Member Info for the_Chuz

@kev

"Anyway, there’s nothing wrong with a placing. You think PW will dilute his £1.32 buys down here? I don’t, but if they do, I’ll be shovelling them in."

I wish I could bookmark posts.

@chopsing

"The Chuz
It’s frightening me that I have such a large sum of money invested in Argo, but that can change with a press of the sell button"

Ive been in the same position but fortunately not here I sold most at 131p (got mocked for that too).

In the past I've lost over 50% of my portfolio and crystalized it. I must admit it was a relief to finally close that position, I don't think that argo is in the same boat though. Its profitable and has expansion plans.. The financing for future development is a big issue for me but the company itself will remain profitable.

We need a decent btc jump again me thinks

Riot has just placed an order for 18,000 s19s at a purchase price of $202 mil, that is putti g each rig at around $11k each which is comparable to maras latest purchase price.

The s19 xc run at 3010 Watts, so if we were to keep up with the Jones' and buy the s19xc then for 200mw we would need around 65k machines.. At 11k each that makes it in the region of $715 million. That kinda makes my original calcs of $240 mil fir the machines look a bit underweight.

Riot has also put 35% deposit down, I've no idea if that is the norm but might help us understand capital requirements for the s19s we have on order..

By some we quick calcs, the new s19xc are around 20% faster and 7% less power than the s19. Not sure hiw argo is going to compete to keep current share of global hashrate percentage.

@Chaebol

"Chuz,

They aren’t allowed out, he’s in Wales……

Keyboards and booze never mix well."

Ahh that explains it.. Well I'm off to fly some kites with the girls and then out tonight... I suppose I should show some level of sympathy.. But nah :)

@Theeduke

Seriously, you can't be hammered again already it's not even 9:30am

Well... There is high volatility expected today but that's a bit much ha

@rory

Yep, I just can't see epic magicing up chips and manufacturing the units within months.

But its OK, we are looking at quarters and years.

"Why anyone would want to just hold through a rise instead of trading through it and then going back to being a long term holder after doesn't make much sense."

Yea I have the same thoughts when I read posters here saying about how they are not bothered about a raise and it will pop back up...

It might not pop back up.. The market cap may increase significantly but with hundreds of millions of more shares in issue theres no guarantee the SP will pop back up.

@flowerpot

"I just can't get past the funds needing to be raised ."

That is my only real issue with argo, there are a bunch of small niggly things but the pressing issue is the raising of capital.

I ca t wait until the funding is public then I can make a better investment decision but to go in big now will just turn me into a bag holder.. I think many pite tial investors are thinking the same hence the share price (pre btc slump)

@HGN

Hahaha that made me chuckle, it's funny cause its true.. Its a game we're in. Onwards and upwards, quarters and years.

HGN

"correct me if i am wrong but did PW not already talk about further dilution and that he would be going back to the shareholders in the blonity video and others?"

Yes, but this time would want to give the discount to shareholders for thier loyalty.

I think I was in Sirus exploration where I had that honour.. Something like.. You can buy 1 share for every 3 owned at the discounted rate.. Which meant we all got diluted but slightly less than if we didn't have the option to buy the discounted share... Basically still rubbish ha.

@k3v

"So, there we go. That’s obviously why we left the $5m with ePic, who have been working with Argo and a manufacturer, to build miners specific to our forthcoming needs.

Brilliant!"

Please don't tell me you've only JUST cottoned on to that?

Loads of posts have intimated the link.. The issue really does remain though.. Unless epic can magic up semiconductors and make them into usable machines in months And give us 60,000 of them for buttons then we Still have to find a few hundred million... And just saying "pluto" doesn't really explain where we will get a few hundred million from.

They tried the senior note thing which I thought was a good approach but out of the 57mil asked for they only achieved 40 mil so undersubscribed on a senior note at over 8%... That's not good for fund raising.. So it's going to be dilution.

HGN

Dont forget some of the other bits :)

Of the previously announced 400 MW expansion of Whinstone, 200 MW of the infrastructure is committed to utilizing immersion-cooling technology in Bitcoin mining. This development covers two of the buildings under construction and is expected to host approximately 46,000 S19 Antminers from Riot’s already-purchased miner fleet.

Riot are going to immerse 46,000 s19s and they expect a 25% in reade in hashrate based on all the trials they have done. 46,000 s19s is about 1.5mw

That's the problem in this game.. If everyone makes the new amazing facilities then everyone just keeps themselves in the same place as before. If no one did it and didn't spend the vast amount of resources doing it then no one. Would have to and they would have the same amount of btc... Its nuts really.

"120 workers on site."
Yea he also said 120 workers on site for a further 60 days, that's another 2 months is it not?

@hexam

"I think this uses about a third of the initial 200mW capacity so plenty more machines and funding required to fill it out (including any outstanding funding needed for these initial machines) but it's a start."

Yes, my assumption is always at the later end of what is announced so some new machines arrive in Q2 (for me that's end of Q2) then some more in Q3 then they need to get it all plugged in and trial immersion without blowing it all up.

Unfortunatly we don't have clarity on costs so we will still need to pay for those 20k machines (minus unknown deposit). 20k machines at 6k? $120 million

@krautyankee

"Plenty of s17 second hand, cheap, immed. Available, and perry can go
go full throttle w with them since they are out of warranty."

Thing is.. They are not cheap enough and we will need about 80,000 of them for 2mw.

Even at $2000 each which would be very hard to find that's still $160 million that needs to be raised, then they all need converting for immersion.

Our best hope is that ePIC provide us an off the shelf immersion rig that we get at a 80% discount which rivals a s19xp and that ePIC can then source enough chips and hardwarw and manufacture 60,000 or so units within a few months.

"Gonna be hard to get helios running in Feb with no rigs."

In Feb they will probay have the structure up but I think it was due fir completion at the end of h2 so more like July for internal work.

And then we need some rigs and then we will have all the fun and games of a self designed immersion system.. And why have we gone down the route if self design... Because its cheaper, so a Cheaoer home brew immersion system designed in house... Can't see anything going wrong there.

At best I think we are looking at the start of q4 maybe.

But that all depends on when we can raise some money and place an order then wait the lead time for machines.. We can be easily waiti g over 6 mo this from order placement whilst mara and riot by all the machines up.

@MoneyMan80
"And I presume your mate the Chuz is on the same agenda as assumed you are constantly finding the negitive points."

Actually no, I don't short, I can't get my longs right, no reason to think I'd get my shorts right either.

You do know though that any "negative" talk on here has zero impact to the share price, if I thought it did even slightly then I would be shamlesly ramping it just to make money but the reality if it is that it has no affect.

The biggest indicator seems to be institutional buying.. When folks get all excited about IIs buying more it usually means the price is going down and when they are selling the price is going up.

Me saying that argo needs to raise funds to pay for machines has about as much effect on the share price as K3V banging on about pluto being our savoir.

@MoneyMan80

"Personally deep down it's very very sad to know that's all they have in life."

Wahh a few assumptions there me thinks ha.

Looks, if it wasn't for the likes of me and chaebol posting you would have nothing to post about yourself as your not really a 'discuss the facts' type of poster, more of a be deregatory about a person type of poster..

I suppose the board needs all sorts it keeps the chat going through theserubbosh btc times just like a messed up dysfunctional family.

@limpalong

"At least you have the decency to admit what you’re here for, brownie point for you."

Well I was on about posting tickover rather than content but the real reason I am here is so I can con erse with such great minds as yourself.. As long as you stay ill always be around to keep you company :-)