Argo Blockchain Share Discussion Threads

[ragnarr] 27/1/2020 12:38

It was confirmed that Q3 produced 426 coins with a revenue of 3.63m and Q4 produced 432 coins with a revenue of 2.66m. The reason for the lower slowed production and lower revenue was the increased difficulty and lower BTC price.but looking forward Q3 results were from approx 6000 machines in production and it was announced that half way through Q4 this had only increased to 7000. But somewhere between December and 20th Jan this has now increased to 13364 machines online and set to increase throughout this Quarter to 17000 machines.My point being that Q4 results were from 6000 to maybe 8000 machines when they now have almost double that in production

[suffersnofools] 27/1/2020 12:26

Correct.The real value here will become apparent after the halvening when whole swathes of miners are forced to shut down until the price of BTC reflects the increased difficulty. Meanwhile Argo's efficiency will continue to be profitable......

[king suarez] 27/1/2020 11:35

Correct - in accounting terms, revenue must be coins mined in the period, regardless of whether sold or un-sold.

[mnomis] 27/1/2020 11:25

Of course revenue includes unsold coins. They would either have cash (if sold) or a Bitcoin on the balance sheet as an asset - the other side has to be revenue!

[horneblower] 27/1/2020 09:46

Revenue would not include unsold coins. But if they were sticking to their policy, there would not have been significant stocks of coin.
Increased difficulty of mining and the lower price of btc are, presumably, the reasons.

[scrutable] 27/1/2020 09:11

Does Revenue for the year of £8.5m announced today exclude BTC mined but not yet sold?
If BTC mined IS incuded then the Revenue of £8.5m for the FY implies a fall in value for Q4 Revenues, which would be very surprising.: H1 total £2.93m + Q3 £3.63m leaves only £1.94m revenues for Q4.

Am I missing something? Was production value so low?

[topazfrenzy] 27/1/2020 08:58

Annoyingly, I think this will be taken out around 20p this year, around the halving, it's worth much much more of course

[topazfrenzy] 27/1/2020 08:57

Just keep adding, thanks for the cheap shares

[suffersnofools] 27/1/2020 08:41

Yes - as a major holder

[blackrolie00] 27/1/2020 08:37

Mike would still have to notify if he sells any shares?

[topazfrenzy] 27/1/2020 08:28

Mike Edwards had to go thank god, he is a wet

[suffersnofools] 27/1/2020 08:26

He got pushed.Stoneme - I see you're deramping still - although at least you now say you've sold rather than pretending to hold :)No doubt you'll claim to have bought back in if It follows BTC if/when that breaks out to the upside..........

[stoneme] 27/1/2020 08:22

Wow - that's the founder gone . . How strangeIf this really is the best thing in the listed mining space, and on the cusp of a huge return for shareholders, why would he step down now? Surely he would wait for the next 6-12 months. Pleased I am out. Good luck guys.

[topazfrenzy] 27/1/2020 08:20

Giant move upwards is now very close for Bitcoin

Most price action for Bitcoin happens in 10 days per year, miss those and you miss the big gains

[suffersnofools] 27/1/2020 07:30

Should see a bright start to the week with machine installs ahead of schedule and BTC holding above the 21 MA. 9100 still the key resistance to break above imo.Then looking at the monthly chart - a break above 11500 and a new ATH should arrive quickly......

[scottman72] 26/1/2020 18:26

8600 about to break?

[hootza616] 24/1/2020 17:12

My mistake. Wrong board!

[scottman72] 24/1/2020 16:08

Why not???

[hootza616] 24/1/2020 15:34

Share price movement alongside the reported trades makes no sense today!

[riddlerone] 23/1/2020 17:55

Looks like its Tea leaves time again!!!

[hootza616] 23/1/2020 17:46

Who knows what it will do. When it broke the "key resistance" $9k a week ago it was meant to soar to over $10k, but it didn't. No doubt forecasters will again be talking about the risk of the "key support" of $7k being broken.Last time BTC dipped under $7k it shot up to $9k in a few days!It's a lottery, but I feel bullish into the halvening so my prediction is $13k before May and $20k end 2020.

[horneblower] 23/1/2020 15:39

Can we assume that btc will go back to touch 6,500 again?
That would be my expectation.
The big bull move will come. Just not yet.

[crooky1967] 23/1/2020 09:24

That was quite poor on ARB's part. Increased capacity to me was more relevant, and would have made a better headline, than the increase in revenue.

[orm5] 23/1/2020 08:51

I did - they said they will correct in the next update. I assume when the next batch of machines are installed - hopefully asap

[hootza616] 22/1/2020 18:51

Has anyone informed them of the typo in the RNS?Happy to do so if no one had done already.