 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 |
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. |
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. |
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. |
For the benefit of the morons this company is bust though no doubt they are too stupid to realise it. |
Zen and tek are set to fly |
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! |
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 |
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! |
Hic, Happy New Year
Michael Saylor New Years Party:
Michael Saylor’s Bitcoin 100k NYE Party - LIVE w Altcoin Daily
Michael Saylor's 100K Bitcoin New Year's Eve Party
LIVE: MICHAEL SAYLOR'S $100K NYE BITCOIN PARTY
Lil Bubble - Going Up feat. Michael Saylor (From Miami NYE $100k Party)
Michael Saylor比୲5;幣十萬跨ॲ0;世紀派對ᦀ1;Inside Michael Saylor's BTC 100K New Year's Party 中文ENG】 |
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? |
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? |
Owenga, don't forget the state of the art rigs bought and then sold off, unused in their unopenned boxes, for a song. |
Elushi - both Riot and Mara actively buy, never mind Hodl |
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. |
There's barely any miners which HODL anymore |
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 |
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. |
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 |
Bitcoin is on the move and ARBK - ARB is yet to move. |
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