Member Info for the_Chuz

"Bitcoins about to break out.
ARB will follow"

I got up nice and early to watch the breakout, I can only assume thst by breakout you mean fall a few percent.. Which most likely means argo will also fall today.. I should go back to bed

@Argobull
"Chuz, why only 1 year chart and not 2 years? Doesn't suit your narrative?"

Not at all, I picked a year to make sure it hit the quarters and years bit.. Tbh a year is wayyyy to long in the crypto world.

To be honest would you buy into any company that had a 3,6,9,12 month graph like argo (and other miners for that matter I'm not saying they are unique).

End of the day (figuratively speaking), the market is much more aligned to my thoughts about argo and especially today's RNS.. Basically "meh", it is not the golden bullet, the start of a rerate or basically anything.

"Very disappointing reaction today to this news thought we would be way higher by now"

Its because people buy into thier own nonsense on here..

It's hashrate that moves these miners (second to btc price of course) , like it or not, the quarters and years line doesn't wash well with the market.

If you read all the "positive" stuff over the last year on these boards you'd think that argo was absolutely amazing, but pull up the 1 year chart that will give you the reality of how it's performed not all the nonsense on these boards.

From a recent core rns

"We believe that we are well positioned to achieve 40 to 42 EH/s of total hashrate by year end 2022, distributed approximately evenly between our self-mining and hosting segments. Demand for our hosting capacity remains strong and continues to exceed our available supply. Our construction and power team is on pace to achieve 1.2 to 1.3 GW of operating infrastructure by year end to continue expanding our hosting and self-mining capacity,” Mr. Levitt added."

Makea us look a bit pathetic but more importantly, why didn't core just keep the more expensive and more efficient S19j Pros and plug them in to there ever growing capacity whilst charging argo hosting fees.

It seems mad that a hosting company like core with a target 1.2gw of power (enough for time travel I believe) cannot find space to host a few more machines for themselves.

All seems quite odd.

@jayblu

"
it doesn't say they have swapped old machines for the same amount of new machines same amount of machines, it says swapped for similar hash"

Actually yes that is a very good point which I havn't considered.

Originally its around 10,084 s19s for now 9670 S19j Pros so 5% reduction in qty of machines.

So a new 19j Pro is equal to - 5% of a used s19 + hassle.

Too level figures I've looked at is around 6k for a new s19 and 10k for a s19j Pro (Internet figures so who knows for sure).

So 10,084 brand new s19s are 60.5 million and 9670 new S19j Pros are around 96 million

That's a 35 million difference.. That's a hell of a lot of money difference in lieu of "hassle".

@Argobull
"No it wouldn't, it's hash for hash."

I don't want to keep going round it as it will just consume the board today but in my view it's not hash for hash.

It's swapping out old used tech that runs at 95th and 3250 Watts for brand new tech that runs at 100th and 3050 Watts.

Thinking of it a differnt way just so I can try and get across what I'm on about... Does a used s19 cost the same as a band news S19j Pro? There will be a significant price difference, why would core scientific just suck up that price difference for us. They are going to keep our used s19s and give us a higher hash rate, lower power use bunch of S19j Pros for free? Why

@Argobull

"Chuz - don't be silly a swap is a swap. There's no indication of a fee for this. It's a win win for both parties. "

If that is the case then it's a stroke of genius by PW. Swapping out old s19s for S19j Pros for free regardless of where they are hosted. To use my car analogy it's like me swapping my old car for a new one for free.

Of course I don't believe that for one minute as it would be crazy on behalf of core scientific. I think it will end up in the same bucket as "we will list in nasdaq at +30% to the then share price so around 2 quid". I don't want to sou d offensive but there are a complete bunch of crackpot here who are so blinded with what they want to have happen, they then start shouting troll and boatman to the few sane people.

I don't like the idea of s17's going into Helios because itwill do little to boost the hashrate. Lowering the cost base is great but that's not what everyone was wetting themselves over with the heilos facility.. It was around the massive increase in hashrate we would get from a new 200mw facility. If its filled full of old existing machines then what was the point other than spending 80 million to lower the cost base a bit.

The board has turned into utter madness.. People are shouting about how amazing it all is whilst the market looks at it and goes "meh". If today's RNS was a simple swap of old for new at no cost then surely the SP would of shot up.

@MacF1

"This guy (Chuz) once filtered me because he thought I was being too negative and was a troll."

When was that? As a rule I don't filter people on here.

@argobull

"Chuz, the 17 series are next and then you get to admit you are wrong - start preparing."

Ive said if/when they do that I sell up completely, because if that's the strategy then it's best to just get out as the company will exist to basically just pay its staff.

"This RNS is great news.

Swopping S19 machines for brand new S19Js without any downtime at all = AMAZING!!"

Sheesh, how much is it costing though.. Its not going to be a straight swap, the RNS gives that impression but it can't be that way.

Talk of how amazing it is and how we will now see a rerate is bonkers, but so be it, I've said my bit.

Ive just agreed to swap my old bmw for a new tesla.. Wohoo what a great deal I've done. I'm just going to swap it and they will deliver it so I don't have any downtime... And the bit of info that's missing is... I also have to pay 70 grand too to do the swap. Is it still such an amazing deal?

