Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
Thanks @limpalong and @hexam that's how I would interpret that phrase, given its not a statement of company value
Why is there a 'quiet period' and where does the company mention this? Thanks.
From June 3rd RNS -
The Company also announces an update to its 18 January 2021 announcement relating to the expansion of the Company's mining capacity in Q1 and Q2 2021. As previously announced, Argo purchased machines with a total of 540 petahash (PH) from a leading manufacturer. However, as a result of production delays the order was cancelled and Argo has received a full refund. 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.
To meet the balance of the order, Argo has also increased a previous order from a second manufacturer from 70 PH to 80 PH, delivery of which is currently scheduled for July 2021. Combined, the new mining hardware is expected to add approximately 610 PH to Argo's existing operations, bringing the Company's expected total computing power to 1.68 exahash by mid October 2021.
I have seen that Hut and BITF dropped for 5-7 trading days before returning to the pre IPO price. I'm heavily invested here but might sell Canadian miners to top up here again if ARB follows the above pattern. I hope it doesn't but if it does, I'll be ready!
@TheeDuke - great advice and great buying power form you. We've both put our money where out mouths are!
ARB to increase EH by 50% before end of Oct so that should see monthly BTC mined at 300 pcm even before the money from the IPO or Texas are taken into consideration.
The money raised will fund Texas build, plus 3EH of miners plus repay $25m of loan and the other $20m is going towards miners.
To be clear 12% = 1% interest per month vs BTC over the period of the loan.
To me that's not a bad deal and when BTC is the collateral I'm not sure the are many choices amongst lenders.
I read the interest as 12% annual rate ie: 1% per month for the duration of the loan.
I presume the 12% interest rate to Galaxy is an annualised rate, not the interest we will pay. ie. We'll pay 1% interst per month on monies borrowed.
Maybe Galaxy will decide to take a stake in ARB inplaced of the loan repayment. That would be good for both, no?
After years of patiently waiting I rode then both up and they did mr well. Both companies have great market potential, just a question of when... I plan to add more to both once ARB is on the move at £2+
AFC Energy - hydrogen fuel cell company with great partners and imminent(!?) orders.
Is that where Tesla dollar and bettering gets involved!?
Is great that miners in Texas are able to balance the grid by fishing down mining when power is required on the grid by surely we'd want to power miners independently if they're profitable? I see this as part of that strategy but I could easily be wrong!
Don't be fooled by the bid price of 115p, the spread is 8.7%, so they're making it look like a price drop when it still costs 125p to buy.
They want the weak hands to sell up not for people to buy.
The SP on Feb 11 was 126p as per today.
7 days later it was 340p.
ARB as a business is much stronger today - 80% efficency, Hodle, Texas, Pluto etc
BTC and the Lightening Network is much healthier today (more institutional support, China ban, countries involved, regulation maturing, global interest and hodling)
I already hold a ton of ARB, but when the SP blew up I wished I had accumulated more at these prices. I'm now able to do that!
So, thank-you shorters and to those with paperhands, let's compare notes in December! :)
The question is not how many machines does ARB have but rather was mining capacity in online.
The answer is on the website and in the latest (every?) RNS!
1,075 petahash as at 30 June 2021
It would be great if Michael Saylor took a position in ARB just to burn the shorters! After suggesting he loan PW 500m it might just happen...
Great podcasts / youtube content and reassurance from -
What bitcoin did
Robert Breedlove
and of course, the ledgendary George, we're all George, from CryptosRUS
This same logic will one day leave you very much in the black and it'll still be tough to decide if you should sell or not.
This is not a stock for the weak.
Learn about the fundamentals of BTC - why is so important, how it is changing the world and why is a rock solid investment in the long run.
The more you learn about BTC the more assured and interesting the storage becomes.
Otherwise, enjoy the ride, it's character building stuff and when you cash out, you will have earnt that life changing wealth!
This 'small' increase is a driver of sentiment, reassurance, fomo and inexorable growth.
All good thinks before the US market open and the weekend.