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.
I work in advertising and know a little about this stuff
2 identical products.
1 priced at £5. 1 at £3.
Quite often the £5 will outsell the £3 because of perceived value.
Human beings are rarely rational in decision making.
Gatti you are factually incorrect - see this extract from the May operational update RNS:
"Due to Argo's long-standing partnership with Core Scientific, a replacement order has been placed with Bitmain (via Core Scientific) of Antminer S19 and S19J machines totalling 530 PH at a competitive price to current market rates. These mining rigs are expected to be delivered and installed in stages, with some machines already operational, and the rest expected to be installed, later than the original order, in September and October 2021."
So some in place already and the rest in 3-4 months time.
Let's see if our competitors have issues that they solve so well. I suspect not.
I know you want the SP to fall in ST so you can buy in lower but posting lies will get you in hot water. Suggest you stop that.
K3VNC sorry I was unclear and rushing.
yes was doing a worst case with very rough numbers to include the depreciation.
more accurately on a monthly basis at today's BTC price:
BTC mined - 166, value $5.3m / £3.8m
Margin 82%, ie £700k energy
Admin: £2.4m / 12 = £200k
Depreciation: £5.9m / 12 = £500k
Total 'costs': £1.4m
So total monthly Rev: £3.8m, total costs £1.4m.
At $32k BTC.
This is before new machines come online.
And costs will come down by Q1 2022 once Texas hits. We may even get to net profit on energy with that.
Hope useful for some concerned re BTC price drop.
RC
agree K3VMC.
Please PLEASE all genuine Argonauts DO NOT REPLY.
Sorry for caps but it is the only way to kill these toxic posts. Zero oxygen.
Agree point re fair value at 220p currently.
That is the most recent detailed valuation.
Unless anyone can go into more detail than the broker 220p is the only professional forecast based on current BTC price. Many of us forecast higher BTC price by year end and of course 2k+ hodl and as such hoping for SP above 300p.
It is around $8k currently on cost of energy
Plus circa same again for other costs. Let's be cautious and say $10k.
So assuming all things being equal ARB breaks even as c. $18K I believe. Or we go with $20k to be super safe.
So even a $32k BTC is a tidy profit margin that many businesses would be delighted with.
The business model is excellent here. Only worry is if BTC falls below $20k for a sustained period.
indeed Blubay that has been discussed
there is actually more grown up pros and cons stuff already
# argo-general-chat
Everyone is welcome whether you have posted previously or not
Please do join and do not feel you have to post - we know some people prefer not to post
We just wish to stop wasting time replying to people who have negative agendas or lack the mental willingness /capacity to understand
Delacey is trying to let everyone in. Pls reply here if you are waiting to join so all in one place.
thanks
RC
US ETF news due in June - could trigger $3-4bn BTC purchases
DE funds can buy BTC from Jul
Musk seems to have had his wings clipped
And we await Nasdaq
This is IMHO our bottom (true there nay be odd btc dip but suspect will jump back)
Know it is tough for those underwater currently but we just need a little patience.
Time to zoom out.
Personally i am sick of zero evidence based ‘$30k tomorrow’ guesses by idiots with an agenda (that’s you drwrong) so leaving this board for at least a month. Maybe longer.
ATB Argonauts
RC
CMEU is clearly trying to get in lower so spreading FUD in some misguided view that his efforts will impact anything.
Some would argue that this is slimy, lowdown and pathetic. I couldn't possibly comment.
No worries, apology accepted CMEUNT
Again old news - you really do need to keep up. But even this new lower target price of 220p for 2021 currently is, let me see, +57% from here so not a bad return for any new investors.
Personally I fancy us to smash that though once plans become clearer and certainly if BTC breaks to the upside as predicted by the likes of PlanB, Cathie Wood and Dan Held (if you have not heard of them worth looking them up).
ATB
RC
These points are why I am becoming increasingly confident about ARB. Why?
1. Problem. PW finds a solution
2. Beyond mining - Pluto, WonderFI etc
3. Texas - clearly progressing and will, I suspect, be part of a wider green energy play in terms of working with the Texas grid
Any further questions CMEU pls do not hesitate
ATB
RC
Little slow CMEU, although it is good news isn't it - as per this RNS of last week https://polaris.brighterir.com/public/argo_blockchain/news/rns/story/xq7q3nw PW played a blinder.
