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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
|
|
|---|---|---|---|---|
| 0.075 | 2.27% | 3.375 | 08:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.375 | 3.375 | 3.375 | 3.30 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 28/2/2025 09:46 by 1knocker Is anyone here still in ARB?Not many posts these days, and what few there are seem to be broad crypto related rather than ARB specific. |
Posted at 27/1/2025 22:01 by kemche m_night102 Dec '24 - 18:33 - 34665 of 347820 2 0 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 27/1/2025 10:16 by 1knocker Have a look at ARB's RNS today.It is upbeat, but actually records the completion of the burial of the second of the two elements which briefly lifted ARB to the heights - the remaining 'revolutionary' liquid immersion cooled rigs are to be converted to air cooling, having already been removed from 'the state of the art' centre ARB built in Texas. Many of ARB's rigs, factory fresh and still in the unopened boxes in which they were delivered, together with the Texas facility itself were of course disposed of in a fire sale a while back, for a tiny fraction of what they had cost. All very sad. |
Posted at 22/1/2025 18:22 by 1knocker If anyone feels that ARB's days are numbered and the opportunity to lose money on ARB is therefore coming to an end, I see that Mode Global Holdings (suspended in 2023) is now out of suspension, so there are probably more losses to be made there now. For those who 'invest' in sucker stocks, why confine yourselves to ARB when you now buy Mode as well, and have two.For over a year before it was suspended I warned punters to cut their losses and get out of MODE (for much of that time, and subsequently, I was saying the the same about ARB. I sold the last few of my ARB at a bit over 12). The Mode mugz called me troll, loaded my posts with downticks, continued to buy, and had lost about 90% of their money by suspension. I guess they are now happily buying yet more Mode shares to 'average down'. Initially, ARB had a USP. With competent management, and a roll out plan for Texas which was within its financial means (probably a joint venture) ARB could have done very well. In the event, it raised and blew millions, with nothing to show for the money and now looks set to go into insolvent liquidation. A question of 'when' rather than 'if'. Moonshots are risky. Even the promising ones generally fail in the end. In the aggregate, most investors in penny shares and moonshots lose more than they make. As I see it, the name of he game is to buy the rumour and sell the news. Be content to take a modest profit, selling before the market wakes up to the time and cost of commercialising the concept, the company fails to raise the necessary capital, or you are diluted to next to nothing. There are mighty few free lunches. I feel for those who rode ARB all the way to the top, failed to sell and take a damn good profit (or at least to sell enough to take a modest profit and continue with a smaller, free ride, holding) and then rose it down again until they were in loss. As for those who succumbed to FOMO and bought at the top, they have really been skinned. Likewise those who have 'averaged down' - the most sure fire way of multiplying investment losses I know. Example: 100 shares bought at £10, now trading at £5, percentage loss 50%, money loss £500. That holding topped up with 100 more at £6, and the holding is 200, at a cost of £1600, total holding now worth £1000, percentage loss reduced to about 37%, loss in money increased to £600. Every purchase must be regarded as a separate transaction, whether it is a new holding or a top up. The merits (or otherwise) of a purchase are unaltered by whether you have made a prior purchase, or whether your prior purchase was above or below the current buying price. I doubt if many holders would buy ARB if they discovered it now. To my mind it it time, very belatedly, for holders to sell and cut their losses. Something is better than nothing, and there is nothing in the investment rule book which says you have to try to recover your losses in the same stock as the one in which you suffered them. Every holder has to ask himself 'Is the remaining value of my ARB holding more likely to grow in ARB, or in some other investment?' How many can answer 'ARB is the most promising prospect currently available in the market'? |
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 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 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 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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