Member Info for LimpingAlong

“They have been knackered for the last 6 months . If your still in any doubt , look at the terrible mined numbers”

I must’ve missed the “knackered machine” update or RNS! Lol

“Is there any finance secured on the Helios building Hexam?”

Not there is not.
There are small mortgages on the Canadian properties.

Krautyankee, Looks like direct quotes and info from the post AGM Q&A to me? Have a watch for yourself. Please!

Argo Blockchain June ‘22

- 90% of Bitmain machines paid for
- 95% of Helios paid for
- Well positioned for Bear market conditions, quote “Balance sheet strong enough to withstand lower prices, and potentially take advantage of any increase in market share, and any downturn in the costs of machines”
- quote re upcoming expenditure, “we don’t have a ton of huge costs coming up the vast majority of our Bitmain machines and infrastructure is paid for. Intel costs coming up but flexibility available on that, we can lean in or out depending on market conditions.”
- quote re opportunities surrounding distressed assets in the market, “I don’t think it’s a secret there are miners that have over committed to orders and have put down deposits but don’t have anywhere to put those machines or don’t have the capital to pay for those machines.”
- Debt —— 1) Btc backed Galaxy loan (more details of strategy/hedging at the half yearly). 2) Nydig infrastructure loan. 3) Nydig machine loan (flexible). 4) small mortgages on Canadian properties.
- Market leading in ESG
- Tier A miner
- Low power costs in Quebec and Texas
- One of 4 company’s working with Intel. Epic building ARB bespoke miners incorporating the Intel chip.
- quote “We played it smart in 2021, we didn’t over commit.”
- Hashrate directed at TerraPool under constant review. Other Pools looked at as well.

The only thing I’d add is that we should expect to see news on machines installed, updated hashrate, and of course btc mined in the June op update.

Onwards and upwards!!

Hilarious! SpAGbOl Jimmy losing his mind as we watch. Honestly I think he’s lost track of his own bul**hit.
Trying to throw mud in every which way, desperately chucking out nonsense statements, back to name calling (his default position as we know), and still trying to convince people he’s some kind of genius trader living in the Far East. I’m sure people study people like him! Lmfao.

sPagBol…what date did ARB leave the pool, and who has busted machines? Just more of your bol**cks.
Last week I saw you were talking s**t about Nexo.
What’s next week? Btw it’s 0347 in Thailand, imagine if you actually did live there, you’d officially be a sad motherf**ker being on here at that time.

“Since the day Argo left this pool, the eh equivalents have allegedly been bang on, this is obviously a mining problem from argo, could it be these old busted machines ?….”

So just plain lies from you now SpAgBOl Jimmy, you become more of a laughing stock with each passing day. Lol

I don’t think we’ll get any of those this month Hexam, maybe the TerraPool news, but I’d be pleasantly surprised if there was more.
I’m expecting mid-hundred for the mining numbers and an update on machines installed. Anything more than that will be bonus-ville for me.

Hexam, I think pinning hopes on June’s update for some sort of comfort maybe slightly “wishful thinking” as I can’t see the current climate being conducive to that, but you never know.
You have mentioned that you don’t feel there is much danger to ARB right now, other then operational adjustments/curtailments, as/if they are necessary, I agree with you there as well.
Focus has quite rightly been on Helios and will continue to be so until it’s up and running as they’d like it, it’ll be interesting to see how many machines they have installed in the next update.
I hold ARB and BTC in crypto and that’s it, I wouldn’t touch any other miner with anyone else’s barge pole right now, but then I’m long here so would say that.
Most if not all miners have/had debt linked to their hodl/rigs, ARB’s hodl is lower than others but it’s moot unless you know exactly how much of it they’ll need to use above the monthly mined amount, and the current cash flow requirements will be clearer with updated numbers.
I agree that you need to keep an eye on what’s in front of you, however investing long term does generally mean you will experience up and down cycles and the choice whether to sell up and run (loss or not) rather than stick and buy depends on your attitude to risk, your level of investment and of course confidence in the long term in the Company you invested in. I’m confident here short and long.

