The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
The financial ****storm, regarding general inflation and energy armageddon, will greatly affect discretionary spending for the rest of this year and probably the next.
Asos is down 82% so far this year, and Boo is down 84%.
The question is, which is the better investment at these super low prices?
Revolution Beauty to suspend trading as it fails to complete audit.
https://www.cityam.com/revolution-beauty-to-suspend-trading-as-it-fails-to-complete-audit/
Interesting point. In the current building, how many rigs have they got installed, and what is capacity of the main building? Are we to presume that all the phases will be installed in the same building; therefore no further construction needed?
https://www.cityam.com/mastercard-strikes-deal-with-binance-to-launch-crypto-payments-card/
Mastercard is set to launch a cryptocurrencies payments card, after striking a deal with Binance, the world’s largest crypto exchange.
The crypto debit card will let users pay for everyday purchases using various cryptocurrencies, including Bitcoin, that they have stored in their Binance accounts.
The payments card, which converts cryptocurrencies into fiat currency, is set to be made available to all new and existing Binance users in Argentina in the coming weeks, following the card’s global launch.
Cineworld Group
1.91
-7.95
(-81.54%)
https://www.investing.com/equities/cineworld-group-plc
https://www.gbnews.uk/news/cineworld-group-prepares-for-bankruptcy-filing/354955
Cineworld Group PLC is preparing to file for bankruptcy, according to the Wall Street Journal.
The British-based firm is the second-largest cinema chain in the world, with more than 9,518 screens across over 700 sites in 10 countries.
It comes after Cineworld struggled to rebuild attendance from pandemic lows, the report added.
Cineworld has reportedly engaged lawyers from Kirkland & Ellis LLP and consultants from AlixPartners to advise on the bankruptcy process.
t comes after the cinema company warned on Wednesday a lack of big-budget movies was hitting admissions and would likely persist until November, potentially complicating efforts to cut debt that it warned could significantly dilute shareholder interests.
Shares in the world's second largest cinema chain slumped about 40 percent in early trading, as it faces payment obligations to former shareholders of its US division Regal and a potential multimillion-dollar fine in a dispute with Canada's Cineplex .
Cineworld's net debt jumped last year and it was hoping to bounce back in 2022 from pandemic-driven losses with movie sequels such as James Cameron's "Avatar 2" and Tom Cruise's "Top Gun: Maverick", as well as some Marvel movies in the summer.
But Hollywood has released fewer movies than in a typical summer, largely due to filming disruptions during the pandemic, and some genres, such as romantic comedies, are now more likely to head directly to streaming.
"Despite a gradual recovery of demand since re-opening in April 2021, recent admission levels have been below expectations," the company said, without giving details.
Cineworld's net debt stood at £7.3billion at the end of 2021 compared to revenues of £1.5billion.
In March, it said it was looking for new sources of liquidity.
The company said on Wednesday it was still in talks with parties over potential funding or a restructuring of its balance sheet, but "any deleveraging transaction will likely result in very significant dilution of existing equity interests in Cineworld."
It was the inflation numbers wot dun it.
Boost for Bitcoin:
https://www.cityam.com/coinbase-shares-soar-after-blackrock-announced-bitcoin-partnership/?utm_source=dlvr.it&utm_medium=twitter
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), announces the allotment of 8,147,831 new Ordinary Shares in connection with the Company's acquisition of DPN LLC.
In March 2021, the Company acquired DPN LLC along with the land held by DPN LLC for Helios, its flagship Bitcoin mining facility in Dickens County, Texas. The merger agreement with DPN LLC and the DPN LLC members (the "Agreement") contains certain milestones which trigger deferred consideration to be satisfied by the allotment of further ordinary shares of £0.001 each in the Company ("Ordinary Shares") to the DPN LLC members. Certain of the milestones have now been met and the Company is obliged to issue 8,147,831 new Ordinary Shares to the members of DPN LLC, credited as fully paid at a price per share of £0.4950. No further Ordinary Shares are owed to the DPN LLC members under the terms of the Agreement as the remaining milestones have not been met.
Application will be made for the 8,147,831 new Ordinary Shares to be admitted to the standard segment of the Official List and to trading on the Main Market of the London Stock Exchange. Admission is expected to occur at 8:00 a.m. on Monday, 13 June 2022. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares of the Company.
Following Admission, the total number of Ordinary Shares in issue will be 477,825,166 and the total number of voting rights will therefore be 477,825,166. This figure may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
“$1.14tn worth of cryptocurrencies were traded by institutional clients in 2021, up from $120bn the year before,” he said.
