Looking ahead what's going to be more lucrative bitcoin or the computational power required for AI and big data this is why they are moving into HPC and so are Galaxy.
RNS 07/11/2024 - "Galaxy has today also announced a non-binding term sheet to host HPC at its Helios facility utilising the space and power currently dedicated to cryptoasset mining. The Company is considering its options for its mining fleet, which stands at 23,000 S19j Pros, hosted at the Helios facility." |
If you read the accounts you will find a line that says $40m bonds.
Those bonds trade at c. 36% of par.
36% of par indicates significant “financial distress”. |
john henry - "Debt will drive this company into administration."
What debt is this? They cleared the main secured debt with Galaxy.
RNS 11/08/2024 - "Full Repayment of $35 Million Galaxy Loan
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to announce that it has fully repaid the remaining balance of the original loan extended by Galaxy Digital Holdings, Ltd. ("Galaxy") (TSX: GLXY) on 28 December 2022. Repayments of the $35 million loan began in May 2023. The loan balance as at June 30, 2024 was approximately $5.7 million.
This Galaxy debt was repaid over four months ahead of the current schedule, and nearly 18 months ahead of the original repayment schedule. The early repayment reflects the Company's focus on strengthening its balance sheet and reducing its financial liabilities." |
They are not going to stop mining it. The Investor Meeting suggests they will be looking for another host assuming Galaxy does terminate the contract. The Galaxy decision not to accommodate Helios was made before the recent rally in bitcoin. Under the new administration the regulatory environment for bitcoin is more favourable. |
Debt will drive this company into administration.
Valued at £55M crazy |
It is sadly amusing how this company has fallen like a stone
And as Bitcoin is on a rip will now stop mining it ??? |
Bitcoin hitting $95 k should be good for ARB |
RNS 20/11/2024 - "It is positive that we have seen improvement in BTC mining economics in October, as noted in our October Operations Update, and that this has continued into November which has also been strong"
The stock is oversold and with Trump and Musk being strong supporters of digital currencies and AI this could be a recovery play. |
Think the problem here is their holdings and capacity reductions with the contract with the data centre?
I haven’t paid lots of attention tbh, so please do correct me if I’m missing a buy opp
D |
BTC saunters through 94k |
BTC saunters through 94k |
"its all about the bitcoins that we hold"
As at 31 October 2024, the Company held two BTC equivalent. |
its all about the bitcoins that we hold
when we hold 1000 coins imagine where this will be |
ARGO bitcoins will be worth 100's of billions one day |
time to load up as bitcoin going to 1m per coin
ARGO was 300p now its 8p |
Nervousness ahead of tomorrow's Q3 update. If they can find another host for their bitcoin mining operations this could be a recovery play given the new US administration's commitment to digital currencies and rising bitcoin prices. |
S
I have traded this as I did at boohoo. |
i bought 20 BTC at $187 each in early 2015
will wait for them to be worth 1 million each before selling |
Go to a BTC thread then. |
Dollar btc going bonkers again, is is such a disaster arb are not
in a decent position we would be in the pounds if so.
dyor |
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