Member Info for krautyankee

EPic is a big question mark still. Maybe pw will knock our socks off with an rns next week...

Plenty of s17 second hand, cheap, immed. Available, and perry can go
go full throttle w with them since they are out of warranty.

Gonna be hard to get helios running in Feb with no rigs.

Chuz - I think your point re. what argo paid for the 20k S19s was also mentioned by PW. Argo was apparently "not allowed" to disclose this, which immediately made everyone suspicious. make no mistake about it - Argo will need at least an additional 150-200 mil. in 2022. Your guess is as good as mine as to which "lever" they will pull. I cannot see them disposing of their canadian sites, unless a "displaced chinese-miner" offers them a ridiculous price.....

ARgobull - I would be extremely disappointed, even scared, if ARgo has not yet decided how they will kit out Helios. All we currently know is that 20k S19s will be delivered between Q2 & the end of Q3......assuming there are no delays....I expect we will find out a lot more in January.

I agree: PW is currently killing it. His CNBC interview on the closing bell the other day was flawless.

chuz - your argument (re. "hash rate arms race") is only a half-truth. mining efficiency, ie. cost of power, play a significant role in determining the metrics. Also the benefits (efficiency) of immersion cooling will impact. "it's not what you make; it's what you keep".

FP - PW clearly stated that Helios should fire up in late March, but also stated that the rig installation will be happening over many months, with completion sometime in late 2022, if I am correctly remembering.

insider -you might add that the company generates no cash, unless it sells BTC......err, ehm, or asks shareholders for more "allowance".

probability....?

the 4500 "leased" rigs were plugged in, sometime in Feb.; so they have been operational for 9-10 months. The purchase price was "around" $ 2300.00 each, in Nov. 2020., financed by celsius over 24 months. Based on the avg. BTC price since Feb., x 430PH, I suspect these machines have already paid for themselves.

good point blubay, I guess if their costs of mining at helios are as "low" as we all hope, it would make sense / (cost) to unplug them and ship them to texas. I have no idea what kind of warranty period mining rigs have.

4500 rigs. these are still locked into the 24-month hosting agreement with core scientific.

the "celsius"rigs, that now belong to argo, will stay at the core scientiific site, making hay. I doubt whether they will be moved to helios, when it powers-up next year.

PW definitely, or at least likely, confirmed the following in the blonity interview: he quickly dodged the question of the current delivery / installation status of the remaining rigs (to get to 1.7 exahash). He checked his status board and mentioned delays / delivery difficulties. This means anyone using an excel-based tracking sheet should assume it will be at least January until the full 1.7 exahash are on line at the core scientific site. We were originally told early October I think, and then mid-Q4. Also, he did NOT confirm that the current cash will be enough to complete the 200mw build-out. He said that is what the funds are for, but did not say that they will suffice. He also confirmed that the ordered 20.000 rigs will start mining in approx. April and will completion by October. NO confirmation of the size of the batches / no way to adjust your spreadsheets wrt total hashrate beginning in April and hashrate ramp-up in Q2 & q3 2022. pretty much up in the air, out of their control, apparently. Basically, still a lot of uncertainty wrt BTC production between now and next October. (he admitted that Q3 revenue was less than expected, due to the "known" s17 problems, but he did not indicate how this would be resolved; ie - timeline: when all of their "already-owned" s17s would be unplugged, sent to Texas, and get hooked-up into the immersion system at Helios.) Although PW did indeed seem relaxed, I am actually slightly more worried, now that I have watched the Blonity piece. Argo labs could be promising. I cannot argue with the poster who stated he will sell his argo holdings now, and then re-buy when this bull-run is over. Argo have & will clearly miss the boat during the current bull run. Argo may indeed be a great play, during the next downturn / BTC winter, but there are definitely MUCH better short-term prospects in the sector.

re. the S17 "solution": from what MARA has said, they have been forced to charter aircraft, to get their rigs into the US (to avoid import bottlenecks due to the huge backlog of ships at the ports of entry). I assume this issue will persist and that Argo will also have to find an alternative solution....which will add significant cost to this "solution"..

"It is way better than having a empty building but doesn't come for free. " good point. The question is: as a shareholder, would prefer that we sell HODL to finance Rigs, or another dilution...? more senior notes..?? I was too near-sighted, assuming that the NDQ IPO would be enough to complete the first 200 mw of Helios. I am not liking these "piece-meal" fundings, that do not address the needs of the company for at least a year. Also, having a significant HODL on the balance sheet might entice another company to buy us out on the cheap, before we ever benefit from Pluto...

although I am glad there is no dilution; what irritates me is, just like the NDQ IPO, is once again there is confusion and/or lack of clear & explicit communications with regards to value, how much the company will receive, etc. 50 mil $, minus fees..? 40 mil $ net..?

not sure if this metric ("active mining power") reflects hosted hashrate (core scientific), as the term "active" sticks out here. I could be stupid though....

spot etf aint happenin any time soon in the US.