“Aside from major financial institutions, large companies and even some governments are entering the market.
https://www.cityam.com/big-institutions-still-investing-heavily-in-cryptocurrency/
The ETF will track the Bloomberg Grayscale Future of Finance Index, which was launched in January to track the performance of financial services and technology companies in the digital economy. They include PayPal (PYPL), Coinbase Global (COIN), Block (SQ), Robinhood Markets (HOOD) and Argo Blockchain (ARB).
https://www.coindesk.com/business/2022/05/16/grayscale-investments-to-list-its-first-etf-in-europe/
Argo Blockchain plc, ("Argo") a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to announce that its flagship mining facility, Helios, has been energized. Additionally, an inauguration ceremony will take place today at the facility in Dickens County, Texas, and mining operations are expected to commence next week.
The delivery and installation of the 20,000 Bitmain S19J Pro mining machines purchased in September 2021 has commenced and the remaining units are expected to be delivered and installed in batches between May and October 2022. Additionally, installation has started for the Bitmain S19J Pro mining machines obtained via the machine swap agreement with Core Scientific and will continue in stages through July 2022.
Phase 1 of Helios' development will utilise 200 MW of power capacity and represents an increase of 243% in Argo's hashrate to an anticipated 5.5 EH/s by the end of 2022 as the Company significantly scales up its mining operations.
Helios also has access to up to an additional 600 MW of power capacity which the Company expects to utilise in the coming years through further phases of development at the site. It is anticipated this additional capacity, along with further development of the site, will enable Argo's operations to grow significantly to more than 20 EH/s.
Helios has been designed to house one of the largest immersion-cooled mining operations in the world, which is expected to be more cost-efficient, extend the life of the mining machines by reducing machine exposure to dust and debris and improve operational performance.
Peter Wall, Chief Executive Officer of Argo, said: "I'm extremely grateful to everyone who has been involved in the planning and execution of Helios. We started construction on the facility in July 2021 and it is a tremendous achievement that the site will commence mining operations in less than 12 months.
"I want to extend my thanks on behalf of Argo and all our shareholders to the team and their tireless efforts and communal drive to realise Argo's vision for Helios. The opening of Helios marks an important step for the Company, as we continue to implement new, ground-breaking technology, significantly upscale our operations and continue to strengthen infrastructure. Our work to achieve sustainable growth for Argo continues."
Sorry, missed this:
https://valkyrie-funds.com/wgmi/
The Valkyrie Bitcoin Miners ETF (Nasdaq:WGMI)
WGMI is an actively managed ETF available through Nasdaq that invests in public companies in the bitcoin mining industry. Companies are screened based on their usage of renewable energy.
ARGO BLOCKCHAIN PLC ARBK 66,099 510,284.28
Argo not included.
The ETF launch comes just a month after asset manager Valkyrie launched its Bitcoin Miners ETF (WGMI), focusing on miners that primarily rely on renewable energy.
The largest weighting is Riot Blockchain (RIOT) at about 11%, followed by Hut 8 Mining (HUT) at 9.1%, Marathon Digital (MARA) at 8.3%, Iris Energy (IREN) at 7% and Canaan (CAN) at 6.5%. Rounding out the top 10 holdings are Hive Blockchain (HIVE) at 6.3%, Northern Data (NB2.GR) at 5.8%, Block (SQ) at 5.7%, Bitfarms (BITF) at 5.6%, and lender Silvergate Capital (SI) at 4.8%.
https://www.coindesk.com/business/2022/03/09/vaneck-launches-crypto-mining-etf/
Pluto Digital, a crypto venture company, agreed to buy investment company NFT Investments in a reverse takeover that will see it gain a listing on the Aquis Stock Exchange Growth Market in London.
https://www.coindesk.com/business/2022/01/24/crypto-vc-fund-pluto-digital-to-go-public-in-reverse-takeover-of-nft-investments/
Intel – one of the world’s most recognisable microchip manufacturers – has suggested it may be about to release a Bitcoin mining chip.
https://www.cityam.com/intel-hints-at-low-voltage-bitcoin-mining-chip/?utm_source=dlvr.it&utm_medium=twitter
??BREAKING: The City of Rio de Janeiro in Brazil will allocate 1% of the city's reserves to #Bitcoin ??
https://twitter.com/BTC_Archive/status/1481939923972378630
Bitcoin adoption for countries is a 'high stakes' game and more governments will buy the cryptocurrency this year to stay competitive, Fidelity says
https://markets.businessinsider.com/news/currencies/bitcoin-adoption-countries-high-stakes-game-theory-central-banks-crypto-2022-1
Debt-crippled Chinese property giant Evergrande defaults for the first time, sparking panic in Beijing as authorities rush to protect country's economy
https://www.dailymail.co.uk/news/article-10292447/Debt-crippled-Chinese-property-giant-Evergrande-defaults-time.html