Member Info for Hexam

AB - actually the power costs do seem to have dropped a bit this month as the 'mining costs' fell from $15k per BTC mined to about $13.5k which given the increase in difficulty is perhaps a 15% or so drop. Not enough to make a big difference but at least one thing that is heading (slowly) in the right direction (and why their mining margin improved a bit).

"BUT FAILED TO MENTION THE MINING PROFIT ON THE BALANCE SHEET."

To be fair they also didn't dwell on how much money they lost overall this month so could have been worse.

The mining profit means nothing at this level, they need it to be around 4x higher for them to be able to cover the rest of their costs.

"but come on dude stop ramping"

Your tolerance of rampers didn't last very long :-)

HC - I think we sort of agree then at 4-7 months, just that I'm leaning more towards the lower end and you the upper end?

I suspect it may be academic though as I feel something else will happen in the meantime - either getting some extra funding from somewhere perhaps or maybe something that accelerates the issue (possibly with Intel or NYDIG).

"but why is everyone so bothered about it"

Personally I'm not bothered by shameless and over-enthusiastic ramping. It's just the total misrepresentation of facts and outright lies that annoy me a bit - all to sucker in people to buy or hold just like the worst of the de-rampers do in order to try and get people to sell. And both are equally as dangerous so one side is not 'good' and the other 'bad'.

Both groups are as bad as eachother in my view.

Maybe so - it depends how you did your calculation but bottom line is that they are haemorrhaging at least $2m cash every month with no HODL left to speak of. I'd be surprised if they could last 6 months without further funding especially if they still have outstanding financial commitments to intel/epic.

Despite the crazy rampers very best efforts, and some ludricous sp predictions for today, the news last night was neither significant nor unexpected and so the sp remains much where it was. So although it was another welcome, small stepping stone in the process we await much bigger news before we see major movement in the sp one way or the other.

HC - I think you may need to shorten your timescale by a month or three as they've just used $6.7m of the raised cash to pay off the remaining Galaxy Loan.

What exactly was 'excellent' about that RNS? As and to "If we hold out today then I think we can safely say this is its bottom price and will be upwards from here" - well, the mind boggles.

"certain real property located at 4600 Jonesboro Road, Union City, Fulton County, Georgia"

No other properties are listed.

The $1.8bn figure is not accurate. Please stop spreading lies or if you really believe what you say please point out where exactly this $1.8bn appears. Once again, this is the actual text from the sale of certain property docket (774) and no other property is mentioned:

“Purchase Price. At the closing of the transaction described in this Agreement (the “Closing”), Purchaser shall pay to Seller, and Seller shall accept from Purchaser, One Million Eight Hundred Thousand and No/100 Dollars ($1,800,000.00) (the “Purchase Price”), subject to any deductions or additions authorized by this Agreement.”

Docket 774:

https://cases.ra.kroll.com/cineworld/Home-DocketInfo

"£180M! :) you said
....read the whole order signed off."

No - I said $1.8m. Where in the order does it mention anything other than this one property?

The only asset being sold is a property in Georgia for $1.8m. I doubt there will be a bidding war on this and if there is I don't think it will quite reach $1.8bn somehow.

$1.8 MILLION not billion - give me strength.

Docket 774:

“Purchase Price. At the closing of the transaction described in this Agreement (the “Closing”), Purchaser shall pay to Seller, and Seller shall accept from Purchaser, One Million Eight Hundred Thousand and No/100 Dollars ($1,800,000.00) (the “Purchase Price”), subject to any deductions or additions authorized by this Agreement.”

Well, let's see if we get a 275% rise tomorrow then. I'm nailing my colours to the mast and saying we don't. Or a 175% rise. Or a 75% rise. Maybe a 7.5% rise (or fall).

"Why was the sp worthy of it rising 275% in a few hours?"

Because there was a significant piece of news that meant bankruptcy was much less likely. This isn't.

I'd be delighted - my average is 20p - but what planet are you on if you think selling a small piece of property will have a significant impact on sp? Crazy.

Why?????

"The docs are in the TG group, can’t figure out how to post the link here unfortunately but it looks like the sp should get a very nice boost tomorrow you would presume!"

No.