Argo Blockchain Share Discussion Threads

[mnomis] 04/6/2020 17:40

Plat - sorry I asked. Was expecting something more than "BTC is cr@p". Last I checked, people were willing to part with nearly 10,000 of the world's reserve currency (the mighty USD) for just 1 (ONE!!!) BTC. Now, which is the failed currency?

Plat back to the filtered list (resting his case after failing to make one).

Good luck with your short (as certainly does not sound like is based on any research, insight or understanding) - guess when you playing with a few hundred quid to earn some drinking money, research is a waste of time.

[bisho4] 04/6/2020 17:19

But it's not, though. If you closed your short now you'd be at a loss :)

[plat hunter] 04/6/2020 17:04

I rest my case, short still strong

[aidenabettin] 04/6/2020 16:55

Plat is the original POW.Proof Of W4nker

[1new guy] 04/6/2020 16:49

I am tired and bored with plat *wat and his nasty rudeness here. It's a board for investors who choose to own shares in this Company. That choice doesn't make comments on here to be from "pumpers". People who wish to share aspects and performance of the business and where necessary, analyse why certain movement takes place or doesn't. All designed to SHARE their interest and at times like now their concerns.

For miserable and dubious gainsayers to join in slagging everybody and everything about the Company is pathetic. No doubt some miserly and weak intellect soaked to the core in a trifling but deep seated need to promote their own schadenfreude and air of un-earnt superiority. Just eff off and come back when or I should say if, ARB has sunk.
Or come back when this share soars, as is more likely and eat some humble pie. Moron.

[bisho4] 04/6/2020 16:46

If the best Plat Hunter can do is slate bitcoin and dismiss making money by generating bitcoin, then his argument can be easily dismissed.

Just have to wait for the seller to be done :)

[mnomis] 04/6/2020 15:28

Plat Hunter - everyone understands how earnings are calculated as explained in the AFs (unfiltered you to read about your shorting prowess). Terminology around margin is more nuanced, but it seems that consensus is that this is a cash margin.

What I cannot get my head around is rationale to be a seller / shorter at these levels? But please do enlighten me as that is what the board is all about - understanding where you may have got something wrong by hearing alternative views (not simply - this is Cr@p, but WHY?)

[mnomis] 04/6/2020 15:24

So, what we are saying is they are effectively earning enough (based on first 5 months) to replace their machines in 3 years time (i.e. cover depreciation and o/head). Assuming machines have 5 years of life / BTC spikes as many expect, will be a better result. Either way, seems cheap to me (but would certainly like to see admin costs lower).

[plat hunter] 04/6/2020 10:24

Amazing that all these pumpers can't agree how earnings are calculated whukst the share price keeps going down.Why is that?

[king suarez] 04/6/2020 09:30

Gross margin is the gross profit margin (inc depreciation - in cost of sales) as per the income statement in the accounts.

Mining margin is the 'cash margin' which excludes depreciation. Like how a traditional miner refers to 'cash costs' or AISC, imo. This will be more akin to the operational cash flow (before CAPEX investment, financing expense/income and/or tax).

[parsons4] 04/6/2020 08:59

Idiot441 I don't agree I have just looked at the financial accounts. Depreciation of £2m is included in cost of sales which is deducted from sales to give the Gross margin.

[idiot441] 03/6/2020 21:34

The other way to look at is:

GROSS mining margin 34% includes infrastructure & power

NET mining margin is cost of sales and includes depreciation

[idiot441] 03/6/2020 21:31

I do not believe cost of sales for accounting purposes is the same as mining margin

[parsons4] 03/6/2020 21:10

In the 2019 accounts they stated that the depreciation charge of £2m was included in cost of sales. Therefore gross profit is after depreciation. Otherwise what does the cost of sales consist of to equal £1.27m for one month ???

[topazfrenzy] 03/6/2020 18:24

I bought back in in the low 4s as I thought it was way too cheap and knowing that Bitcoin will soon start its ascent to $50,000

The update today was good, glad they are now stockpiling some coins

[horneblower] 03/6/2020 17:23

If they have 20,000 mining computers would they be valued new at say £20M and therefore cost £20M/36 = 560k/month depreciation?

[mnomis] 03/6/2020 17:19

In AFS on pg. 7, helpfully state "Trading conditions in the first half were significantly better than in the second half as Argo benefitted from a tripling in
Bitcoin prices to almost $12,000, resulting in a cash mining margin of over 70% in the Q2".
I feel they continue to report "cash mining margin" as "mining margin".

[mnomis] 03/6/2020 17:16

@orm5 - think more likely to be the case yes

[mnomis] 03/6/2020 17:15

@ Blackrollie - re Telegram, no.