The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
For me the downside of the gamble has considerably reduced.
Going forward I think Galaxy will secure a PPA , especially as they want to attract other miners.
Arb costs will reduce especially if shared with other miners and our Hodl will increase and when BTC does recover we will see the benefit
Feeling a lot happier than this time last week - onwards and back upwards !
https://cointelegraph.com/news/bitcoin-miner-greenidge-generation-signs-74m-debt-restructuring-agreement-with-nydig
Is this what Arb will do ?
https://cryptopotato.com/bitcoin-skyrockets-by-almost-1000-as-binances-cz-announces-industry-recovery-fund/
Mkt seems to like it.
Don’t think the crypto mkt want more bad news eg to see miners going bankrupt.
FTX event may work in our favour.
Binance are looking to bring in other players to the scheme with more announcements over the coming days.
https://www.coindesk.com/business/2022/11/14/binance-starts-recovery-fund-for-crypto-projects-facing-liquidity-crisis/
Following on from their earlier intention to support BTC miners with $500m.
Would think we were a perfect candidate - miner with liquidity problems !
https://www.cnbc.com/2022/10/27/bitcoin-miner-core-scientific-warns-it-might-go-bankrupt-stock-plunges.html
In this article anaylist says that due to the fall in rig values in 2022 creditors more likely to want to restructure than take possession of rigs.
As they are fans of BTC hopefully NYDIG will finalize the restructuring of their financing agreement inc releasing £5m of funds with Arb soon. The LOI was meant to be finalized within a few weeks , it’s now nearly a month. Presume will find out one way or the other soon.
https://www.coindesk.com/business/2022/11/11/do-not-invest-in-non-bitcoin-crypto-nydigs-ross-stevens/
It’s another finance option if the share purchase falls through. I feel a lot happier , bought back in at 15p so as long as Argo survive the short term it’s onwards and upwards.
https://cryptopotato.com/michael-saylors-wish-for-bitcoin-accounting-changes-has-arrived/
Does Perry leaving now suggest the deal is going through and new shareholders starting to make decisions. Assume they would have known the Sep numbers and agreed the refinancing RNS so they must have realized that this would cause the SP to fall below their purchase price but maybe they accepted that as part of the buy in.
FP - Agree was expecting monthly update to show improvement due to increased rigs , lower temperatures and maybe some initial benefit from hosting and it may well do. Just not sure why they would issue the RNS just before the update if the update was positive. If update was expected to be positive then why not wait to issue the restructuring RNS till later when all the agreements are in place. Maybe part of the monthly update will be increased sale of BTC.
Sold 500k of my shares first thing yesterday.
In short term given subscription price of 27.6 can’t see shares going above this.
Also concerned as to what the monthly update will say and that yesterdays RNS only came out now to counter a poor monthly update.
If monthly update was satisfactory then assume they could have held off on the refinancing news until it had all been agreed.
Can’t argue with you on the ppa - not Argo’s finest moment.
Think your a bit out of date on the energy mix - wind/solar was already at 34% 1st Qtr this year.
Also Argo will often be using otherwise wasted wind power so our use of renewables will be significantly higher than the general Ercot mix.
https://ieefa.org/resources/wind-and-solar-generated-record-34-ercot-power-texas-q1-2022