Argo Blockchain Share Discussion Threads

[jaknife] 21/1/2025 00:42

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

[ball deap] 20/1/2025 22:08

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. Thomas Chippas and the rest have bled the company dry for sure but it can't get worse imo, my estimate is their hashrate is near 0.44 EH/s which shows in the current share price Remember the longer they keep them they go out of usable hash rate fast. They need to move fast from here to stay relevant. Expect spikes higher and try and make on the moves.

[ball deap] 20/1/2025 15:54

QTB had multibagged in the last few days. ARB due the same, fair value share price 7.4 , top 12-15 share price The 23619 S19J pros will be online soon and hope for a higher BTC price.

[1knocker] 19/1/2025 11:18

Even well run crypto miners find the going tough without scale and financial muscle.
Take a look at the history of another small miner, Soluna Holdings.

[wiseacre] 15/1/2025 10:22

For the benefit of the morons this company is bust though no doubt they are too stupid to realise it.

[1choip] 14/1/2025 11:12

Zen and tek are set to fly

[one_frankel] 10/1/2025 11:39

Thanks for this my man and to be fair Marty, I haven't taken much interest in cryptos for the last few years so missed out on the inaugural Trump pump but the more I read, im getting rather keen again except its more towards Alt coins than BtC as they seem to have the greatest potential for growth going forward!

[martywidget] 10/1/2025 11:09

One_Frankel, give these channels a watch if you haven't for the last few months...

MMCrypto:


The Moon Show


Carl Runefelt Vlogs (From Cashier to Billionaire)


Regards,

M

[one_frankel] 10/1/2025 10:11

Whilst its risen today, well before the US opens!...EW theory was suggesting a fall into the late 80s after 'Wave C' before any upward momentum is sustainable (whatever the fu_ck that means but maybe good old Tykey can educate the less learned here with EW hey!)

...And like Zyd, I too am accumulating in various Cryptos presently, not so much in BtC but the smaller Alt coins as they invariably have the greatest momentum following a year or so after the halving!

...So check the commercial use cases of the smaller coins if inclined and please stay away from all the junk that currently resides in the crypto sphere!

[martywidget] 10/1/2025 10:10

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[zydecoco] 09/1/2025 13:17

Buying BTC is unlikely to make one poorer, if you are leaving it there for 6 months, or 4 years.Timing the market means more return potentially, but potentially less.Just DCA into BTC over a few weeks?

[1knocker] 09/1/2025 11:29

A fair amount of cash has built up in my accounts as a result of a slew of dividend payments over the last few weeks.I am tempted to buy more BTC. On the face of it the current pull back from $100k looks like a buying opportunity, but long and frequently unhappy experience tells me that when everyone and his dog is uber bullish (as seems to be the case with BTC at present) there is usually a further fall to come!

Maybe the better bet would be to back the prospect of increasing activity in the crypto market generally, and top up my Coinbase Globall holding. It is US listed though, so its recent slight dip in its share price has been offset somewhat by the fall in the £ against the $.

Any thoughts folks?

[1knocker] 08/1/2025 11:45

Owenga, don't forget the state of the art rigs bought and then sold off, unused in their unopenned boxes, for a song.

[niggle] 07/1/2025 13:57

Elushi - both Riot and Mara actively buy, never mind Hodl

[1knocker] 07/1/2025 11:49

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.

[elushi] 07/1/2025 11:35

There's barely any miners which HODL anymore

[jaknife] 07/1/2025 09:33

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

[noirua] 07/1/2025 09:25

As problematic as it may be at least it is confirmed they are seeking a new home for the Galaxy machines. The company needs to see a rise in the Bitcoin price nearer $120,000 to get back ontrack.

[jaknife] 06/1/2025 09:16

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

[noirua] 06/1/2025 08:14

Bitcoin is on the move and ARBK - ARB is yet to move.