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“ "Bitfarms are the first Sept numbers I’ve seen, they dropped down ~14%" - but as I understand it they installed some new machines last month? So unless ARB have done the same their drop is likely to be larger.”

Doing the maths to include the extra TH/s from their new miners, assuming they were all installed 1st Sept (so best case) Bitfarms production dropped 17.5% in Sept, which would put Argo around 170 BTC. If it’s much less than that, I suspect the SP will drop (assuming no other news).

Bitfarms are the first Sept numbers I’ve seen, they dropped down ~14% from their Aug figures, so I would expect Argo to mine ~177 BTC in September to be on par. (Assuming no increase in hash rate/miners).

@Lottohopes

Thanks for the feedback. I’ll take a look at the articles tomorrow, I agree and think theres a possibility of something happening with ePic, however I come from a tech background, have worked with AMD and others in a previous life and know too well that things can get delayed, as evidenced by the first one announced by Argo re delivery of ePic rigs.

I agree that it’s highly likely the ePic rigs will be mining something other than BTC, ePics background looks to be in graphics cards so my bet would be ETH (especially as PW seemed to warm to it in various videos). I’m okay with that kind of diversification, fingers crossed they can deliver something that works (and I’m assuming it will be immersion too)..

Timing wise, I suspect we’ll get some kind of announcement this year but doubt we’ll have anything running until 2022.

@Lottohopes

Interesting comments, I was not aware ePic are releasing 3 miners this year, or they are intending to list. Can you provide a source for this information so we can verify?

Do you have any indication on when solar will provide income / reduce costs for Argo? You think this will happen before Q2 2022?

FWIW, I think Argo moved up previously based a lot on sentiment, it wasn’t based on company performance, confirmed by Argo releasing a RNS saying they didn’t know why it was so high (or words to that effect). In addition, I think the new shareholders didn’t have much information, there was lots of talk about once we get to Nasdaq, we’ll be valued like Mara, £5-10 per share etc..

Since then, our CEO sold shares, we’ve had multiple dilutions, there’s been lots of in-depth analysis of the numbers (by various people in Twitter/YouTube) comparing Argos performance against its peers.. Retail shareholders now are alot more informed than back in Feb. Many of our peers have uplisted to the Nasdaq making them much more accessible to UK, EU and US investors.

The “A Random Investor” video makes a good point in that we’re not going to increase our miners after Oct until Q2 2022 (“Quarters and years” ring a bell!?) and our monthly BTC will decline, as others increase their hash rate. He indicated his entry point now would be $1.25 (92p)…. I personally think this share will now tread water, until we have some significant news regards Texas, miners and how they will be purchased. For that reason, I’ve cancelled my Limit order to buy back my 3/4 shares, will keep watching and holding me remainder but won’t be investing more until maybe next year.

GL all, there lots of other opportunities out there to diversify your risk and obtain greater performance. I look forward to when our new Investor Relations person comes on board and hope they can deliver something akin to our peers, instead of “I can’t talk about xyz”

I suspect this message will get slated by some of the Argo bulls on here, for the silent majority out there reading this, I strongly believe Argo will come good, just not as fast as many on here believe!

This video is from “A Random Investor” and provides some perspective and possible reasoning why the share price is not moving, Argo is is second largest position.

https://youtu.be/Vy83-E-9eNw

The doc below is quite old, however gives a very good, detailed look at ADRs and how they relate to the underlying stocks. The more recent info I've found, seems to suggest not much has changed since this was written.

https://core.ac.uk/download/pdf/144231919.pdf

TLDR; DR's Outstanding can increase and decrease depending on demand. If not enough ADRs, a broker buys more of the underlying stock and deposits them with the custodian.

The custodian for Argo is JP Morgan - ADR details can be found here: https://www.adr.com/drprofile/040126104

I can't see any news (anyone found any?) so my guess is that east coast American institutions are waking up this morning with emails to buy BTC after the Fed Chairman confirmed last night USA had no plans to ban BTC. (That will give big companies a lot more confidence in adding BTC to their balance sheets IMHO.)

