Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Gullable : "Your not allowed to say this"
thats correct - you should not be allowed to mislead investors that Argo now compared to Argo then is an apples to apples comparison. Getting very tired of people saying the same old "but Argo was x when bitcoin was Y- no fair!".
Clearly they are taking the time to post but not taking the time to actually read this forum that has explained the issue multiple times.
The Mara CEO basically savaged any mining company with
Excessive Debt
No HODL/ powder for investment
Old machines
Did not own their own mining facility
Who does that sound like, without mentioning any names?
Replay of Maras conference call ( you need to put in some basic info)
https://event.webcasts.com/starthere.jsp?ei=1657416&tp_key=bed5f2154d
Everyone interested in miners, including Argo, should listen to it - certainly the Q&A at the end - then maybe the "Why is Argo not going up with bitcoin" questions might stop.
Https://www.youtube.com/watch?v=DnO9V0nhnhI
Another good youtuber that does news daily and follows all the miners. From 18 mins hes talking about Mara results etc.
He highlights that the quarter etc and results were actually really good but questions why the constant dilution when they have $1b in cash and bitcoin...
bitcoin back over $63k - here we go again :-) I wonder where the top will be today?
It seems many are rotating into microstrategy just to take advantage of slightly leveraged bitcoin price play along with potential s&p500 inclusion - it’s a lot less risky as no old machines or halving to worry about.
Let’s be honest it’s up over 80% in the month and over 40% in last 5 days but once that’s overbought then hopefully some will come back to undervalued miners.
Luckily the DAGB blockchain etf I’m in has nearly 9% allocation to micro strategy and same for coinbase (which is also having massive volumes lately which should be good for revenue) so it spreads the risk a bit.
My buying MARA before the results seems to have backfired but medium /long term I still thought the message was good.
I see bitcoin was 63.5k about an hour ago - fantastically quick comeback after yesterday’s liquidation/coinbase crash inspired dump. Another exciting day ahead.
Happy ‘every 4 year’ birthday anyone whose birthday it is today 😂
Https://www.youtube.com/live/EkLrdGaGtuM?si=sqA044ARIxzXtDNV
Good YouTube on why the miners are dropping and bitcoin going up. His evening ETF summaries are well worth subscribing to. Cracking inflows yesterday as you would expect with the volume we had - over $600m net.
To reiterate, and Chaebol quotes a few highlights from the Mara conf call QandA - many of the miners are not going to survive. Bitcoin ripping higher will give many a stay of execution but inevitably post halving many with lower has rate snd/or less efficient machines will die off.
If people are truely interested in doing research for Argo or other miners - listen to it as Argo themselves are not going to give you this info it seems
I just finished listening to the mara conference call. I highly recommend listening to it - certainly to the q and a at the end - the CEO gives some fascinating insights which will for sure impact miners like Argo.
Im hoping the crazy btc etf volumes will lead to a record inflow and commence a massive bitcoin buy spree over night - else could be a bloody day for miners tomorrow if they take Maras lead. Perhaps conf call will improve things. The actual general progress of Mara is very bullish though but they need to turn it into profit. If they cant then good luck lower tier miners…
Now down 6% and looks like here is why: looks like net loss of 2c a share for q4 2023 before accounting changes -i think the street was expecting positive 3c a share. Conference call is at 10pm uk time (in 10 mins)
“Fourth Quarter 2023 Financial Results
Net income improved to $151.8 million, or $0.66 per diluted share, during the three months ended December 31, 2023, from a net loss of $391.6 million, or $(3.13) per diluted share, in the same period last year. Excluding the impact of the newly adopted FASB fair value accounting rules, ASU No. 2023-08, Accounting for and Disclosure of Crypto Assets, which requires the on-going measurement of crypto assets to fair value, net loss would have been approximately $5.0 million, or $(0.02) per diluted share, during the three months ended December 31, 2023.”
Shares were up 4% now down 3% …grrrr…
Thought it was interesing that even under old accounting rules they made 17c a share - far more than expected. Results look good to me but everythung is back to front with miner prices today
“We produced a record 12,852 bitcoin in 2023 and drove a 230% increase in revenue to a record $387.5 million for the fiscal year. With 15,126 bitcoin on our balance sheet at year-end, our bottom line benefitted substantially from the adoption of the new FASB fair value accounting rules. But even without these accounting changes, we would have produced positive net income of approximately $33 million, or $0.17 per diluted share, in 2023.
Https://ir.mara.com/news-events/press-releases/detail/1345/marathon-digital-holdings-reports-fourth-quarter-and-fiscal
Mara results for those interested
My goodness - Blackrocks iBIT has done 72m volume today and still two hours to go...going to smash the btc ETF record today.
Bitcoin dropped from 64k to under 59k = $5k.
Now looking weak, $60k now looking like its not going to hold.
Apprently ETF volume is off the scale today - hopefully net postitive in which case steady buying can resume tomorrow.
A friend just told me that that $5k bitcoin dump in the space of 20 mins caused $1.4b in liquidations.
Still games to be played it seems.
Barnetpeter - they fire-saled most of it because they ran out of money - they are now also $70m in debt.
Im not making this stuff up to upset you - Im telling you they are screwed medium long term - even with the current god candle on the btc chart (almost $63k+ now).
Please read through some of their RNS to see where the money has gone and look at the line items on the recent quarterly to show where the expenses are. They cannot hodl more bitcoins because they need to sell them to pay expenses. With bitcoin as high as it is now will give them 6 weeks of good mining (allowing for difficulty increases) until the halving then they will be screwed again when revenue halves.
Ask yourself why they would need to do a raise if they were profitable - and more to the point what would a raise of $10m actually get them other than keeping the lights on a few more months?
Dont shoot the messenger
For the love of god stop with the
"Argo was £x when bitcoin was $y"
comments - Argo is a totally different company with a totally different share float - to mention only one glaring difference. Its beyond disingenuous.
wow - btc just smashed through 62.5k now and is going scarily parabolic... Im also surprised the miners are not moving with this - except mara but thats only because of the results later else that would probably be down also.
Hopefully they will all play catch up later this week.
HarChris - all the miners except Mara now are negative in the US - its totally confusing to say the least.
Honestly you could not make it up - Argo , Wulf, Cleanspark, Riot all negative on a day like today... I've seen miners jump 20% on far less good news than this. Im sure the reason will come out at some point and it can't just be the Russel being down. Most perplexing
So Argo is negative in the US and under 20p here in the UK with bitcoin pumping past $60k.
Even the US miners are not really reflecting the last few days bitcoin moves, including today. Not sure if people are rotating out of miners due to the halving and into the bitcoin ETF's or Microstrategy or if the miners will suddenly knee jerk upwards at a later date - hope they do as this is certainly not the levels I thought the miners would be with this level of bitcoin.
$60k btc smashed through - lets see if Argo or any miner moves ... this is going a bit too quick now.