Member Info for Phoebus

BBB, I draw your attention to my post from Feb 17.

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ARB did a placing for £22.4M recently and are spending I think around half of that to add 610 peta hash, so £10M would clearly buy a huge amount of power, around 550 peta hash I guess.

https://investegate.co.uk/argo-blockchain-plc--arb-/rns/private-placement/202101180700059878L/

In January ARB mined 93 BTC equivalent of which roughly 5% was ZCash, so about 88.4 BTC and their BTC hash rate was 787 peta hash. Ceteris paribus 550 peta hash would generate around 61.7 BTC or £2.3M per month.

https://investegate.co.uk/argo-blockchain-plc--arb-/rns/january-operational-update/202102030700037886N/

Even if we use a figure of £0.5M from the recent CLP placing to buy rigs we might expect that to generate 3 BTC or £115K per month net to CLP. Even on this basis CLP looks way too cheap. If any more funds become available for extra rigs then look out above.

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If we update that to use £3M of the £3.7M you mention then we get a figure of 18 BTC or £690K per month net to CLP for BTC production. At a PE of 20, which seems low for a tech stock particularly at this point in time, we get a market cap for CLP of £165.6M or 18.5p per share.

Biddyb, good spot on the Yellen comments. BTC is crypto gold and lugging that around is pretty inefficient. We had the same FUD during the last BTC consolidation phase and expect we'll get a similar line up of bullish tweets and news of corporations putting BTC on their balance sheets too once they managed to scoop up a few.

He did indeed. Well remembered.

The BTC volume on today's dip was almost as big as the biggest volume of the last consolidation, at least on Binance. This suggests to me that if BTC is to consolidate for a while that today's dip may well mark the low or close to the low.

I expect we could see some consolidation in BTC for a week or two after a nice run up to nearly $60K. This would be good news for ARB as it gives the RSI chance to cool down and the SP time to build a nice base ready for a strong next leg. If it proceeds as per the last consolidation I would expect the odd slam and bounce like today as the base is established. Nothing to worry about IMO. BTC Q3/Q4 stock to flow and chill.

Not for DGHI. Rocket ship. Rapidly closing the gap to ARB and the others.

It's playing catch up to the other miners. Hope you bought some. Only £200 in my international account sadly, but I went all in LOL.

Are you too lazy to read through KR1's RNS statements and draw up a list of their crypto holdings? It will take you an hour or two and you will find it is both extensive and massive. Your loss. For the record I have a decent holding in CLP, but a lot more in here.

As much as I enjoy your Bearcast Tom, I must say you've really embarrassed yourself with your analysis of KR1, comparing it to UPPT of all things. I doubt you could pick two crypto stocks that are further apart in terms of their fundamental asset backing.

Instead of bothering to do proper research on KR1 you've just looked at the last balance sheet and assumed the net current assets are still £8M. They are not. The value of our DOT holding alone reached over £105M over the weekend. The fact you don't realize that shows quite clearly you have no understanding of the company whatsoever yet see fit to comment on it.

A lot of your work is good and insightful, but rather than rush to push out sensationalist copy and stick the knife in, do try to do some proper research first. In honor of this and on behalf of KR1 shareholders who were well ahead of the curve in investing here, I would like to award you the LSE Asylum bulletin board style moron of the week.

OK, which corporations bought the dip?

Exactly. This is nothing, just how the BTC bull market rolls and we should expect these kinds of pullbacks and consolidations on the way up. Wonder if Peter is looking to add to the HODL on the dip again. Bet Musky Boy is licking his lips.

I'm not keen on MSMN.

Bucket, thanks for a sensible response. Glad to hear you're a LTH and think I see where you're coming from now. The twists and turns while you hold can be frustrating, but I'm very confident we just need to have patience to reap the reward here. Unlike many other investments this is not primarily about company specific value drivers but external ones, the price of BTC and I feel confident that it will continue to rise over the coming months even if we get the odd hiccup and consolidation. ATB

Nope. Me neither.

For a second I though they'd raised some funds via an IPO on NASDAQ to double our DOT holding. :D

Sorry for being so blunt Bucket, but if your posts we're a bit less transparent and a bit more balanced I wouldn't mind.

'BTC rises = ARB rises slowly'. I started buying at 13p when BTC was around $18K. BTC trippled and ARB went up about 25 fold. Bucket, all you do is talk negative rubbish, so my recommendation to you is STFU.

Don't think it's the MMs. BTC is consolidating a bit. Stock to flow still points at Q3/Q4 for BTC peak for this cycle at much higher levels than now so ARB and all the other crypto stocks look set to move up again either now or after a bit of consolidation. We've had a brilliant move in ARB over the last few days, so some consolidation will create a base for a really strong next leg up. Locked and loaded. GLA

I thought it was supposed to be here, but all I see is cannabis this and cannabis that. Enough is enough.

I get your point Aden, but don't see it as a case of gold or Bitcoin. Both make a lot of sense given the current macro backdrop and both have their own unique advantages. With most commodities soaring the last few months gold has stagnated, likely due to the naked shorts on COMEX. Thankfully this is not something that affect cryptos and they have been able to step in to gold's shoes while it takes a breather. I expect both assets to ultimately do very well and see a portfolio balanced between the two as making a lot of sense.