“Best thing though is simply for BTC to rocket and then we CAN just focus on future plans.”

Amen brother, that we can agree on, can’t see it happening just yet though, all in good time.

FP, you are just arguing for arguments sake now.

ARB chose to build a brand new, 100% immersion, state of the art facility because that is where they saw the future of the Company. They were still mining btc all the while and as of the last update still had a decent hodl for the size of the operation.
Had they chosen not to future proof the company and just try to mine as much coin as possible on an incredibly short term view, then I’m sure that’s what they would’ve done.
Look at the SPs now, none of them are high, all of them have fallen massively, it’ll come down to who is equipped to handle this and for how long. As I’ve mentioned, BITF sold half their hodl in a oner, and MARA are barely mining right now as the house fell down.
I dare say if you didn’t see any value in how ARB have chosen to set themselves up, then you wouldn’t be here.

Which is exactly what they are set up for Hexam. I don’t understand as an investor yourself, what you would’ve liked to have seen? A Company that doesn’t try to influence their future? Just mine a load of coin now and then hope for the best during the down cycle? How is that even investable long term? BITF just smoked half there Hodl in one go, MARA’s facility got blown down in a puff of wind. Jam today, forget tomorrow does not work long term.

No I don’t think I did Hexam, you referenced BITF and ARBK in comparison but it’s not comparing apples with apples. ARB have set themselves up with a brand new facility, 100% immersion, comparatively cheap to run with room to expand, and have a hodl that’s only 2/3rds of what BITF have left.
Hodl’s will disappear in the blink of an eye for some of the high energy cost, bloated miners.

RookieInvestor, and how is market responding to these class acts? Operating out of coal mines and teepees is not an attractive investment I’m afraid. They are set up for Jam today, not too endure a lengthy bear market.

“No, I agree with them. Less HODL means lower assets means more risk (especially when many of those coins are backing a loan as BITF have just found out) - all else being equal.”

How is all else equal between these miners Hexam?

FP, massive, modern, state of the art, immersion only, cheap green energy infrastructure that has room to grow with the Company well into the future.
Or they could’ve bought replacement machines to give them 100 (or so) more btc worth circa $2M today.
I think they made the right call.

Hexam, I don’t think I said ARB wouldn’t exhaust their hodl if needed, quite plainly if they needed to they would. Some of the less genuine sorts on here suggest that a lower hodl somehow puts ARB at greater risk, which as a numbers guy I’m sure you laugh at too when you look at the market now and consider the whole picture. BITF sold half of theirs already, MARA….well god knows what’s gonna happen there, CORZ desperately needs this to turn fast etc…
People need to take a wider view, but then that doesn’t suit their narrative does it?
ARB operates out of a state of the art, modern, 100% immersion facility that was always planned to be built in a modular fashion, limiting exposure to expensive equipment lying redundant and running on cheap sustainable power.
I see the risk greater on others personally.

“If argo had entered an arms race ,they would be sitting in a much better position with many more hundreds , possibly thousands of btc on their books today. To help them through this bear market in one piece.”

How FP, the facility has literally only just opened?! How would they have 100s and 1000s more btc if they had nowhere to deploy anymore machines?
They’d have ended up like Mara with a bunch of very expensive miners sitting in a crate doing nothing for months and months.
They have made it as clear as possible that they will expand, well within themselves, at the right time for the Company they run, not on someone else’s timeframe. Smart growth.

Not at all Hexam, the current conditions are undoubtedly a big negative for everybody in this space and indeed just about every other space across the markets.
I just don’t get frothy at the mouth and flap about it as there’s nothing we can do about it. The qualities that attracted me to ARB are still there today and I’m very confident given the cautious approach to date. Eyes wide open my friend.

As do I Hexam, as I keep saying.