Member Info for krautyankee

was that a pw fauxpas in the video, earlier. he said that argo would be getting 25% of the BTC mined.....I thought it was 25% of the net profits?? huge goddamn difference. I think pw needs a drink!

One would hope they "kitchen-sinked" everything in the H1 report. I guess the August numbers will give us an inkling......
we need to band together as a group and make sure PW is booted out if the "things they can control" do not significantly improve by years-end.

"Can we just give up on 2 cents". not really. The SP might be 2 cents, 6 months from now.....

can't believe they lead their announcement with: "Financial highlights include:
-Total number of BTC mined was 939, a 6% increase over June 2021
-Total number of BTC held was 1,953, a 54% increase from June 2021"
Now, what is "wrong" with this statement? 6% increase in BTC mined..."well, uh, yeah, we had twice the hashrate, but still we tried our best". How can a CEO allow his company to release this garbage? Their financial highlights are insulting.

thanks for all of your sensible and balanced input hexam. you are (were) definitely one of the adults in the room here.

PW has stated countless times that Argo are "OG", have been thru a BTC winter before and are therefore uniquely positioned to take advantage of this knowledge. The numbers don't lie; This kind of BS has made many of us look like fools.

I wish they would put as much effort into meeting their communicated operational targets as they do with producing prime-time videos.

any one know if ePic has the capacity to deliver significant numbers of "Intel" rigs? Or will they sub-contract it out? I am a bit skeptical about this.

excellent post Hex. all good bullet points, which we should expect to be addressed, to some extent, in the H1 RNS. Personally, I am starting to think that PW is not the right CEO. I am not convinced that he can kick every member of the exec team in the arse to get them to perform / meet operational goals. Wen .02 cent power.....?

if argo release there H1 numbers and they are (most likely) sh*tty, then we could easily drop again. H1 = pretty much a shambles, IMO. We'll see, soon. wen .02 cent power???????????????????

shares outstanding (as of 01 July) (in Mil.):
mara - 106
riot - 135
Bitfarms - 203
Hut8 - 174
core scientific - 325
clean spark - 412
Argo - 477

wen 02 cent power??

Jamesy - many SH have have asked PW (remember the PW question & answer videos), over the past 2 years, why they do not sell some of their HODL. PW always said that the company believes in BTC long-term, and that the company "are not traders". PW needs to show some shame, and admit this was wrong. I forget which poster said it, but basically PW was gambling with investor money, waiting to hit a royal flush.

how can they justify paying a crew to maintain the canadian site, if it is only mining at about 50% capacity after the rig "retirements"? What is the plan to acquire assets, so that the available power at the canadian site is being efficiently used / exploited?

so, after retiring the s17s, are the canadian sites mining anything at all, except for a few ZEC?

Hexam: " It's not clear to me if/when ARB join the scheme that it will be comparable to this but hopefully it is close as then it really won't matter too much how hot the summers are in Texas :-)" I cannot remember that PW ever mentioned a 100MW threshhold to "qualify" for the ercot incentive program. I remember him constantly hyping "some of the cheapest power" and how argo would be rewarded for shutting down........and then, the "fine print" magically appeared in late June. What was also very upsetting to me, was how PW smugly stated (after the terrible Q1 numbers) "We expected Q1 to be a challenge" (like it was no surprise). These confirmations, after-the-fact, whether it's .02 cent power or the 100MW threshhold has made me increasingly skeptical of any Argo statements. My days of hero-worshipping PW are long gone. (Argo invented the "monthly BTC mining update" back in the day, but their peers now release their numbers a day or two earlier than Argo, which indicates to me that these "peers" have a better grasp of their numbers / operations / use a better reporting system). Argo is, deservedly, not going to qualify for the champions league this year.

let's hope terrapool is history. it was likely the main reason that the BTC production numbers have been so sh*tty as of late.

I guess late next week then, when they announce the July production numbers.

can anyone remember/confirm if PW mentioned when the prelim Q2 numbers would be released? I seem to recall that this was mentioned several weeks ago. thx.

That investor presentation confirming .2 cents for power needs a close shave with Occam's razor. ARB needs a chairman of the BoD to hold PW feet to the fire, when necessary. It seems Argo is having a lot of problems "controlling their own destiny", as PW likes to say. Let's hope Helios does not evolve into a shambles. Jury still out.