Member Info for the_Chuz

"This is being priced to fail now."

Unfortunatly I think it failed as soon as we sold Helios.

97. 7 mil of the 500 mil used, 400 mil worth left to issue as they see fit.

158 mil cash in hand

55 mil loss for first quarter (mostly depreciation)

12 mil expenses for first quarter

26mil generated for the quarter after mining cost but before administrative & project costs.

That was from 31 march.. We are now over 2 months down the line from that.

Maybe we are misunderstanding eachorher, I am not saying that riot is likely to go bust or its a bad company, I've been heavily invested in it for some time but at some point in the next couple of months I believe they will need to issue more shares (via atm) or take on debt.

Logically I would go for the share issue, miners cannot stand still. The income is (mostly) from btc which ideally won't be sold, so cash on hand will be used but 100ish mil isn't going to go far in this race.

Urrghh that's a big rug pull down bow 26k now, will we finally see that 25k that people have 'dark clouding' about..

If so, so be it, let's get it done so we can break that daft 27k

"Am I missing something?"

Its about cash flow, it's either raise equity, debt, sell btc to get cash, mouths need feeding and they are big mouths to feed too.. Unless RIOT do somethibg differnt they will run out of cash in months, nothing to be concerned about, all quite normal, just might me a a dilution.

Well, I had the choice of buying more MARA or more RIOT and I've picked MARA purely on sentiment and not core belief.

I reckon riot has another month or so before trying to raise some money (so they have 6 months cash burn left), but if people are getting squeaky bums and moving money then sometimes it's better to not swim against the tide.

My money is on Mara correcting, it does seem low, I was actually goi g to divest some RIOT into MARA for that reason... Something does seem out of balance.. I think MARA has recently done it's capital raise and I'm not sure RIOT has done it's fund raising recently so it could be a dilution on its way, I would like to think that the BOD would have more sense than to telegraph it so blatantly if that is the case

I'm not sure of the long longevity of the miners in general though, I'm talking beyond the halving, if btc remains subdued then I can't see the income stream properly to warrant the huge expense of it all.

I am thinking that some of the data centers will convert to AI processing but I can't see the demand being THAT big.

45k btc and I hang up my boots and look for more fundamental based stock.

Also look at the directors share holdings.. I think it's more riot gives out director shares like they are buscuits

https://www.gurufocus.com/stock/RIOT/insider

The CEO sell is only 1.4% of his holdings, hardly a panic move.

Look at director Lance's holding, he doesn't like holding riot shares and sells them whenever he can.. It looks like Sept 22 he had 13k shares, now he's up to 69k shares..

Looks to me like they've all had some performance shares that are being flogged off, most likely for tax.

Are you sure it's not related to performance issued shares for smashing EBITDA targets that are auto selling to cover tax?

It would be nice to get some clarity on it though as its a bit if a dark cloud that will create a sell off.

It's possible we will see a big btc rug pull, I've seen it before where the miners appeared to lead btc direction.

Could just be noise and froth though, RIOT can go up 8% for no particular reason so stands to reason it can go down 8% for no particular reason too

i know there's a discussion to be had about riot v mara but i see it quite simplistically...

i hold riot over mara because:

i like that riot has little debt and owns it's buildings and infrastructure, it is branching out a bit from pure mining and is having a go at a bit of vertical integration which in itself can be a profitable venture.

i know there are distinct differences but i see mara more like micro strategy and tbh i would buy microstrategy over mara if i wanted that sort of play.

it's horses for co****s but i like that riot own some "stuff"

"This equates to 1,796 days left before all the Bitcoins are gone

1,796 days = 4.9 years"

Doh!

Please do atleast a small bit of research on bitcoin and what it is, in particular look up "btc halving"

"Argo sp getting worse"

Following btc but to be honest it doesn't have any unique reasons to buy into the company.

Look at the balance sheet comparison especially for assets.

That's a good solid days performance from Argo..

In all seriousness, does argo have anything left to offer other than a slow death?

I think we really need to see a change in strategy, a change into what I don't know but if I'd doesn't have captial to stand it's ground it will just get squeazed out..

"I can see argo growing slowly from here, adding little hash as they go along and keep mining. There sp will keep rising slowly, once they get to around maybe 40p, they might try a raise and grow larger."

I actually see it the opposite I think they will slowly die.

If they don't keep adding hashrate the difficulty in reade will mean they get less and less each month... Its a bit of a daft game tbh.. In the end there can be only one just like highlander

Basically they blew it, they had a shot at greatness but messed up and are now out of the race, it happens. A slow painful decline awaits as the other miners increase the network hashrate and Argo won't be able to keep up.

Unless of course someone can realign the strategy to it's current position and flip business model in some fashion.

"wow btc on some kind of sonic boom rip. it was 27200 just 24 hours ago."

Btc does what btc does, it's why I wasn't too bothered about it falling through the 27.5-28k support zone and after I was back in at 28. 5 ish.

If you don't catch the falling knife it turns so fast that you can't catch the rocket.

"I don’t know how you fix Argo, especially after the halving."

I reckon they will have to change stretefy / business model, maybe a qbt type reversal and Argo can get to flipping some burgers from a burger van.

The only option I see is a significant dilution to raise capital to buy machines and get them hosted at Helios. It really doesn't have a lot going for it, the management, team is poor, the assets are poor and it's prospects are poor when considering the general landscape and competitors.

Just to stand still argo will need to invest heavily. They had a shot and they blew it, it will probably delist from nasdaq and be a lse AIM share.

Alot of folk don't get paid at beginning or end of the month, some are 15th, 20th or anywhere in between.

"The 28250 level some people were talking about has been smashed - so how low does it go? I've heard 25 mentioned a few times - guess we'll see what happens."

Yea 27.5 - 28. 2k was an expected support level, it fell straight through with relative weakness which is surprising consider g the consolidation that happened for 3 weeks or so, final destination 25k but with a few stops along the way. I'm still expecting a turn around as 28k went too readily. Unless it's all just been a orchisteated long play rug pull, in that case nine of it means a thing ha