The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
https://bitcoinmagazine.com/business/us-infrastructure-bill-bitcoin-miners-coders-exempt
https://twitter.com/michael_saylor/status/1417851275392258049?s=20
I agree Musk was bad for short term for crypto. Not sure what he means long term, but part of me thinks the clean BTC narrative being pushed in the US could legitimise BTC. So maybe this was needed to ensure long term compliance to ESG standards. That being said, if Tesla still has its holdings Musk has to show a more bullish side to BTC today. Otherwise he's shooting himself and the market in the foot.
Press release
21 July 2021
Argo Blockchain PLC
("Argo" or "the Company")
Submission of Confidential Draft Registration Statement for Proposed Offering
Argo Blockchain (LSE: ARB), a global leader in cryptocurrency mining, announces it has previously confidentially submitted a draft Registration Statement on Form F-1 with the United States Securities and Exchange Commission (the "SEC") relating to a proposed dual-listing and initial public offering (the "Proposed Offering") of American Depositary Shares ("ADSs") representing its ordinary shares in the United States. The number of ADSs to be offered and the price range for the Proposed Offering have not yet been determined. The Proposed Offering is expected to commence in the third quarter of 2021 after the SEC completes its review process, subject to market and other conditions.
This press release is being made pursuant to, and in accordance with, Rule 135 under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.
Forward looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended) concerning future events. Words such as "expects," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding completion of the offering. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by the Company at the time these statements were made. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable at the time made, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto
I just can't imagine people being that stupid quite frankly. Or that a nob with 5 followers on Twitter posts a ridiculous statement and it ends up with proactive investors coverage...but what do I know. This is a crazy ride.
Interesting how Bitfarms can give status update mid-month. Would be nice for Argo to confirm traction too.
https://btcmanager.com/bitfarms-green-energy-bitcoin-mining-record-high-july/
If Binance changed their business model to accommodate UK / Italy / etc it would be fine and people would be able to purchase BTC in the same vein as Coinbase.
It's because of derivatives trading (which is regulated) they are facing these restrictions.
What I'm struggling to understand with Argo SP action is the recent disconnect from BTC price. BTC has been oscillating between 30k-35k for 2 months now. Yet Argo is downtrending on sentiment alone. But the key driver, eg BTC price, has held broadly flat. I figure July results will be make or break. If we don't show that we have capitalised on China exodus, we can't argue that an increase in mining value can partially offset BTC depreciation.
Like everyone, I was sitting on a nice fat profit weeks back and have watched it all evaporate into thin air. So I'm getting nervous, I won't lie. But I'm also aware at how quickly the tide changes and have lived those days where Argo bounces for no reason. Stuck in a rock and a hard place atm.
I stepped away and returned to this. Didn't intend to ruffle any feathers. I've been an Argo fan through and through, and yes, I've been around a while. BTC price is testing us, so....in the absence of price upside we need to become more profitable by other means. I admit, I am dying to see how Argo is boosting its productivity to offset the BTC depreciation (eg China exodus opportunity, miner deliverables, etc). In the beginning a lot of eye catching buzz words formed part of most published RNS. And the market reacted with enthusiasm. But how are we tracking against these though? What are Argo's KPIs?
I can't give you the answer, but I would like to know. Whenever PW makes a claim my mind naturally want to see these backed up with some sort of evidence to show everything is on track and the company is liquid enough to react swiftly when competitors make their strides. I like Peter, but my money is on the company not Peter's communication efforts. I like the Q&As in the beginning, but they drifted off into meaningless drivel at times. I am looking for some sort of reassurance that my money is in trusted hands. I haven't turned on Argo the slighted, but I want to see the evidence that management is capable of competing promptly. Hut 8, Marathon are heading out with numbers, targets, etc. And they are going hard. So how are we faring by contrast? Right now, I'm getting the impression that we are quite passive, perhaps even lagging. Those are my thoughts. Not everyone's.
What we need is an announcement on equipment in the veins of Hut 8 and Marathon. PW stated that he was capitalising on the China exodus. We need evidence. Any investments made. Over the last weeks and months I've noticed PW resorting to thin air statements. Similar to the weak NASDAQ announcement. No grit. I'm just not seeing any sign that the business is actively pursuing these opportunities. He is a great communicator and definitely enjoys the spotlight parading himself around podcasts.
I must admit, the NASDAQ statement disappoints me. Why announce that you're only contemplating listing rather than that you've applied? A thought process is not worthy of a market announcement. All the 'I can't say anything' talk felt like a tease to keep us warm, because it sounded as if the application had been made but Argo was too cautious to commit to an outcome. It's not a great feeling to think the application hadn't even been made.