Argo is a hopelessly loss-making and cash burning business. BTC needs to break something like $110k just for Argo to breakeven (never mind make a profit).
They are running low on cash and may not even have enough to pay the coupon on the bond that's due at the end of this month. That bond trades at 39% of par:
which indicates significant financial distress.
On top of that the lease on their Helios facility expires at the end of December and the last accounts explicitly warn that they may not be a going concern as they may not be able to agree a commercial rent with the landlord.
It could easily be game over by Christmas and a complete zero.
The Q3 results are due next week and should confirm what a mess they're in.
JakNife |
We should be moving much higher on a new btc dollar high, new highs just go higher.
A move through $80k and surely a serious revalue must be possibly on the cards.
We shall see.
dyor |
BTC wanders through 76k |
BTC wanders through 76k |
Could see $80,000+ this week IMO...depends on how much profit taking could arise |
Think BTC will be through $100k this year, Trump was a crypto bull convert from what I read during campaign, if he follows through on that, demand could sky rocket. DYOR but am in ARB for that rise, GLA and DYOR as ever. |
Hopefully Mr Musk and Trump will get dollar BTC through 100k. Dyor |
Interesting new all time high for dollar bitcoin.
dyor |
BTC saunters through 74k |
BTC saunters through 74k |
Talk of bitcoin going to 200k.
Also talk of it going to 20k.
Also talk of it disappearing in a puff of smoke.
Meanwhile all the blogs and all the posts give social media sites another bit of revenue for just provoking people into responding.
I guess very few have heard about Pavlog’s dogs. |
So should only have a market cap of 4x Argo or Argo should have a market cap of /4 WULF? |
WULF are knocking out around 150 BTC a month………………. |
WULF has a valuation of 2bn and has 0 HODL |
With sales of £3m UP c30%
No death spiral here. |
From today's monthly update......"Argo Blockchain plc, a global leader in cryptocurrency mining"......really?They now have 2 bitcoin to show for all their efforts. |
Support at $40k then $25k...but that's unlikely before Feb '25. |
talk of bitcoin going to 50k ? |
Three fifths of LSE stocks are illiquid and therefore only good for paltry margin trades by MMs.
ARG only just sneaks into that bracket and therefore does not constitute a "market" as such.
Like a huge number of other stocks the stock-price is meaningless at quantity. |
Their mining fleet old and rusty too. |
I have long ago given up trying to rationalise why the market is so frequently wrong, it simply is what it is! |
JakNife - and yet the markets still think 9p is fair value.
Seven months ago chung was predicting a "death spiral" at 11p [from memory] and yet here we are, down but far from out.
I still don't hold ..... Looking the now.
My loose thinking and certainly not a prediction.on the BTC price and the knock-on for the miners.
UP if Trump wins
DOWN if Harris wins
Mmmmmmm !! |
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