Funding, funding, funding.

@bluebay

"go on, even you can concede just a tiny bit that it's a good business move ;-)"

Honestly, it depends on how much it costs us to do a "swap". If it's not 10's of millions of dollars then I fully accept its a good move., but if its costing us 30+ million then no I don't think it is as the money could of been better used.

Get the share price up then do the dilution for what we need for a flagship facility.

It's always the details that are missing which lead to conjecture.

@limpalong
"Chuz - “…….where as alot think its slow and steady, quarters and years.” including the CEO who couldn’t be any clearer in that. The sooner you accept that, the sooner you’ll be able to relax."

Look at the 1 year graph on this lse board.. You then have a year and a whole bunch of quarters.. Tell me what you think to the graph.

From 250p all the way down to 60p, if someone just shows you that graph without any other knowledge would you think it's a good company strategy that is being used.

Seriously look at the graph and remember btc hit a all time high during that.

@limpalong

"Nice shed.” - - Chuz, you just can’t help it can you, so fast to try and find a negative in anything that comes out. You even have to post amendments to your own posts you’re in such a rush to bash this! Regular RNSs and updates coming now, just relax!"

I always correct my posts when I spot an error, which does happen because things arnt always as clear cut, such as the qty of machines being swapped, power usage and output.

Simple question, how much will the swap cost us or is it for free?

If it costs us 4000 per machine price difference then that's 4000*9670 which funnily enough equals around 38 million.

Then it's not a wave the flag type scenario as we could of bought around another 4000 machines and increased our company hashrate..

The difference is, I still think its a race, where as alot think its slow and steady, quarters and years.

@moneyman

"Your one of these guys that wins the lottery and says I only won 10m I wanted 20m."

Whats the savings on electricity.. Between 17k and 50k per year.. OK that's good.. We do spend lots more on swimming pools.

Whats the increase in hashrate.. About 48th or around 500 extra machine equivilant.. Also good, we are getting more for less.. I am happy with that.

How much is the fleet swap going to cost, if its for free bit cause core scientific really like us then fantastic it's a winner, somehow I doubt that very much though.

How much has the 200mw increased the argo hashrate by.. So far it will be 48k th (+20k s19s on order to also be paid for).

So the projections that everyone is coming up with about 200mw of power I. E. 60,000 new machines and an increase in hashrate by around 6eh is a bit flawed isn't it if so far we are using existing machines.

Lower cost for more hashrate is obviously good, I just want to know how much this "swap" is going to cost, do you have an answer? If not it just more that goes on the "funding" list. It could be what the new loan is for?

Again, we just don't know.. Its never clear.

Perfect, just what I wanted. Go Argo!

Thought you wanted the st17s?

The positive is
S19 v s19 proj

200 watt efficiency saving per machine with and increase of 5 th each which is good.

For the record I'm not saying it's a bad thing to do.

I'm going to do the maths and see how many machines are being swapped etc.

My burning question though as always.. How much is this going to cost or are core scientific just giving us loads of upgraded and more expensive machines for free because they. Are. Stoked too.

Sorry.. Correction... It will increase hash rate by a very small amount with the swap for S19j Pro.

Ahh a fleet swap atleast it's s19s and not burnt out t17s..so now everyone needs to redo thier calcs.. The 200mw facility so far won't increase hash rate, lower costs its obviously good but the market looks for hash rate.

We have the 20k s19s on order (still to be paid for) and no other increase in hashrate.. Nice shed.

@Argobull

"Tell you what - if they move the 17 series machines from Quebec to Texas, which I think they will do, will you admit on here that you were wrong and Argobull was right?"

I will fully admit you were right in them moving machines. But you also get a double whammy, if they move some crapped out s17 into Helios and have that as the game plan I will also sell my holding and never look back whilst leaving you all in peace on here with a bunch of have burnt out s17s and a collapsed share price :)

"No pleasing some. This is excellent news in my humble opinion. I can't believe this RNS hasn't affected the sp. Maybe it needs time to sink in."

Just different views is all..

The downside with loans (which I also prefer btw) is the debt burden going forwards, it's a few million in interest a year which needs to be paid for without touching capital repayment.

If it was 26 million being spent on machines then that's completely different in my view but it's not it's just some stuff either like the transformers or something else that is needed to hit 20)me again no one knows for sure due to Argo transparency.

I'm sure there will be a non legally binding video though that explains it with a good bit of spin

"Yes you will be as you've been desperate for dilution but it hasn't happened."

Umm I'm not desperate for anything, I have a relatively small holding here down from being 100% invested for a long time.

I could of bought within the 50's several times recently. I'm not desperate for dilution, not desperate for anything. As I have said a million times, I am waiting for the news on how we will fund the hundreds of millions of dollars needed to kit out Helios with decent machines.

I think it will be via dilution , if not then I still buy in bigger when it's announced.

I am actually quite indifferent to the share price nowadays , my holding is much smaller, just to keep some skin in the game.

It's the ultra positives who are desperate and are blinded by Thier desperation .. move some machines about to fill Helios and that's it full 200mw being used.. just daft but it seems that's what some on here are preaching.. this ultra positive where have been constantly wrong about pretty much everything a