Peter Wall interview22 Nov 2021 10:59
Well, I have to admit that I enjoyed that.
Argo has got to the stage where they no longer have report every buy and sell of coins, so my deduction is that their trading coins explains the extra 125btc from last month. Very good! Let’s see what they can manage in the November figures. My guess, and that’s all it is, is that they are getting trading ideas from Pluto Digital, who are funding DeFi and NFT project from early seed rounds, which can be hugely lucrative. I have a tenant who trades crypto full time. His biggest ever return was $24k from a $300 investment., but I’m sure PW and Argolabs will be shown very early deals. He was very keen to talk about Argolabs. I can see Argolabs working closely with Pluto and co-investing with them.
Also Pluto Digital. What else do we know about them? Very active in DeFi and NFT, but decided not to IPO as planned. Listening to PW’s comments about the added hoops to list on Nasdaq, because ARB was already on LSE, plus comments on difficulties having two regulators and two time zones, leads me to speculate that Pluto will go straight to Nasdaq, bypassing London altogether. 2022 Q1 is my “guess”. Talk of 30-40p IPO is premature, but a few of us were offered 10p by an institution in June. No- one sold.
Other great news is the expanding S17 recycle program and the prospects of buying them cheap on the second hand market. Those are being readied for immersion operation, which gets round the problem of an inadequate heat sink. Overclocking those at Texas will be the mother of all ROI’s.
I take the point about less efficient miners borrowing a lot more and putting in orders for thousands of miners for delivery 6-9 months down the road and relying on brute force to increase production, but there are higher risks involved in higher borrowing and longer leads times, so I value PW’s smart investments in a mixture of new machines, second hand machines from the spot market, and recycled S17s.
Efficiency may not be critical in terms of profit generation, so borrowing or diluting to buy the latest miners for top dollar, running them in an air-cooled facility with more expensive power, will definitely make a load of profit, BUT investors, especially institutional investors, will be increasingly influenced by ESG considerations, so they may well prefer to invest in a leaner, more climate friendly miner. ARB seems to be at the forefront of innovation AND climate consciousness, so I think it will be getting the majority of ESG money.
Just my opinions.
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