to see where this could all lead. Last month has been a game changer, as if market suddenly woke up to industry potential. As we get towards autumn it will surely start to dawn on masses we're entering final countdown to halving. As ever it'll be volatile but 2024 looks like next level to me.

Never understand why shorts get such disproportionate attention on these boards. In THG's case total disclosures over 0.5% amount to 1.5% total - so effectively 98%+ are long. It's barely even in the top 50 most shorted stocks on the lse.

Bear in mind that upgrade only amounts to total extra "capacity" of 0.3 EH

Coinbase flying today, funny how quickly the market has brushed off that SEC clampdown, still think there's mileage in it here. With them being mooted custodian for Blackrock's ETF holding this re-rate could also be a positive signal it gets approval.

HH momajid is one of those characters who will argue about absolutely anything while still being wrong. Seem to remember it was him who claimed RevB hadn't given an FY23 trading update... and continued to do so even after being pointed to the the RNS to find it in. Good entertainment anyways.

Interesting development, did say yesterday that with numbers being against Bob if Boo wanted him gone there wouldn't be much he could do about it, so it proves. Being voted out twice would have looked ridiculous, if he goes first at least he can save face.

Hi mate, would you consider keeping your musings in the one thread? Or even some sort of offline diary? It's not necessary to start multiple threads saying similar thing, especially when they're not argo specific, seems like more of a broker customer service issue.

It is noticeable that when a company has an activist shareholder on board usually it's an excellent share price catalyst. Could have happened here too but agree the overly dramatic RNSs haven't helped. When a company is pulling every card it can think of like risk of funding being pulled, admin, suspension, you name it, new investors are naturally going to be wary.

Yeah PIs never swing votes, all the noise on these boards paints a false picture of numbers. It's not looking good for Bob to be honest, he will have to either walk or go cap in hand to Boo. Latter I can't picture happening but who knows, he seems highly volatile and with that there is an element of unpredictability.

Ultimately Boo have the numbers on their side so if Holt is deal breaker for them he can either step aside now or do it the less dignified way and wait until he's voted out again. Agree he may well be red line, after everything that's been said it's hard to imagine him working with Boo, doesn't seem his style and would be a hell of a u-turn. I'm sure Boo are less fussed about remaining RevB board members, with Holt theoretically out the way they will be much more malleable, so perhaps compromise proposal is to retain them.

SDIG seems solid to me. According to one report it has amongst the lowest costs of production https://www.coindesk.com/business/2023/06/07/bitcoin-halving-is-coming-and-only-the-most-efficient-miners-will-survive/

That report alerted me to Ciphr but stupidly never bought that one and it then went on to pump 75%. At the moment miners are having a real moment, it almost feels like you can't go too far wrong in short term, as long as btc stays above $30k. Just jinxed it now!

I think most of us would agree argo is facing some pretty massive cash flow issues but regarding your trade difficulties you're dealing with the secondary market, so that's one thing you can't pin on them. Seems like you might just have a p1ss poor broker.

I seem to recall Galaxy claiming they were mining profitably even early on this year across all their operations. This report laid out some detail on their mining economics https://www.galaxy.com/research/whitepapers/2022-end-of-year-mining-report/

Nothing specific on the Argo deal but impression is they are slick operators, I imagine they got a killer deal at Argo's expense.

More significant than curtailment is electricity costs imo, Texas is so competitive relative to other states it still offsets these shutdowns which everyone now expects. At this stage the curveball would be if one year Texas didn't go through curtailment.

Notably costs wise Texan miners are having a far better year than last year. Cents per KwH for Industrial users in April 23 (latest data) 5.87 vs April 22 6.91. https://www.eia.gov/electricity/monthly/epm_table_grapher.php

Expecting there to be positive read across from DWF offer news too

Https://www.bloomberg.com/news/articles/2023-07-10/inflexion-is-said-in-talks-to-buy-uk-law-firm-dwf-group

Texas curtailment affects Riot, Corz, Cipher etc too, with so many having a base there to a certain extent it's a level playing field. Impact so broad there's even a noticeable network difficulty decrease correlating with heatwaves as miners are switched off.

Holt sadly overplayed his hand with that panicked reference to administration, because if that happened administrators would simply take control and like other shareholders Boohoo would have no more say than current board.

Like when Debenhams failed even though Ashley was a major shareholder he had to join the back of the queue behind creditors, just like everyone else. There was no neat and tidy pre-pack waiting for him just like there wouldn't be for Boohoo

I would try Schwab first, they've recently opened up to UK users will allow you to trade pretty much anything including these pink sheets UK brokers are so scared about.

Alternatively the latest proposals suggest Chapter 11 emergence around October time. Depends if debtors give that a go ahead but once that happens a proper Nasdaq listing again would in theory just be a formality. (I'm also force holding but having made it this far decided to wait it out.)