Argo Blockchain Share Discussion Threads

[sirrux] 05/11/2020 11:02

Ok, so they are adding 430 p/hash to replace the 85 lost - that was the missing piece in the RNS earlier. Who knows what the Bitcoin price will be in 2021 but the signs are looking good so far.

[dennisbergkamp] 05/11/2020 09:45

Maybe a reduction in the datacentre cost based on the last mining from the sub-standard machines in question ;-)

D

[sirrux] 05/11/2020 09:40

I presume there's lots of talk of the Bitmain S17 issue on industry forums, the impact on Argo is similar to the impact on customers worldwide by the looks of it. It may even be a factor in the rising Bitcoin price, as the RNS did not indicate that they would be replacing the lost capacity (which I would expect them to do) but presumably they have agreed something else once Bitmain sort out their issues.

[uapatel] 05/11/2020 09:14

They are holding 137 coins on the books, up from 126 last month. So about £1.9-2m on current BTC price

[hootza616] 05/11/2020 09:12

On the volume mined with the extreme difficulty and machine issues I think it's acceptable.November will be much easier, but that may bring other miners on board. BTC is a delicate balance which seems to be working perfectly.

[horneblower] 05/11/2020 09:11

...or gaining by selling before the value decreases.

Even though I think BTC is currently rising, I believe their policy of selling production shortly after mining is sensible.

[hootza616] 05/11/2020 09:07

Seems the policy is to sell all BTC mined in the previous month.If they have a 40% margin I would expect 40% to be held in reserve each month with the remainder sold for operating cash.The balance sheet is losing out on the increased value!

[horneblower] 05/11/2020 09:04

ARB tracks BTC pretty closely and BTC, it seems to me is gathering strength.
I can see ARB at 10p before the year is out.

[roger207] 05/11/2020 08:59

Production will tank when some machines are being repaired or replaced.

[bandflex] 05/11/2020 08:57

Difficulty took a nose dive a couple of days ago, based on historical results it will suggest about 165 coins for November.

At the moment difficulty is predicted to fall again in 12 days which if it does happen will see coins mined increase further.

[parsons4] 05/11/2020 08:54

Well, I reduced this morning, the results were not as good as I had hoped. I think I may have to find another investment to buy to get on the rising trend of BTC.

[bandflex] 05/11/2020 08:38

Not much improvement over September. It goes to show the importance of difficulty rate which was at all time high in October, with no new machines difficulty will always determine how many coins are mined no matter the price of bitcoin.

[purplepelmets] 05/11/2020 08:37

Hope the boss at Bitmain bent over so Argo could dispose of the useless antminers properly

[bandflex] 05/11/2020 07:54

...underperforming Bitmain T17 Antminers. As part of the solution agreed with Bitmain, some of these machines have now been retired.

Not a great resolution without compensation.

[brasso3] 05/11/2020 07:49

$14500

Is this the big breakout on the monthly chart?

[fez] 05/11/2020 07:14

Lower than I had hoped - was expecting quite a bit more.

But steady-as-she-goes.

Does anyone know what exactly is 'the Company's asset management strategy.'

They mention this every month in relation to their Bitcoin holding. I have emailed the company for a statement but have had no response.

'At the end of October, the company held 137 BTC in Bitcoin and BTC equivalents, in accordance with the Company's asset management strategy.'

[orm5] 05/11/2020 07:11

October results as expected. 1.2m revenue and 40% margin.Hope we got cash back for the faulty machines or are getting replacements!

[purplepelmets] 05/11/2020 07:07

Argo, the leading cryptocurrency miner based in the UK (LSE:ARB), is pleased to provide the following operational update for October.

During the month of October, Argo mined 126 Bitcoin or Bitcoin Equivalent (BTC) compared to 127 Bitcoin Equivalent in September. This takes the total amount of BTC mined year-to-date to 2,254 BTC.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in October amounted to £1.2 million (September 2020: £1.1 million). Argo generated this income at an average monthly mining margin of approximately 40% for the month of October (September 2020: 37%).

[parob] 05/11/2020 06:56

Bank of England said to be considering a move into negative rates -TelegraphWed, 4 November 2020, 10:41 pm GMThTTps://uk.finance.yahoo.com/news/bank-england-said-considering-move-224143914.html

[imnotspartacus] 05/11/2020 06:51

Not dropping now and that’s all that counts

[kcowe] 05/11/2020 06:32

should be a great day here , break out to 9-10p in the next few days .

[walter walcarpets] 04/11/2020 18:54

Roger207: lol