RE: Booooom27 Jun 2025 08:21
Warrie said "they are mining their own BTC at a cost of $70k per coin."
Very good point! This makes the Net Asset Value per share even worse. Let's recalculate, taking into account the cost of mining the bitcoin:
Total bitcoin = 65
Total bitcoin value = £5.35m
Total bitcoin cost = £3.5m
Total profit = £1.85
Total shares = 280m
Profit per share = £1.85m / 280m = 0.66p
Share price = 29
Share price is 44 times higher than the profits per share.
With those figures, I think gambling is a better word than investing!