Member Info for HarChris

Hopefully next week, he can’t before interim results.

No Muscles I’d argue it’s quite different this time… miners got caught up in the ‘institutions are buying, this cycle is different’ narrative and then got hit with a double whammy when electricity costs increased so dramatically.

It’s little to do with which management team have been the most strategically nimble or tactical, if anything it’s simply whoever expanded the most aggressively is facing the biggest existential threats.

What will happen if this Bitcoin bear market extends is a return to a smaller pool of miners dominating the space, maybe three or four having gone to the ground and their assets being shared around the rest, initially staying offline (reduced difficulty) but coming back online in the next bill market.

In fact if any of the miners had really committed to dilution during the bull market they’d be out and out the market leader now and yet we had PW promising no more dilution!

This price action is typical of what happens when you signpost news for two weeks time - the first week it dumps as there’s very little chance of being caught out by a surprise rns and the second it steadily rises into the news.

I have to think DA must have enough initiative, must have enough sense, must have enough awareness to know that what’s gone before is simply not good enough. He can’t, surely, call on an investor meeting with nothing new to say and without a real intention to show considerably more than he has previously.

They’ll also move up fast if things turn around seeing as they are mining around 1250 coins a month currently, dwarfing everyone else and as seen by the move a little while ago from a low of 1.4 to 3.4 in a very short space of time.

Probably right at the top when it comes to very high risk, high reward.

AB if this bear market continues Corz is one of the first to find themselves in trouble I think. Sure they got cash but that’s only because they’ve had to dump huge amounts of their HODL, 7,202 bitcoin for roughly $167 million in June alone.

They’ve also entered into a long term placing, $100m of stock to sell over the next two years I think… I know that’s not something you’re a fan of.

I think it’s fair to say that we aren’t building up inventory for a specific reason, it’s been a difficult year in regards to logistics and supply chain, especially with the floods at the Durban port but equally it’s no big deal either.

Hopefully this year was a one off and we’ll be back selling more than we produce in 2023, but if not, as long as the demand is there for electrolyte we’ll be needing ~950mtV at 200MW all the way to ~3800mtV at 800MW.

Looked like it was shaping up to be one of those nonsensical reactions to what is a very big hike, just because it was well signposted.

And yes the tone of the commentary will dictate which direction this goes next.

Not quite as extreme as that currently. Net assets at last count (will be updated next Thursday) were £142m and market cap is £60m so looking at about 42%.

140% rise needed to get to that net asset figure.

There are a few on here that arguably deserve a rough time for being absolutely clueless and offering nothing of substance over an extended period but ArgoBull isn't one of them, he's just trying to push back against a sea of contrarianism and negativity.

Thanks, just trying to see how much impact increased miner selling is having / going to have in the coming months.

By my estimations we are probably seeing about 600 coins dumped onto the market daily or 18000 a month. Got to wonder if the bottom will be found following miner capitulation further down the line.

CoinDesk showing 39000BTC volume over the past 24 hours, sounds more reasonable. Is anyone got a link to the daily volume over the past month or so?

Does anyone have any reliable data on how many bitcoin are traded daily, on average? I'm seeing a figure of 400,000 bandied about but that feels way, way too high to me?

That article paints a rather ugly picture of the sector in general... lifestyle companies come to mind.

301 bitcoins added to the MSTR balance sheet, an increase of ~0.25%.

Learn from Michael’s mistakes and make sure you don’t go all in and blow your load too soon!

I did accept my losses earlier in the year, quite substantial ones at that.

I also chose to buy back in later in the year as I prefer to have my money in a stock with such a strong balance sheet in such difficult times. Not only do I see M&A happening in q4 and into 2023 I think we’ll be likely getting bargains as competitors struggle to keep afloat in this market.

Whilst it's currently hard to imagine a swift turnaround in the near term in the medium term the cash will be put to use and business activity will increase significantly. Each of us will have a choice whether to stick or twist at that point but to suggest that £1.50 is some mythical level that will never be seen again, when it equates to a market cap of just £106m and current cash position is £99m is just patently false.

Whilst I know there are no guarantees and personally I find it hard to imagine these shares being back at the sort of £4 level perhaps it's best if we are all left to our own devices instead of attempting to dish out financial advice?

If the rand stays this weak through 2023 it's more than likely we'll be seeing breakeven closer to $28-29/kg rather than $31/kg - it's hard to see anything but a profitable year at the moment.

It's Part 5 and then paragraph 5 onwards

This should take you there:

https://content-medirect.azureedge.net/getdocument.aspx?id=150332812