Member Info for JAMESY1980

Not sure SP has been ‘played’ as there has been, now known, significant selling pressure on top of some negative news. I agree that it seems undervalued even as a punt given liquidity, but would question your Cineworld example looking at their recent trajectory.

Hopeful of a strong finish to the week and some positive news over the weekend would be nice. A sniff of Ashley and I’m out.

What is JOUL free float?

I was expecting more of a raction one way or the other this morning.

Justbeing. My understanding is that revenue isn’t the real issue here, rather costs and therefore margins. I think the brand and quality are strong. Surely they can find a way to turn £100m+ revenue into a business?

It is most unlikely Joules will have an MCap of £11m if you come back in a year. It will either be worth much more or nowt. The million dollar question for me is why Next dropped interest - I doubt it was anything to do with brand fit or merchandise quality as Joules clobber is great. Is it simply difference of opinion over strategy vision or have they found something in their dilligence? Time will tell, but I'm up for the bumpy ride...

Taken a punt. I like the brand and I buy into the market tending to overreact to bad news. It is still the proverbial falling sword at the minute so a risky one...

Hexam - hope you are right, but I would have thought that would have been referred to as 25% of gross profit? I remember the good old days (Last year!) when margin was well into the 80's. Bitcoin would have to go some to get us back there though.

AB - Thanks, I assume there should be scale benefits to increasing our pool, given the alternative appears to have required waiting for bitcoin to recover to open funding options?

Overall I'd rather we hadn't been forced into hosting, but the implication I like is that a well funded party have faith in both Argo and Bitcoin to make the required investment in machines. Got to be a good sign?

Hexam "If the hosting was in place now the contribution wouldn’t make much of a dent in the losses - if at all."

I understand your point and don't disagree, but if it were in place we would be losing less than we would if we had the same capacity without hosting. Details around the hosting were minimal, but I think it stated that it was 25% of net profits. Whilst this is clearly a lower number than gross, it suggests that the hosting arrangement will include proportional contribution to overheads from the hostee.

Is it reasonable to assume that the hosted machines will be connected to the same mining pool as ARB?

Chopsing. Bitcoin sentiment returning, Couple of significant EH/s expansion months ahead, hosting agreement represents a new low risk income stream, electricity spot price will reduce significantly, power contract could materialise.

When many of us bought into Argo originally, I’m sure we thought we would be in a better place by now, but I believe that Argo are reacting to external headwinds and are well placed if/when Bitcoin really returns… Good luck.

Jabberba, or should I call you Mr Modest? Hexam is one of the most knowledgeable posters on this board. Any genuine views should be welcomed whether they align with your own views or not. Glad you are bullish on bitcoin and mining, but the last thing we need need is any more sensitive or highly strung posters. Chill and watch your investment grow among friends…

I am pleasantly surprised with the movement today given my reading of the RNS. With a bit more time for it all to sink in I can only assume that the hosting agreement is the driver. Whilst it is a little disappointing to be effectively renting out potential capacity, it does suggest that a third party have faith that we’ll secure a competitive power agreement. I assume PW will be keen to build next shed and see this as the best way to keep expansion progressing. Glad I was wrong as we are one of the biggest mining risers today and are pushing 42p on Nasdaq. Have a good weekend all.

Not a good update at all. 235 coins and 20% margin... Hosting arrangement is interesting but some further information on this would have been nice. I still see many headwinds as temporary so unlikely to downsize but it looks like we need Bitcoin to do more for us.

Sorry Chaebol, I can't see your posts but I assume the thread title is sarcastic?

Thank you bitcoin - your turn Argo....

Disapointed that August update appears to be late as Argo are already one of the slowest to report.

So a very crude comparison of Riot July to Aug:
14% increase in hash
18% increase in production
69% reduction in curtailment payments.

I believe that the reduction in curtailment compensation won't necessarily align with a proportionate reduction in the downtime as I believe they are compensated at the market rate at the time and we know that demand in July was higher, but it bodes well for Argo nonetheless. If we could pin down a power contract half as good as Riots I'll be happy.

Rookie - I believe that AB’s ‘figure’ comment was related to production rather than curtailment. 250 would be ok, but hoping for a little more.

51%? Hope you are going to sort Bitcoin price out when you become CEO Mooh...

I can't imagine that utilities are a significant part of retail costs, but any increase in costs in the current climate will be unhelpful.

Joules is looking very tempting with an MCap of little over £20m. I like the brand and rate the quality. I expect a general move towards quality in the clothing market as the environmental lobby call out fast fashion, but we would need to survive the expected fall in disposable incomes over the incoming 18 months or so.

Any views on the urgency of the liquidity issues if the Next deal does not materialise?

Agreed -nice rise today - seems that a lot of the rise was prior to US open but ARBK is up at a similar level. Can't find any news or comms and seems to be at odds with bitcoin and the other miners so hope it is either a correction or an inside leak?

Where have all the haters gone? No one to tell us this is a false dawn? It's all a bit sensible and pleasant today... GLA

I've never seen Peter Wall and Chaebol in the same room... Just saying...

Must be great to wake up in the morning, see Bitcoin is down and know your all day slot on LSE is coming... living the dream! :)

I just see reems of green boxes and know they are back, I say they, but suspect most are alter-egos of a single entity. I'm happy to debate with Argo or crypto detractors, but don't have the inclination to listen to drivel with no substance.

Chopsing. With all due respect, your 10c is based on nothing other than apparent frustration. I know its always easy with hindsight, but we should have been more prepared for the 2c being at risk in the current energy climate. Argo’s statement that it is normal to secure a contract following energisation seems credible to me, I’ve not sorted a utility bill before moving into a property before and it is unlikely energy providers are going to take commercial projections for commissioning dates and loads before commissioning. Again this is poor/unfortunate timing from Argo but I see no reason to assume their claim that with historic summer peaks in the past and an expectation that energy futures will settle that the number should end up 500% up. 10c would be close to domestic rates and is laughable for a 24/7 load of our magnitude with interruptible flexibility. I’m still planning to up my stake on any further dips here.

I also share the disappointment with electricity contract, but again its down to external forces. Hottest July on record in Texas with soaring world energy prices due to Ukraine war. It’s not a company’s job to warn us of all the potential risks to their plans and I think that 2c was achievable at the time stated.

When the dust settles I feel we will secure a competitive contract as I believe Ercot will value the significant load and flexibility offered, but a long term 2c /kwh does seem optimistic now.