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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Argo Blockchain Plc | ARB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 4.505 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 4.505 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 21/1/2025 00:42 by jaknife Ball Deap,"I was speaking to a friend at a broker , he said ARB are sitting on 23619 S19J pros with a used value of approximately $35.4m to $47m , if they don’t put them back in service and sell them. Mcap of 35$m, make you own views." You should dump them as a friend; they can't like you that much if they're giving you such 💩 tips! 1. First and foremost, ARB revalued their BTC miners last year as they were in the accounts at an excessive price. At the interim stage ARB's "Mining and Computer Equipment" was valued at $18.2m, see note 7 to the interims: 2. That aside, the number is totally irrelevant for ordinary shareholders because ARB has $40m of bond debt. And those bonds currently trade at a mere 31% of par: ie the bonds are super super distressed So, even if ARB did manage to sell its BTC miners off at a high price then, after paying $40m to bondholders, there would be a miniscule amount left for shareholders (if anything at all). 3. But it's worse than that, the net balance sheet at the interim stage showed a negative position of -$20.3m and this hadn't changed much after the first placing, which brought net assets to -$19.8m at Q3: So it seems likely that bondholders and creditors are all going to take a bath if ARB were wound up now and there is zero prospect of *any* payment to shareholders! Which does make you wonder if the current directors have taken any advice on trading whilst insolvent ... because they obviously are insolvent! Bearing in mind that, at the current 4.51p share price the market cap is £32.3m, it's easy to see why ARB equity is so massively over-valued and an obvious SELL! JakNife |
Posted at 07/1/2025 11:49 by 1knocker The sad fact is that ARB came up with a visionary scheme which the company lacked the managerial skill and financial resources to carry out.The company raised large sums of equity capital, entered into expensive loan agreements, acquired and started to develop a a state of the art facility in Texas, and bought state of the art rigs. There was then a fire sale in which ARB disposed of the Texas facility, and the rigs (unused and still in their boxes) for a song. Capital destruction on an epic scale, with nothing at all to show for the money spent. ARB is now on the road to nowhere. |
Posted at 07/1/2025 09:33 by jaknife Noirua,"...to get back ontrack." Doesn't that sentence suggest that ARB have, at some time in the past, been "on-track"? When the reality is that ARB has been a hopeless pile of poo for years now, burning cash EVERY year! JakNife |
Posted at 06/1/2025 09:16 by jaknife Noirua,"Bitcoin is on the move and ARBK - ARB is yet to move." Why would it? ARB were evicted from their data centre on 29 Dec so have lost 90% of their BTC generation capacity. As noted in this RNS: JakNife |
Posted at 06/1/2025 08:14 by noirua Bitcoin is on the move and ARBK - ARB is yet to move. |
Posted at 02/12/2024 18:33 by m_night10 ARB I suspect will go to 20-30p from here with BTC holding $90,000 plus.Once $100,000 plus BTC comes then ARB goes ballasitic and 30-50p share price This can be any day now. 2025 BTC will likely see $200,000. ARB share price = £1/100p plus in this scenario. By 2030 BTC $1,000,0000+ ARB share price = £10 plus in this scenario. I see this as a fantastic investment at 6-7p a share. |
Posted at 21/11/2024 18:47 by 1knocker With the price of BTC approaching $100K, ARB debt at a huge discount, and the ordinary share price falling, surely holders (both of debt and equity, but especially of equity) must sell and recover what little they still can.Something is better than nothing, and even if ARB somehow survives there will be next to nothing for the current shareholders. That is how I read the present situation. I sold the last few of mine a while back when I could still get 12p. That said, there are still buyers. Presumably they see something to be had in ARB, but I cannot work out what. |
Posted at 19/9/2024 08:42 by 1knocker JakNife, Yes I understand all that. I acknowledged that imminent collapse has been averted (as it has), but the point of my post was that I see no way from here to prosperity for ARB. That is why I sold the last of my ARB holding and got out - when the share price was over 30% higher than it is now.I remain enthusiastic about BTC (which I continue to hold) but not the crypto miners as an asset class, and certainly not ARB as a member of that class. The stronger miners at least offer opportunities for trading, but ARB is not even on my trading watch list. |
