Member Info for Globex

Mara has somewhat shat the bed price action wise it's fair to say, made up for with Clsk and Cifr definitely having a moment, do think Mara now looking value (share count pending). Holding a few miners the way to go as these pumps hard to predict, Cifr for example has been pretty dead this year, before going 70%+ in less than 2 week.

That's right lost it, as in he had it at one time but not any more. Other clangers include his predilection for tobacco stocks. Way past his prime now. Don't take my word for it, compare Fundsmith to simple global tracker - Fidelity Index World for example. The tracker trounced him over 1, 3 and 5 year ranges.

Something bit odd about this.

Shares trading at 1p as recently as Tuesday bid up to 12p today, on the back of a RNS claiming book value went from 6.02p last month to 23.87p this month.

So they miraculously managed to multiply the value by close to 4, largely through third party valuation in Delphos International Ltd. The chair and CEO of that is Bart Turtelboom, who is also CEO of APQ. This third party has apparently seen something that Bart himself missed about a firm he runs.

Haha the method alphabet is classic. Also love the quote they dug up from an investor in its previous incarnation: "Unfortunately the figures were nonsense and the business was infested with litigation and fraud."

Main thing I'm interested in is how long they can keep up the charade. Maybe this attention will accelerate the end game but must admit I thought it would have collapsed under the weight of its own bs way before now. I guess as long as you have enough willing marks happy to fund it, it could stagger on indefinitely.

Love the FT hatchet job on QBT. We've been saying this for ages.

Over a year ago I posted on that board (the one and only time I ventured onto that car crash) to avoid the company because it was a fraud (anyone who genuinely understands bitcoin/mining knows this), I said buy btc instead and thank me later - genuinely true. Someone must have reported the post because it was taken down. If only that person had listened instead 😁

Next results today an example of a well run UK plc delivering value to shareholders. THG is starting to lack credible excuses now, Mad can't blame his home country forever.

It's worth comparing those results to THG's, not just because both discretionary retailers with UK as main market. On presentation alone see how succinct they are with no jargon. Statutory profit is rightfully given major prominence as most important metric of all. With their acquisitions they could easily throw in tons of adjustments but they avoid any qualifiers like adjusted EBITDA. They don't need any excuses, nothing to hide, this level of transparency generates a huge amount of trust and goodwill from market.

Appreciate this is akin to advising the door is bolted after the horse, but anyone still considering investing here recommend doing some basic due diligence on the executive chairman (ceo until 2021). Appears on companies house under various guises including

Anthony FABRIZI

Anthony Bodie FABRIZI

Francisco Anthony Bodie FABRIZI

I won't link to all his profiles, they're easily searchable, but one of the multiple below as an example, showing trail of dissolved companies and insolvencies.

https://find-and-update.company-information.service.gov.uk/officers/UEGDdhknjbaKKL7-X1AzF6qlbM8/appointments

I don't intend to kick holders here while you're already down, I actually feel for anyone who's in this. The lack of tangible progress with the Satoshipay sale and today's grim RNS says it all. For the type of folk easily persuaded by rampers and not really understanding crypto, this could have cost people a lot of money if it wasn't for posters like Slug.

In January they said about Satoshipay that feedback was "encouraging and the Company Is pleased with progress to date".

Now it's "a sales process which may or may not lead to an offer".

Seems a bit bleak and even the updated NAV now looks wildly optimistic. Credit to Slugmum2000 for seeing through the bs here, without those home truths this is just the kind of stock rampers would have otherwise had a field day with.

Terry Smith lost it a little while ago, evidenced by selling Amazon yet hanging on to this

Epic day indeed, Wulf pretty spectacular so well done to holders of that, you know it's a good day across miners when even Riot is up 10%+.

Traf has over £3m in debt and total liabilities of £4.2m. Market cap is meaningless on a stock like that when enterprise value is over £4m. Absolute lie to say it's debt free.

Mstr have been a bit of a gamechanger when it comes to these premiums, but miner market is all over the place no real way to quantify I can see. To be honest even though I hold Cifr I don't necessarily think this latest surge is warranted in favour of others. Could be more mechanical reasons like tiny float exaggerating the wild swings.

I've read the key Corz filings and afaik they don't have that restriction, happy to stand corrected. Large creditors who would have sway on such things were made whole with convertible notes, so if anything they'd stand to benefit with increasing share price that would follow holding btc.

Imo main reason market prizes Cifr more than Wulf despite similar metrics (and even growth plans) is hodl. Holding btc (and intention to hold more) attracts such a premium seems a no-brainer to me.

For similar reasons would like to see Corz announce intention to retain even a fraction of what they mine, convinced it would then shake off lowly rating. But they're in a bit of a catch 22, having to play safe with liquidity after trainwreck 2022.

It's true even 5hit mining companies aren't very good value. Better to buy site with empty buildings but with decent MW. The same buildings with a batch of 2019 era Antminers plugged in calling itself a leading miner suddenly worth 4x the price.

Yes market needs to see an actual statutory profit and won't trust anything else now.

THG hasn't made a statutory profit since at least 2017, might be further back than that - that's as far back as I've gone. EBITDA can be fine but the problem in THG's case is the vast array of adjustments. This type of financial engineering has been going on for years. Thought it would get better after Gallemore was demoted but Damian Sanders just as bad, probably why he was chosen. Moulding's accounting background clearly led him to think he could pull wool over market's eyes, but he's been found out so time to cut the bs and start generating a real profit.

*likelihood* of difficulty going down around halving - should probably clarify that of course if difficulty go down that would be good for miners, but I don't believe it will, significantly or for long.

It's normally only those low effort crypto blogs with AI-type articles that talk about difficulty going down being good for miners, so had discounted market taking it seriously. What changed for me was then Fred on Mara earnings call talking about it, silly really to potentially raise market expectations in this area when history shows it to be meaningless.

Agree, Argo unusual in lack of alternatives so they'll have to keep chugging away regardless. For larger players with options new hardware will quickly fill the void, at worst imo we'll see a slower phase out of older hardware, only once replacements lined up to maintain headline EH.

Even older inefficient machines I believe will carry on for a while, finding a new home in places like middle east or developing world where low energy prices can make up it.

Q1 critical block reward wise for all miners to make the most of it (why it's a shame Mara has been off key here) but I believe market will largely overlook Q1 results as too unrepresentative. Outlook will be key though for setting out expectations post-halving.

By say May we'll have a much clearer picture around ongoing difficulty and if the much talked about machine switch off happens (imo any difficulty decrease won't last long, hope market isn't expecting too much here).