Member Info for LimpingAlong

FP - “PWs "Smart growth" is nothing more than a catch phrase... .”

Nope, it’s the CEO of a company telling everyone smart enough to listen, exactly what his timeframe is.

@FP, I’ll say to you what I said to Chuz earlier, I (and many others I’m sure) am damn pleased it’s PW running the show and not you. “Smart growth!”

FP - “I think enough people explained to you yesterday its an arm race!
And waiting a month to start installing them is hardly foolish on a companies part.”

Nope, you have your opinion and I happen to think it’s foolish is all. Money sitting in a box not making any money is s**t business no matter what form it takes.
PW has explained very clearly how he sees the growth of this Company and it’s this controlled approach that will ensure Argo will be a secure, future proofed and market leading Blockchain technology Company well into the future.

Chuz what we do know is that there are, and will continue to be, 3 main options to raise significant funds, Loan, Hodl sell, Shares. We all know that.
What we don’t know is what option, or combination of options will be selected to achieve this or when. We still don’t know the details of exactly how the remainder owing on the 20000 machines is scheduled to be paid or indeed whether more has been paid in the meantime, and we still don’t know how much that is.
Here’s something that will really scare the pants of you specifically, guess what, in the future they may want to buy another load of machines and guess what, they will most likely have to raise some money again….
This is not shocking to most people, I know that annoys you, but get over it.

Chuz - “Thing is, I know I'm right and you will also know I'm right when it happens, I just hope that when the time comes people have the integrity to admit that they were wrong and not pretend like they knew it was going to happen all along.”

Wrong about what? What exactly are people going to wrong about? Wrong to say you don’t know how a fund raise is going to happen because it hasn’t been announced yet? 3 levers an all that….

@Chuz - “Id take the $550 million of miners on hand over a $100 million empty facility..”

And it is for that very reason that I am eternally grateful that PW running the show and not you.
Empty facility?? It’s not even finished yet. 20000 new machines getting put to work straight away, an undisclosed amount being relocated from Canada immersed and overclocked and most importantly, none sitting in a box doing nothing. “Arms races” are foolish if you can’t deploy the weapons.

@Chuz, so in your opinion having 60,000 miners sitting around doing nothing at goodness knows what cost is preferable to having a facility able to house miners and get them generating revenue for your Company when they arrive?
The point I’m making is, that business model is dreadful, in any business for that matter. Those machines will be outdated before they’ve even been switched on!
Again, you have no idea what the funding for the Argo miners will look like, you continue to guess. You’ll know when the rest of us do, and however it happens, at least the machines will be getting to work paying for themselves, not sat in a crate somewhere.

Phase 1
* Currently in progress, comprising and expected to be completed in the first half of 2022
* +100MW of power capacity
* It includes the electrical interconnection, infrastructure and machine hosting facilities using immersion technology.
* Estimated cost: $50 million
* 20,000 Bitmain Antminer S19J Pro machines.
* RNS dated 30th September 2021:
* “…to be paid in periodic installments before final shipment. The initial deposit is currently being funded by the Company’s cash reserves.”
* The machines are expected to increase Argo’s hashrate by over 2 Exahash and are expected to be delivered and installed at Helios in monthly batches from Q2 2022 through Q3 2022.
* Based on existing capacity and previous orders, Argo’s mining capacity is expected to be 1.7 Exahash by mid-Q4 2021.
* This expansion will bring the Company’s total mining capacity to 3.7 Exahash by the end of Q3 2022.
* The cost of the first 2 phases has been covered by the Company’s existing cash resources and the net proceeds of the fundraising via Nasdaq and Senior Notes.

@FP, utter waste of resource tied up in Machinery sat around month after month doing nothing. They struggle to keep what they’ve got going with any consistency. Bad model! Pi55ing money away on inefficiencies.
“Smart sensible growth”…that’s the path to success.

AB your post highlights nicely the fact that racing to buy as many rigs as possible as quickly as possible is a fools errand. “Smart sensible growth” is the way forward.

Thanks @jayblu, they keep buying ‘em!!

@krautyankee, :-)))

Chaebol, your story is pure fiction. I see you, everyone here sees you…. “You’re unwell la…blah blah”……keep trying but you are unraveling in front of everyone. Look at the amount of people calling you out! We all see it, it’s laughable.

I’ve purposely avoided conversing with you Chaebol because it’s plain for all to see that you are suffering. Nobody posts as much bs as you do and it’s getting thicker and thicker.
You absolutely are obsessed with Duke, it’s embarrassing how much you crave his attention saying anything to try to get him to notice you. He’s done well here and you’d like some of that action as well, there are better ways of going about it other than stalking!
As I’ve told you before, I know your type, I’ve seen your type, it’s 95% fiction seeded from 1 “win” once upon a time. Just relax…….

Chaebol wriggling now and everyone can see it, in the death throws. Obsessed with Duke and all sorts of excuses
flowing now. Painful to watch at this stage!

@Chuz, yawn zzzzzzzzzzzzzz

@AB, exactly this.

@FP, your focus is far too narrow though. This is a blockchain technology company who have time and time again stated that whilst bullish on btc, it is not the only “iron in the fire”.
As has been stated by PW on many occasions, this is a long term project….“quarters and years”, using “smart sensible growth”. Both those statements tell you everything you need to know about this investment, and those are not new statements.

@FP why worry about what others are doing? If everyone had identical set ups, on identical timeframes, with identical overheads, and btc was going to be the only focus now and forever, then sure, it’s a race.
But it’s not that is it? Not by a long shot.
ARB need to do what they are doing now, smart sensible growth and future proofing with diversity and green credentials.

Agreed AB, why there is this need to try and imagine this space as a race is beyond me? I would much rather the Company remain profitable and stable, growing at a rate that is sustainable for them.
This Company mines btc and zec right now, but the future of blockchain technology will take it beyond an out and out miner and to get there successfully over time is far preferable to entering some pointless “arms race” right now.