Argo Blockchain Share Discussion Threads

[totana] 09/9/2020 09:17

Cash and BTC held almost £3 million.

[bandflex] 09/9/2020 08:24

Pre tax profits of £0.5m half that of H1 2019 at £1m even though they had over 3 times as many machines in 2020 H1 (17000 as opposed to 5000), and 3 times the revenue.


Cash at june 30th £1.3m, cash Sept 1st £1.22m, so cash is being spent as it is generated, no divi any time soon.

facility charges and electricity costs amounted to GBP6.79m, with difficulty rate at all time high thats only going to increase in H2.

Monthly revenue in H2 has been lower than H1 so far even with a higher average bitcoin price due to halving and increased difficulty rate. H1 result does not bode well for H2.

[orm5] 09/9/2020 07:47

In addition, mining was somewhat further impacted by the well-known quality issues with the Bitmain T17 miners which were installed during the period, which has affected machine uptime and overall efficiency. Argo is in discussions with Bitmain and our host to address the impacts of this situation.Well known ??

[parsons4] 09/9/2020 07:36

It seems that they have increased the cash/stock of BTC by £700k in the last 2 months. Also Directors remuneration seems reasonable. Overall a good report IMHO

[purplepelmets] 09/9/2020 07:20

shtunning shet of reshultsh

[gspanner] 09/9/2020 07:19

Great set of results, achieved with a significantly lower bac price), will no doubt be met with the usual fall at the open or shortly after!

[matheus7777] 09/9/2020 07:18

Good solid update RNS, minor concern about the FD leaving but its to leave the industry to pursue other interests. Apart from that the figures look very good

[amazoner] 08/9/2020 15:46

bear trap. it's an opportunity to top up

[orm5] 08/9/2020 15:46

Given the fall in BTC it would have been back at 3.5 to 4p already

[orm5] 08/9/2020 14:14

Seems to be holding quite well at this price

[orm5] 08/9/2020 08:37

Quite a jump in hash rate, the highest it's ever been. Seems like someone must have brought some new machines online.I wonder what ARB's plans are for expansion? We are only using circa 31MW of the 64MW capacity if I recall correctly

[brasso3] 07/9/2020 22:17

PlanB
@100trillionUSD
#bitcoin difficulty adjustment slightly lower (17.3T) .. but hashrate now 156 Exahashes/sec Rocket

[sideshowbull] 07/9/2020 19:32

Brasso, support is way lower, but I am not sure we will see that op to buy more.

My chart actually looks awful for BTC, never been so happy.

Don't trade BTC no matter how good you think you are.

BWTFDIK

[gspanner] 07/9/2020 16:21

Well my last 100k purchase just now...800k total bring it on!

Sorry I would add since they finally stopped being silly with the spread!

[imnotspartacus] 07/9/2020 16:07

Crypto's taking a battering at the moment...

[orm5] 07/9/2020 13:32

It seems that way and not that far to go with BTC around 10k now.But Zcash was providing most of the margin contribution in August and Zcash has fallen quite a lot from its highs - will hopefully now stabilise for its next move up

[brasso3] 07/9/2020 13:03

BTC needs to touch $9600 before moving up IMO.

[orm5] 07/9/2020 13:01

At current BTC and Zcash prices, I expect we are making circa £11.5k per day

[orm5] 07/9/2020 12:38

So far this is holding up quite well given the fall in Zcash and BTC

[topazfrenzy] 07/9/2020 10:18

ARB is raking in the money, not many companies are doing this during these times

Keep adding, so cheap still

GLA

[purplepelmets] 07/9/2020 00:25

KYC is such BS I had my bank accounts frozen 6 months ago. Lucky have some BTC on exchange been using instead of a cc for things. Turns out hiding for the last 25 yrs in 3rd world tropical islands with no apparent income doesn't look good on paper!