Plan B has BTC at >63k for Oct - I wouldn't bet against him after his predictions to date!

https://twitter.com/100trillionUSD

This is a very interesting thread following I/V with HUT8 IR person!

https://twitter.com/anthonyc3004/status/1443598663318708230?s=21

Key takeaways relevant to Argo
- Rig deposits at $500 per rig (= $10mln for Argos 20k S19Js)
- Cost per rig TH/s *temporarily* dropped from $90-100 to $30-40 post China exodus (assuming now somewhere in middle puts S19Js at ~$5,000 - 6,000 each)

@Theeduke

I noticed your posts on here and the many Twitter accounts that have been deleted, showing screen shots of several hundred’s of thousands of £’s purchases in ARB.L - many unfortunately at much much higher prices than we are now. Reading between the lines, it sound like you got lucky and purchased a nice some of shares last year when prices were cheap!? Congrats on that, I sincerely hope you don’t spend it all!!

My question is, whilst I have seen many buys, I’ve not seen any posts on here or your various Twitter accounts indicating you have sold any shares… have you sold any or are you sitting on a hefty loss currently?

As of now, current figures are:

ARBK price = $15.36
USD/GBP Exchange = 1.34
Shares per ADS = 10

So LSE equivalent price to Nasdaq is currently:

15.36 / 1.34 / 10 = £1.14

(However when both Nasdaq and LSE are open, there always seems to be 1-2p difference - I suspect it may be due to the spread or different reporting of Bid/Offer/Mid prices between the exchanges/sources I'm using)

@K3VMC 'CLEARLY states that rigs will be paid for in instalments, as machines arrive. '

Maybe your reading a different RNS as no-where in the one I read does it say they will be paid *as machines arrive* !! - The RNS I read says 'to be paid in periodic installments before final shipment' (note it says 'before' not 'as' they arrive)

@K3VMC 'You are entitled to your opinion, but not your own facts. I accept your apology, in advance.'

Riot paid $138.5mln for 42,000 S19J Pros = $3,298 each.

Arb are purchasing less than half that amount, $70mln is a very conserative estimate as that was some time ago. Happy to be corrected if you can show me examples of cheaper S19J pro's being purchased??

@Lolades78

The RNS states 'paid in periodic installments before final shipment' ... 'expected to be delivered and installed' ... 'in monthly batches from Q2 2022 through Q3 2022' = Full payment of the S19J's will need to be made before Q3 2022 - if it were a lease, those payments would typically be between Q2 2022 and Q2 2024 which is very different!

I'm just posting the facts, good or bad and yes, I sold 3/4 of my ARB position last week, however I still have a significant sum invested along with much more in several other miners to spread my risk.

@Hexam 'Actually the RNS states they will be paid in instalments - i.e. rather like a lease!'

A lease (such as the last one Argo did with Celsius) are typically paid over a significant life of the product e.g. 2 years *after delivery* as with Celsius. These payment are to be made *before* delivery so we have to pay $70mln+ *before we gain any benefit* from them!

@misterbeck ‘ Hard to explain this. Some sentiment weakness somewhere or a shorting campaign? ... Constructive thoughts please...’

My thoughts are… the money raised from the IPO was said to cover the Texas build, not the rigs, some here suggested they would be leased… This RNS confirms that not to be the case (at least for 61MW of the 200MW announced for 2022).

Riot recently paid $3298 for twice the number of S19Js, so if we assume Argo pays $3500~4000 we will need an additional $70~80mln in funding (plus maybe more to fill out the additional 139MW).

As the RNS was so vague on how they will be paid for, we look to recent history suggest this will be funded by either ; Loan, Selling BTC or another raise/dilution.

That to me is why the SP hasn’t moved up today.

I was just doing the maths too, it looks like there are two variations of the S19J Pro, one has 100Th/s @ 3050W and a later has 104Th/s @ 3068.

20,000 @ 104 Th/s would give you “over 2 EH”

Source: https://www.asicminervalue.com/

Let’s see if we hit my < 109 - what’s your target for this week Hearshopin?

Mystery guy

‘Lol 1.58 for 1.09. With that kind of knowledge it's beggars belief you didnt buy at 0.5 and sell at 3.39’

158 was just 4 trading sessions ago, 109 will likely appear this week… I guess you are new to the stock market?

@Hereshopin ???? I’ve been travelling the world on my yacht, financial freedom is great, just dabbling now to keep my brain ticking over!! ?? - I’ve plenty still invested, just don’t feel the need to post on here!