Argo Blockchain Share Discussion Threads

[owenga] 25/4/2024 10:17

Wow, direct cost to mine Bitcoin 31k. I thought it was more like 15. After halving it's going to be 62k. So won't be making any gross profit based on current btc price. Company completely under water now.

[broomrigg] 25/4/2024 09:40

ARB numbers (and prospects) are dire. If bitcoin goes much lower it will make better financial sense for them to switch off their machines.A pure gamble.

[zydecoco] 25/4/2024 09:35

GBP 63,000 Buy now showing here

[robo21] 25/4/2024 08:48

Solid set of results

[zydecoco] 25/4/2024 08:32

Better than expected results and outlook today:Q1 Preliminary results:Average direct cost per Bitcoin mined was approximately $31,000.Year results:Adjusted EBITDA of $8.3 million, compared to negative Adjusted EBITDA of $(46.7) million in 2022.(Net loss of $35.0 million, compared to a net loss of $229.0 million in 2022.).

[ken chung] 25/4/2024 07:24

Net loss = £35m, since when the mining reward has halved.Worthless. Lemmings and mushrooms only.

[broomrigg] 25/4/2024 07:11

Awful financial report just released.

[ih_818120] 25/4/2024 01:49

Hahahaha

Arb looking strong, chung my boy.

Time tell all.

[trad3m3] 24/4/2024 18:35

It's all good news, until May's RNS that is... May will reveal all, if BTC not 100k in May then... GLA!

[1knocker] 24/4/2024 16:08

Do companies 'spiral' when they fall off the end of a cash runway? I don't know, but my best guess is that it would be more like a vertical drop than a spiral.

[ih_818120] 23/4/2024 21:05

No sign of the 'death spiral'

So funny chung hahahaha

[ih_818120] 22/4/2024 16:04

Silly wee chung - wrong again.

[ih_818120] 22/4/2024 15:16

Marty,

I didn't know I had given advice ! and if I have please ignore me 100%

I don't know the future

[1choip] 22/4/2024 08:18

massive update on gst

[porky9] 22/4/2024 01:29

@Franco
Very funny :)
Take care

[broomrigg] 21/4/2024 19:04

ARB on a trajectory to go bust at that level? YES.

Bitcoin needs to very quickly find a new trading range with c.100,000 usd being the low end of it for ARB to survive. Not looking good and probably too late.

SELL.

[one_frankel] 21/4/2024 18:06

Ohh no if Porkys here, we're all doomed folks!

[ken chung] 21/4/2024 17:47

Bitcoin only $64,462 and yesterday the mining reward has halved from 6 to 3 bitcoins per winning block.ARB on a trajectory to go bust at that level?Lemmings and mushrooms only.

[porky9] 21/4/2024 10:38

@zydecoco
Thanks for your informed reply. I have not listened to that, I will check it out.

[zydecoco] 21/4/2024 10:20

Porky6, agree with the very poor standard of posting especially from KC and Broom, and a few others.As you allude to: the Electrical costs are the main driver. Currently it does look like omething does have to give, however if BTC hits 100k pre December, which I do think it will, then it will resolve fairly bloodlessly.It always looks open this at this point in the cycle though, it's just now there's more awareness of it in my view.Did you listen to the hour long industry call, which ARB and other main miners participated in, that I posted a link to earlier this week (see Post 34102)? It discusses the miners landscape fairly well.At this point in the cycle it is important to keep an eye on Network Hashrate.

[broomrigg] 21/4/2024 08:49

Bitcoin will still be here when the miners go bust, and they all will down the road (ARB first?).

[porky9] 21/4/2024 05:18

@Ken Chung
I try to read this thread for some open discussion on the future of bitcoin mining and to explore associated electric costs v production but your constant juvenile posts "mushrooms and lemmings, mushroom and lemmings...." its every other post, really make the thread unpleasant to read - pack it f'cking in! Detail your analysis why or don't bother. How old are you 14?

Personally, I have a bearish view on the future of mining in view of the four year halving rule, i also have never liked the influence of whales that can control the bitcoin price. I also think that miners will be forced to dump the bitcoin they have to stay in business due to these high production costs and hence flood the market and potentially depress crypto prices further countering funds buying crypto, ARB now have only 26 bitcoin left in stock from 115 bitcoin a year earlier the casing point.

BUT, that being said i have made bloody amazing returns trading this stock especially during its early 21 bull run and its reflective price today looks cheap to me in relation to where they are at, question is IF they can find a way to mine bitcoin more effectively, would future halving rules change, ultimately everything has a price, if these rules put miners out of business there is no future for crypto full stop so something has to give here.