Member Info for LongInvestor

…. Miners, recommend this post if you have too?

(Just interested to guage how many here held on the last 12 months, what a difference a year makes!)

I’ve lost 90%+ on

Not sure if the have the capital, however $ANY seems to have been moving much more than their compset the last two trading sessions… is that inside knowledge / leaks of buying Helios?

Minus 80%, so 1.34p

“ The Company is in advanced negotiations with a third party to sell certain assets and engage in an equipment financing transaction that the Company believes will strengthen its balance sheet and improve its liquidity.”

Sound like they are selling Helios and the installed miners?

Just searching US sites for any insights and found this site which indicates it’s been halted due to “news pending” rather than alternatives such as “regulatory concern”

https://www.cboe.com/us/equities/market_statistics/halts/

Looks like lots of docs in todays hearing, not looked at them yet,,,

https://cases.ra.kroll.com/cineworld/Home-DocketInfo

11/07/2022 02:00 22-90168-11 26 Cineworld Group plc
Great Escape Theatres, LLC First Omnibus Lease Rejection Motion
11/07/2022 02:00 22-90168-11 565 Cineworld Group plc
Great Escape Theatres, LLC Emergency Asset Sale Motion
11/07/2022 02:00 22-90168-11 656 Cineworld Group plc
Great Escape Theatres, LLC Emergency Motion to Shorten Claims Bar Date

https://www.txs.uscourts.gov/content/honorable-marvin-isgur-1st-week-mon-hearings-calendar

So to (partly) answer my own question, it looks like there is now a ~6 week timeline in play so we could be in for some big up/down moves along the way as news leaks. Here’s an excerpt from a news article with a summary of the timeline:

“ “The debtors shall run a marketing process in accordance with the timeline attached … which shall seek to obtain interested parties (‘potentially interested parties’) that may wish to effectuate a value-maximizing transaction with respect to the debtors’ assets and shall be acceptable to the debtors and the debtor-in-possession (DIP) lenders,” the order also said. “Unless otherwise waived by the committee, the marketing process shall commence no earlier than one week after the committee has been provided a copy of a business plan that the DIP lenders and the debtors have determined is a substantially final business plan.”

The timeline mentions a “pre-marketing preparation” period in the “weeks leading up to initial outreach for (a) standalone reorganization, third-party sale or plan sponsorship.” That would be followed by two weeks of “initial interested parties outreach” and four weeks of due diligence, with non-binding indications of interest due by the end of week 6. No specific target date for the process has been detailed yet.”

Full court doc: https://www.scribd.com/document/604368368/Oct-31-Cineworld
News article: https://www.hollywoodreporter.com/business/business-news/cineworld-sale-restructuring-process-rent-1235252636/

VANCOUVER, BC, Nov. 2, 2022 /PRNewswire/ - LUXXFOLIO Holdings Inc. (the "Company" or "LUXXFOLIO", which includes references to its subsidiaries) (CSE: LUXX) (OTCQB: LUXFF) (Frankfurt/Berlin: LUH), provides the following update regarding its business environment and operations.

The Bitcoin mining industry faces intense pressure. The market price for bitcoin has plummeted while hash rate reached new highs. The result is lower revenues for each coin mined. At the same time, electricity prices are increasing, further eroding profitability. To date, LUXXFOLIO has reduced its debt and moved to lower-cost immersive mining, but remains unprofitable.

Following a detailed review of the current operations and market conditions, the Company has decided to seek strategic alternatives for its 15MW Bitcoin mining facility in New Mexico. In the absence of finding a partner or purchaser for the mining operation, the Company will consider all options including idling or a permanent shutdown of operations.

Kelly Klatik and David Gens resigned from LUXXFOLIO's Board effective November 1, 2022. The Company thanks each of them for their service. As a result, LUXXFOLIO's Board presently consists of two directors. While reviewing strategic alternatives, the Company intends to seek qualified candidates to appoint as additional Board members.

https://www.prnewswire.com/news-releases/luxxfolio-operations-update-301666515.html

I added a limit order yesterday at 4.9 fib level and it was filled earlier, it's a tiny trade but already in profit which is nice anyway :) - Trade is a total punt but as it's so volatile (±50% swing from todays high to low) thought I would trade it...

Aside from a RNS confirming yesterdays news, what do you think the next newsflow could be +'ve or negative?

With such a huge rise there will be plently of profit taking this afternoon, I suspect it will drop to FIB levels of 5.7 or 4.9 by close?

Just listening to todays results presentation and PW has just said there are 6500 ePIC machines and earlier states the total EH will be 0.9 EH/s and they are looking to get close to the Bitmain ANtminer S19 XP in terms of performance...

..so doing a few calcs, it looks like the Intel / ePIC machines are targeting a hash rate of around 138 Th/s

Iris Energy dropped around 16% on opening today with volume, anyone heard why it’s dropped? (It was on my watch list but haven’t noticed any news to cause the drop today)

After reading todays results and watching the presentation, the key message for me, which was spelt out very clearly, was there is NO plans for any further dilution in 2022, funding for the 1.8 EH of Intel based machines will be from other levers and the 5.5 EH doesn't include any uplift from immersion (± 30% possible uplift would give 7.15 EH for 2022)

On this basis, along with Helios energisation imminent, I've dipped my toes back into ARB - I suspect others investors will start to return soon, I may buy more / trade over the coming weeks, depending on price action but for me, the above was a big blocker which has now been removed!

PW has just confirmed (on investor presentation) that the 5.5 EH does NOT include immersion!

PW has liked this tweet asking if immersion is included in the 5.5

https://twitter.com/DistortedL/status/1519568752588869634

... which to me, adds further weight that its included (at least what is currently known / expected about its use)

The RNS clearly says “Expect to achieve 5.5 EH/s of hashrate capacity by the end of 2022.” which means any operational benefits, such as immersion ARE included.

(1, They would want that headline figure to be as high as possible for marketing
2, The capital expenditure to get from 1.6 to 5.5 EH without immersion would be a lot higher than $125million)

I exited the majority of my Arb positions some time ago, in anticipation that it would retreat until Texas has been funded. ISTR there’s some timelines on payments to Bitmain with significant funding requirements to deliver the 2 EH between Q2/3 2022

Is there consensus ETA on when funding will need to be required to pay Bitmain and/or Intel? Are we anticipating an imminent fund raise in the next few weeks?

Agreed, it’s so obviously manipulation, i thought they may have wanted to switch positions and go long after the Options expired on Friday but looks like that may not be the case. It feels like someone is trying to burn the leveraged longs!? As you say, the shorts will need to buy back at some point, let’s hope it’s forced through upward volume rather than on their timescales!