Member Info for JAMESY1980

A low quality article, but positive nonetheless:

https://www.fool.co.uk/2022/07/20/will-argo-blockchain-shares-rally-as-bitcoin-rises-above-18000/

Not sure why Arb is so volatile today given Bitcoin's been relatively stable, but I'd suggest and hope this could be final opportunity below 40p. GLA

Although I said it somewhere around 70p and I was clearly wrong, it feels like the ducks are lining up here just now. Need Argo to continue realising expansion month on month, get the efficiency sorted and hoover up some value machines. With the difficulty dropping a bit and bitcoin begining a recovery there could be a cherry on the cake...

Good to see bitcoin outperforming the wider crypto market today. Back comfortably above 40% of the total crypto MCap.

Hexham. Would it be accurate to say that 'All in costs' include capital expenditure in the sense you suggest and effectively includes speculation. The depreciation is the operating expenditure, but included in the quoted margins? In a theoretical situation that bitcoin settles at $20k for a long period of time capital would likely be significantly curtailed by miners meaning there could be profits, although likely to be relatively modest based on capital employed. Obviously hoping bitcoin takes off and that the miners are seen as visionary for continuing to invest through the tough times.

I like Argo's 3 year depreciation model in a long term sense but they surely must be feeling some pressure to review this in the current market?

As long as they keep hooking up machines and delivering 40% month on month production increases I'll be satisfied. I don't claim to have any kind of crypto mining knowledge but understand the principles. I have little doubt the company will improve efficiency, but in some respects I'm more interested in the production volumes and revenue i.e. bitcoin value, at this point.

Conrad- not sure if it would quite hit ATH but 500 coins per month with Bitcoin at $40k would equate to $240m annual revenue. Doesn't seem unrealistic to me, but I'm not putting a timescale on this for great of upsetting folk. Good luck.

No one wants to pay more than they have to for any stock or sell for any less that the ATH but I'm guessing few of us do that every time and we will all have been sitting on losses at some point. I'd love to have a 29p average rather than 49p, but we all need to evaluate all of our stocks based on where we are today. Anyone investing in anything crypto related should be aware of the volatility of the raw material. In my unprofessional opinion which has clearly not predicted ARB well to date, I still can't see many better opportunities to make significant returns from todays position than ARB, but go in with your eyes open. GLA

Bitcoin volumes were very high for a weekend and looks like we could end the weekend more or less where we started. I don’t often try to rationalise movements but it looks like whales loading to me?

AB. Most of us are here as we are crypto believers and want exposure. Past week will have tested many's’ resolve but I’m holding and averaged down at 33p and 31p this week. Hard to see a route to success without at least a partial crypto recovery, but ARB’s prudent approach has given us the best chance of weathering this. I hope that we plough on with expansion but I’d also hope we have a cost cutting plan in our back pocket. There are always faceless folk on the internet who will enjoy giving you a kick when you are down, but ignore and stay strong. GLA

Hexam - thanks for the clear explanation. One of the few times that it would have been nice to have had bad news...

My only question is around this statement "acquired DPN LLC along with the land held by DPN LLC". What is DPN LLC beyond the Helios land? Any further assets or ongoing function?

I do agree that it has been a succession of bad months output in 2022 and the excuses have not all been convincing, but many positive fundamentals remain with ARGO. MCap to hodl ratio, dilution free funding and proximity to expansion realisation all look good. All of the miners are pretty relaiant on one factor - Bitcoin. I like many are hoping for a spectacular ruturn. Although many have tried to rationalise Bitcoin movement in the past I'm not sure anyone can so it is undoubtedly a gamble. We could wake up to $40k+ bitcoin any day which combined with ARB expansion and hodl appreciation would work for me. Hope to be refrencing those times I bought ARB under 50p as shrewd move and wishing I had bought more. Here's hoping...

Not sure what the interruption fees will be, but I suspect that it is much more about the two way relationship than the financial value of the compensation. If we are paying 3c per kwh I can't see interruption fees running to hundreds of thousands. It is however very important for the wider bitcoin landscape that miners work with energy companys so mining is perceived as interruptable and a useful balancing force for energy grids.

It is disappointing that there has been interruptions in month 1 but the Texas weather and associated energy issues were widely reported suggesting it's not going to be a continual issue. The hope is that the compensation arrangement is sufficient to avoid abuse by the energy providers.

AIG - Whilst it's an interesting perspective, I don't believe the relevant bounce suggests anything about UK liquidity.

Not sure I agree with your HIVE numbers...

FP- BC is correct, the only reason to mention Jack’s investment timeframe was sarcasm which is crass coming from someone claiming to have timed their investment perfectly.

I note your lack of any real time details of your investment which I find odd given the effort you have put into ARB posts through the rocky days.

Hard not to get a bit excited about a mini bitcoin recovery with ARB’s expansion realisation so close so please don’t pee on everyone’s fire. GLA

Yep, won’t be long before your 59p looks like a great average Jack. GLA

No idea if Boatman are shorters or who they are for that matter, but their report on Argo was not a short call and has been proven wrong.

They have produced one report in 2022 and all of their social media links are broken or closed down so I’m calling bull* on their credibility.

Chae - give it up. Boatman report wasn't a short call. It was in no way negative about crypto or mining and actually suggests moving investments to companies which have performed worse. Boatman’s report was also published on a Monday morning after a significant bitcoin drop across the weekend with Fridays closing price. Argo closed at £1.07 on the Monday.

You yourself have had a rager for MARA which has performed significantly worse than ARB.

Also worth pointing out that AIBs calcs showed ARB currently one of the lowest falls from ATH.

Are you Boatman?

Chae - you said that it looked to you like Boatman made a 'Good call' when they had ARB listed as the worst miner to invest in on 6 Dec. You were wrong - stop clutching at straws. The two miners they had in 1st and 2nd place have fallen more than ARB by a significant factor.

I'm as disappointed as any with the ARB movement, but I wanted Crypto exposure and I got it. It is some consolation that I have chosen one of the least bad performing companies and I have been buying all the way down including two purchases today. I believe bitcoin will return and as long as they can weather this period I think that great days are ahead.

6 Dec to today (10 mins ago):

Microstrategy (Boatman's reccommendation) - 69%
Marathon (2nd reccomendation and Chae's fave) - 78.6%
Argo - 57.9%

Chae - Wrong - Boatman in December "We think that investors wanting exposure to bitcoin can find better opportunities than Argo Blockchain elsewhere"

Argo have fallen due to bitcoin movement and have actually outperformed most of the other miners since 6 December - prove me wrong...

AIG - We all know that crypto is high risk/reward and that a crash could lead to any coin or company becoming worthless, but I have no idea where you've plucked your crash SP predictions from. I still have no clue why crypto cynics like you hang here and ARB is the only stock you comment on - do you not want to spend your time looking at something that could make you a few bucks? Argo with an Mcap of less than £40m... complete drivel!