- Production issues with one supplier but "Due to Argo's long-standing partnership with Core Scientific, a replacement order has been placed with Bitmain (via Core Scientific) of Antminer S19 and S19J machines totalling 530 PH at a competitive price to current market rates. These mining rigs are expected to be delivered and installed in stages, with some machines already operational, and the rest expected to be installed, later than the original order, in September and October 2021."
I wonder how well MARA and RIOT will cope when they hit similar hurdles?
Also worth bringing you up to speed on another couple of things in case you missed them as well..,
1. Investment in DeFi Company
As part of the Company's ongoing strategy to build physical and digital cryptocurrency infrastructure, Argo is also pleased to announce it has made an investment of £146,000 (CAD $250,000) in WonderFi Technologies Inc. (formerly DeFi Ventures Inc.), as part of a larger CAD $16.4 million fundraising round by WonderFi. WonderFi is a technology company with a mission to bring decentralised finance to the masses through a suite of products and tools which are built on the core principles of simplicity and education. As part of the investment, Peter Wall has been appointed as an unpaid advisor to WonderFi.
2. Argo is also pleased to announce that it has executed a Grid Interconnection Agreement with the Wind Energy Transmission of Texas (WETT) and American Electric Power (AEP) for 200 MW at their Helios site in the Panhandle of Texas for its Texas mining facility. The facility is expected to connect to the Electric Reliability Council of Texas (ERCOT) grid in Q1 2022. Argo has also purchased two 90 MVA 345kV transformers from Pennsylvania Transformer Technology, a key part of the electrical infrastructure for the Company's Texas development. The transformers will be manufactured in the United States and are scheduled to be delivered to the site in February 2022. When completed, Argo's Texas mining facility is expected to be one of the largest facilities in the United States.
3: Mining update
During the month of May, Argo mined 166 Bitcoin or Bitcoin Equivalent (together, BTC) compared to 163 BTC in April. This brings the total amount of BTC mined year-to-date to 716 BTC.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in May amounted to £5.51 million (April 2021: £6.70 million). Argo generated this income at an average monthly mining margin of approximately 82% for the month of May despite fluctuations in mining difficulty. (April 2021: 85%).
At the end of May, the Company held 1108 Bitcoin or BTC equivalent.
So all on track for 2,000-2,500 BTC hodl by year end
+Pluto
+WonderFi
+Texas progressing superbly
+new Bi
I have to agree. This was a chance for the serious brains to step up and make the case. To be fair I haven't watched much but I didn't like the cult like / ego stuff I saw at the Saylor & Kaiser piece.
I fully respect Saylor, he explains things well and makes the case. But too many others are IMO doing harm rather than good in terms of serious II adoption.
IMO BTC will survive and thrive but perhaps despite some of this stuff not because of it.
.ztarz enjoy the break mate.
I tried to do the same thing but ended a bit like Michael Coleone in GF3 - every time I tried to get out, BTC/ARB dragged me back in! I agree with what you are saying though - lots of trolls and micro BTC/SP analysis now.
I have decided to simply ignore all trolls. I do enjoy alternate points of view but idiot SP or BTC predictions based on no supporting evidence and written by a 54 year old man who still lives at home with his mum, is really not something I should be concerned with.
There are many great posters here, yourself included and I must say I have learnt a lot.
To all the quality posters who take the trouble to source interesting articles and share considered POV - please do keep it up.
Let's reclaim our BB.
Good weekends all
RC
Jayblue what!??!!?!!
I live 5 minutes away - how did I not know of this great thing?
Pearls I have you filtered but if you can get me a VIP I will consider unfiltering you (fingers crossed emoji)
oh actually do you know what an emoji is?
In other news I am going to the post office later. Building up to it.
starts? ;)
Yeah think you could well be right there Herdie. Hopefully more and more people start seeing these for what they are.
Looking forward to seeing the Miami impact - bit of background here for those inerested https://cointelegraph.com/news/what-to-expect-from-the-miami-bitcoin-2021-conference
Interesting that Musk's latest tweet has had less effect than previous - about a 10% fall in price of BTC which is now recovering.
The cynic in me thinks he is doing his whale mates a favour but surely not? So difficult to know what is planned and what is random.
Either way it appears that volatility is decreasing in both BTC and ARB (famous last words) and as such IMO we continue to climb back as more news re Institutional adoption of BTC and/or stakes in ARB continue.
In other news I was shocked to see that drwrong was wrong yet again (5 from 5 now I think). Drwrong Marie Curie still await you or are you too much of a cheapskate troll shyster to even make a token charitable donation?