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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
|
|
|---|---|---|---|---|
| 0.50 | 4.35% | 12.00 | 15:11:29 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 11.50 | 11.50 | 12.00 | 12.00 | 11.50 |
| Industry Sector |
|---|
| SOFTWARE & COMPUTER SERVICES |
| Top Posts |
|---|
Posted at 22/7/2024 18:34 by 1knocker Nastassja, QBT and ARB are not remotely similar, and nor are their respective investment cases. ARB is a crypto miner, and QBT is an R&D outfit trying to develop computing methods to increase crypto ming speed and efficiency. It is always 'just on the verge of success', has raised and burned large amounts of capital, and has yet to generate any revenue let alone a profit.I have posted my views on QBT on the QBT boards. The 'Sharetalk' QBT board is dangerous. Every post which is not hyper bullish about QBT's prospects is suppressed by the moderator, Sharetalk. There are a number of posters on boih ADVFN QBT boards who have bought QBT at anything up to 4X its current price and are desperate to talk it up. You will see plenty of '100 bagger' predictions. My view is that QBT is a sucker stock, though with good timing and a bit of luck it can be traded for a modest profit though its ever repeating cycles of hype and disappointment - provided that you do not get caught the wrong side of of one of its regular deeply discounted, share issues to raise more capital! It is not, in my opinion, an investment, and for gamblers who like to back outsiders the gee gees have it over QBT since a bet on a horse race provides some fun even if [when] your 3 legged horse , which is more than can be said for a punt on QBT. As for ARB, be sure to scroll bak and appreciate that the investment case now is totally different from the investment case when it rocketed (and fell to earth). That had little to do with the prospects for the price of BTC. If you will forgive me saying so, in that you ask 'why not buy both BTC and ARB ?', it looks to me as though you have a deal of research to do before chancing your hard earned moolah on either - and especially QBT !! |
Posted at 20/7/2024 22:15 by zydecoco 1knocker's posts are worth reading here Nastassja, as they are balanced and founded in logic and reason.I think that if ARB does rise it will not be the same dramatic percentage increase as last time, primarily due to ARB was not mining before the rise and so its core business activity transformatively changed then. I hold ARB, but know many would disagree with my position, as it is now a "Recovery Play" and I believe will rise as the current BTC cycle matures in the coming months. My key learning to share, so far is any peak in any miner will end before the BTC peak. ("front run" it). I held too much ARB for too long last time, but still made a very good gain, and will sell earlier in the anticipated BTC cycle this time. The American miners are certainly worth looking at, however I know not everyone wants to buy US stocks for many reasons (exchange rate costs, trading hours lag versus the UK, etc). Miners command a premium over BTC but are definitely more volatile. Like you I have an amount of BTC too and see owning the asset itself as more direct and certain and so have balanced in that direction over miners. Note: I also added a lot of MSTR, Microstrategy (again a US stock) which has a maximalist approach to BTC and, in my view, positives you may wish to explore. As for QBT, I am not a fan, but others may wish to persuade you otherwise here. Ensure you get some facts of corse. Hope this helps and good luck. |
Posted at 19/7/2024 07:43 by broomrigg Coco the Clown is down 95% or more here. He bought ARB when the shares were 2 quid plus and was predicting they would go to the moon .....yet now he claims he sold and made loadsamoney? Nope he hung on the whole way down and now spends every day staring at the bitcoin price hoping for a miracle. Even those who paid top price for QBT are not down 95%.News from QBT on deals with miners can drop at any time.... SELL ARB and BUY QBT. |
Posted at 18/7/2024 16:50 by zydecoco I know you'd like to think that Broom, however as we've been though many times before I am well in profit on ARB, including for my most recent add this year which I posted.Unfortunately though, as has been repeatedly posted on the QBT board, your QBT holding is massively underwater. I was not going to raise that here, but it would explain why you, and your fellow QBT bulls, are so desperate to post here to implore people switch out of ARB into QBT in the hope it will support the diving share price Anyone with any sense at all will not be buying QBT as it has no products, and instead has a perfect track record of peddling methods, concepts etc. which are never proven and will not be either. |
Posted at 12/7/2024 10:39 by 1knocker Broomstick,I am not an ARB bull, but at least it has a business which turns a gross profit. By contrast QBT is loss making, and indeed has never turned a gross profit in its entire 23 year history of failed ventures ranging from holiday parks to computing.ARB is at least under new management and paying down debt and trying to put its balance sheet in order. QBT remains under the management of the aging 'visionary' who took it down its present path and remains committed to burning cash chasing his pet rainbow, plaintively and repetitively reporting 'it is proving more difficult and taking longer than we expected'. Unsurprisingly, poor though ARB's share price performance has been YTD, it is nothing like as bad as QBT's. |
Posted at 07/6/2024 09:39 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 07/6/2024 08:33 by idriveajag Sharetalk I agree.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. Arb share price should recover rapidly. |
Posted at 01/5/2024 10:49 by 1knocker porky, there are posters (including me) who have many times explained in detail why ARB is a high risk low reward play. You do not need to hear it from Ken Chung to understand the negative case on ARB.As I say, the bear case is well documented here. What I don't find posted, here or anywhere else, is a convincing bull case. All the miners are an indirect bet on BTC, with trading and operational risk which is avoided by buying BTC. ARB is pure trading and operational risk, because it holds no significant quantity of BTC. The risk is high because ARB has a weak balance sheet, is loss making and is running out of runway. The reward is low, because even if BTC goes vertical, ARB has few BTC to appreciate in value. Thus, even if you want exposure to BTC through the mining sector, how is ARB the best way to do so? As I see it, the only (small) advantage it has (for us) over the other miners is that it is sterling investment, saving FX costs on buying and selling.. What is the bull response t that ? |
Posted at 28/4/2024 21:21 by 1knocker I am out of ARB, and have ben saying for some time that it is un-investable. As I read them, the results give chapter and verse for my reasoning.I have yet to see a convincing case for investing in ARB, even if the mining sector is a good bet. On any metric yu look at, it is the runt of the litter. I don't see that the opportunity to buy in sterling, saving FX costs and cutting out potential exchange rate risks ( and potential rewards) begins to make ARB the go to miner, even for sterling investors. For those who favour the minig sector because of their BTC holdings (1) ARB has almost none and (2) if you want exposure to BTC, buy BTC, not a miner. |
Posted at 28/4/2024 14:32 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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