Member Info for the_Chuz

"Also, mention of quarters and years, marathon planning to do that by 2023 if you read what was posted"

And if you read what I put you will see I already read the 2023 part AND I also said it might never happen.

@krauty

""it's not what you make; it's what you keep"."

I like that :)

And therein lies the issue.. If the other miners substantially increase thier hashrate with the $600+ of already raised funds then the network difficulty will dramatically increase, if argo do not raise by the equivilant percentage then they will get less btc per month even though they increase hashrate.

Riot have hundreds of millions to spend, they are putting in an immersion facility of s19s and it will be done before argo.

On the immersion side of things argo are using thier own designed immersion system to save costs which will no doubt have issues. Argo just needs to up its game, it is not as transparent as the other miners even though it likes to 'pride' itself on transparency.

Now mara will be buying a massive amount if extra machines but that goes into 2023 and a lot can happen in that time for sure so it might never happen.

Onwards and upwards, quarters and years.

@macf1

"For all we know, they could already have secured thousands of 2nd hand S17s that are reading to go into immersion at Helios."

Thats true it will still cost more than we have though... Maybe 150 million for second hand ones.. I really hope not though as you will have a brand new 'world class' mining facility which is filled full of half burnt out old tech. It would be better than nothing but would still cost a fortune.

@mpeterson

The way I see it.. If we are going to be buying miners for Helios we will need to raise the order relatively soon unless we want to leave Helios empty for a while. There is a pretty big lead time for new rigs and to even place the order we need to put a down payment at the time of placing the order.. The fundraiser will have to come relatively soon.. Or the other option is to not put new rigs in Helios in 2022

"What would that make the entire company and assets worth at 60p? You must be expecting BTC to implode"

A share issue to the tune of 250-300 million would take it to below that.. People seemed to have learnt nothing from this last drop..

I remember the reaction when it was suggested it might go below 140p, 130p 114p 100p.all of which was "impossible" at the time yet here we are.

"Who's up for a flyer."

Just a nice steady increase over days and weeks will do, a nice bit of clam water to take the dingy out on rather than the storms that's been throwing us about.

@flowerpot

Yep he did say, I also don't think he was trying to be misleading, I think he answered it as he thought it was asked. I wouldn't want to be investing in btc related things if it was at 5k with the same difficulty!

"That’s what I heard. But I’m not selling anything, so please feel free to ignore me."

And I heard that we won't be as profitable n 2022..

@bluebay

"Wow, so lightening your load here has resulted in an even larger loss (given then RIOT have fallen faster than ARB?"

Yep, kind of but not that straight forwards, riot has fallen more but it also went up a lot more. I would say I'm actually better off.. Not done the sums though.

@flumpster
"ok fair play similar situation to me hope it comes good for you"

Im still banking on the moonshot :)

@flumpster

"if you considerably lightened your load here why do you constantly post on this board but no others? is arb your only investment?"

Ive not been posting that much recently but to answer your question..

Yes it is my only LSE share, my whole 'portfolio' is argo and riot... Like others Im down 10's of thousands because of it.

A couple of months back argo was the Only share I held in my Isa and my pension fund.. I think I just get bored without the drama.

@hopsta999

"My major concern is that the Bod will not think twice to shaft us with any raise.. look at the placings and more recently the nasdaq listing that destroyed value for us"

Yes it why I lightened my load here quite considerably.

The board can either

Sell btc - typically a big no no with the miners but still wouldn't have enough..not even half the amount.

Raised debt via a loan - I'm not sure the market would take it considering the senior notes at over 8% were not fully subscribed, we would have to put a large proportion of our btc as collateral and have to pay an extortionate rate.. This is jot a good idea for crypto winter.

Do a equity placing - easily the most preferred option by the company, it takes on zero debt, holds onto all of it btc and then is financed for the future. Current PIs get shafted but that's irrelevant as new PIs will buy in after the placing.
The EH will be increased substantially and the share price may well recover quickly.

The board would be foolish to do anything other than a placing, the problem now though is the share price, I was expecting a placing announcement at around 150p which would drop the share price to around today's value.

If it was me, I would announce a loan agreement for $250 mil, place some rig orders (not that they will get them anytime soon) then do a share issue at a higher share price and never actually use the pretend loan.

@flowerpot

I think IK has put a large chunk of his money on the line so now is getting a bit punchy with it to whoever may not tow his line.

I'm still 100% in crypto and I've had my arse handed to me but that's the game we play, some folk have misdirected anger issues though

@InsiderKnowledge

"revenue in November amounted to £8.29 million [$11.20 million*]

mined year-to-date to 1,831 BTC

end of November, Argo added an additional 310 PH/s

end of November, the Company owned 2,317 Bitcoin

Explain for us the problem flowerpot man"

Looks like you are just here to antagonise folk which is a shame, and with that post it shows you don't understand the investment much.

60,000 rigs at $4000 is $240 million to buy new rigs.

1841 btc @ 40k is $73 million so if argo sold every btc it held (not sure 1841 is correct but that's your figure) it won't even nearly scratch the surface.

Argo will have to raise funds either through equity issue or debt if it wants to "own" the 200mw of hashrate.

There are other options like leasing but then the income is less too.

"A range only starts after the second bounce off the top so the 8th and it is not a long time so I think you will agree in any terms you have less patience than a little child. Not arguing with you about this as I can tell you want to so filtering."

Had no intention arguing over it, opinions are allowed to be different especially when it is 'opinion' and on something subjective like if a time frame seems like a long time..

What I was getting at, as anyone can reasonably see, is dont get overly excited about the latest couple of percent rise in btc as we have been here recently a couple of times and it has been knocked back down.

As for filtering at the slightest chance of someone disagreeing... Well... That's just the board and the way it's inhabitants are.

"Seriously? "quite a while? since the 8th of December.. you call that "quite a while"???? less patience than my kid at Christmas!"

4 Dec, so a few weeks of up and down within that range and yes I consider that to be quite a while in crypto terms.

It's all relative, like stand in 1 spot for nearly 3 and a half weeks, I think you'd agree that was" quite a while ".

I wouldn't be calling a recovery just yet this has been in the 45-50 range for quite a while.. We most probably will hit our heads on 50k and back down we go.

We need something different when we are close to 50k to take us to 53k then we can breath a sigh of relief a little bit.

What happened ARBK last half hour? Bitcoin rising but SP took a big knock. Over 47k is nice to see.

All the miners got pummelled again, btc up but all down, that was a big drop towards the end for Arbk though, but odd.. I think they are all being heavily shorted

Bah now I've got a dilemma.. Do I sell some riot (at a loss) to put more in here.. Its now at the price I thought it would go to after the financing is sorted out..

I would expect PW not to do a raise at these prices