Posted at 07/6/2024 08:39 by jaknife idriveajag,"Arb's average costs per bitcoin mined pre-April 2024 halving was $31k, which implies $62k post halving. So with bitcoin now above $71k and rising, Arb are in a good position." Have you looked at the accounts? In Q1 ARB mined 319 BTC generating $16.8m in revenues. You can find the detail here: This also shows that the "direct costs" of mining BTC in Q1 were $10.4m. After all the other costs, ARB lost $2.8m in Q1. Following the halving, ARB will now generate half the revenue that it did before. That was effectively confirmed this week when the May update reported revenue for May of a mere $2.9m. See: Very roughly $2.9m x 3 means that ARB's revenue for Q2 will be in the ballpark of $9m. It doesn't take much to see that, if all other costs remain unchanged, then ARB will make a a negative mining margin in Q2 of about -$1.4m and should report a loss for Q2 of the order of -$10.6m. So Argo was in a really poor position before the halving and post the halving it's in a disastrously terrible position. I don't actually understand how the director can carry on running the business? If they were to just turn the machines off then they'd make a better profit (ie a smaller loss). JakNife |
Posted at 28/4/2024 13:32 by jaknife Here’s a quick journey through ARB’s finals that were released last week:1. P&L * Revenues are down 14% at $50.6m, the company says ”driven primarily by a significant increase in the global hashrate and associated network difficulty level.” Note that these are for the year ending 31 Dec 2023 and so don’t include the effect of the recent halving from just over a week ago. * Gross profit is $3.8m, noticeably there is little movement in the fair value of crypto assets as ARB no longer hold significant crypto on balance sheet. “Digital assets” at year-end were just $385k, which is significantly lower than the $109.0m that ARB held going into 2022, during which it sold nearly all of its crypto. * ARB highlight the depreciation that makes up the gross profit line ($18.7m), which is a helpful reminder of this non-cash item. * After operating expenses of $19.3m and (non-cash) remuneration paid by shares of $4.0m there’s an operating loss of $19.4m * And then finance charges and other costs bring the P&L to a loss after tax of $35.0m The P&L basically shows a loss-making company further weighed down by the burden of interest. 2. Balance Sheet * The main asset in the balance sheet is property, plant and equipment ($59.7m), cash is down from $20.1m at the start of the year and is now just $7.4m * On the other side loans and bonds total $62.5m of which $14.3m is current (ie due within 12 months of the balance sheet date). Note 25 explains that the “Galaxy loan” is repayable on an amortising schedule. * Net equity has declined from $24.6m to a mere $158k 3. Cash Flow * The business does generate a small amount of cash from its operating activities ($3.8m in 2023) but once you factor in interest at $10.7m and loan repayments of $14.1m it’s cash burn city! And if you half the "Revenue from digital assets" then you can get a glimpse what the cash flow will look like from April 2024 onwards. 4. Conclusion/Forecast ARB wasn’t profitable in 2023 and it will get even worse in 2024 following the recent bit coin halving. If you look at the numbers for 2023 then you could imagine a mildly profitable company *IF* the bonds were converted to equity. However allowing for the bitcoin halving, even if the bonds were converted to equity, then ARB would still make a stonking loss in 2004. And the big thing is that ARB’s bitminers are rapidly becoming inefficient and obsolete but ARB isn’t generating enough cash to replace those bitminers! ARB’s equity is ultimately worthless, the business will never generate adequate cash to provide a return to equity, if it generates any sort of cash then all of that cash is going to go to service the debt. They could look to recapitalise the business by converting the debt to equity, at a price that wipes out current equity, but even then the business isn’t going to generate a profit without a substantial slashing of expenses. Regardless, something needs to happen soon as ARB must be running on fumes! JakNife |
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