tenapen,
The results are not just "lower", they are unprofitable. ARB burns c. $1m to $1.5m a month at the moment.
The company is in such a parlous state that its bonds currently trade at just 39.5% of par:
indicating significant financial distress.
BTC needs to get up to over $100k just for ARB to break even. But even then the lease on its Helios facility in Texas expires on 31 Dec this year and Argo have warned (see last accounts) that they may not be able to agree a commercial rent going forward.
It is difficult to find a more obvious complete and utter dog.
JakNife |
Bitcoin has had its halving since 2023 Aug / Sept so yous and chungs comparison is worthless as it is basic knowledge it is harder or longer to mine a BTC. Also the hash price is lower today for all miners, so it's not rocket science to understand the ARB results will be lower and we can see this reflected in today's lower share price.
People with vision only. |
chung isn't that good with facts ....
Quote;
During the month of September, the Company mined 37 Bitcoin ("BTC"), or 1.2 BTC per day consistent with August 2024 |
So on a monthly basis, less bitcoin mined, less revenue and less bitcoin held.Trajectory into administration?Lemmings and mushrooms only. |
still 20% below the 11.25p investor |
bitcoin flying |
bitcoin staying up, go higher soon |
Arb UP
The buyers aren't listening.... !
Must be frustrating !
Nae mind |
bitcoin up 5% |
The BTC price is irrelevant to ARB! They are hopelessly loss-making and need BTC to get to well over $100k just for them to break even! |
bitcoin still looking good |
Tenapen, some ends come with fizzle rather than a bang.
Like Charles II, ARB could apologise for taking 'an unconscionable time a-dying', but what prospect is there that it will take up its bed and walk?
What is there which should cause someone like me who sold out the last of my ARB holding at 12 to get back in now at 9? |
ARB is proving stubborn, Eh !
No death spiral here - hahaha |
bitcoin looks good |
They'll be barking up the wrong tree.
Maximillionaire reckons it's an old avatar on ADVFN. |
HBO documentary airing tonight may reveal identity of Satoshi Nakomoto .Https://www.hbo.com/movies/money-electric-the-bitcoin-mystery |
Presumably the bulls are hoping for a huge and immanent rise in bitcoin.
They may be right, however I cannot see it. The fundamentals for btc have always been weak and the chart does not look bullish. Indeed the falling wedge that began in March suggests a continued decline, or sideways at best, followed by a strong drop back to the $40k area sometime early next year.
Good luck if you hold. |
LOL!
They're losing c. $1 to $1.5m a month in cash and only had $4.0m at the end of June. It's also loaded with $40m of bond debt that trades at just 39% of par:
indicating material financial stress, and they may not have enough cash to pay the coupon that's due at thee end of Nov.
On top of that the lease runs out on Helios on 31 Dec and the accounts explicitly warn that they may not be able to agree a commercial rent to stay there.
It is difficult to find a bigger dog on AIM.
JakNife |
UP it goes
People with vision only. |
Ken Chung 🤡...over on QBT we are still waiting for your revised calculations on the bonds......last time you gave it a try you over-estimated the dilution by a mere 2.8 billion shares.
"Ken Chung - 15 Feb 2024 - 15:13:58 - 3959 of 9355 Quantum Blockchain Technologies Plc - QBT
I made a couple of mistakes, so I've deleted the comments." |
Down it goes.Lemmings and mushrooms only. |
New just out. Less bitcoin mined, less revenue and less bitcoin held.Trajectory into administration?Lemmings and mushrooms only. |
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