Argo Blockchain Share Discussion Threads

[stoneme] 28/8/2019 09:29

Yes. But they based their forecast on the BTC average price at that time, less than £5k. So much of the earlier return is simply due to a higher BTC price. We already know this. How much is due to price, and how much efficiency? No comment.My earlier point , asking why announce now, and not at results remains.

[dafad] 28/8/2019 09:14

This is from original announcnment re the 1000 machines

For example, prior to receipt of the Requisition, the Company agreed to purchase 1000 Bitmain Z11 mining units for a total consideration of GBP1.3m to be deployed in May 2019 to mine cryptoassets on the Company's own account. Based on the Company's conservative projections of mining difficulty rates and current cryptoasset prices, the Directors expect to generate the same value of cryptoassets in approximately nine months.

So the payback is in 3 months !!as to the predicted 9!!!

[stoneme] 28/8/2019 08:54

Only question. Why the announcement today when half year results should be released in a matter of weeks at most?

[topazfrenzy] 28/8/2019 08:48

Anyone selling now is clearly mad.

[ragnarr] 28/8/2019 08:22

Hadnt noticed that in the article - but would be happy with it :-)

[dafad] 28/8/2019 08:16

So much under the radar as well!!

[ilostthelot] 28/8/2019 08:11

Nice one 👌

[topazfrenzy] 28/8/2019 08:08

Amazing progress, this is a real cash cow, I see a special dividend coming next year.

[idiot441] 28/8/2019 07:11

Share options issued at 16p. Unheard of to issue at prices so favourable to existing holders. Real statement of the value management see.

[dafad] 28/8/2019 07:03

WOW!

PRESS RELEASE

28 August 2019

Argo Blockchain PLC

('Argo' or 'the Company')

New mining hardware delivers faster-than-expected ROI

Grant of share options

PDMR Dealing Notification & TR-1

Argo, a UK-based provider of enterprise scale cryptocurrency mining services (LSE: ARB), is pleased to announce that its strategy (as announced in April 2019) to make a major investment in new mining hardware has delivered better than expected returns to date.

The first phase of the investment programme commenced with the purchase of 1,000 Bitmain Z11 Antminer machines, which were ordered in April 2019 and went into production in early May 2019. The Company is pleased to report that these machines have achieved a 100% payback on their investment, thereby recouping their full cost in under half the time the Company had estimated.

Based on current mining margins, Argo is also well ahead of schedule to recoup the cost of the 2,267 S17 Antminer machines purchased in April and May of 2019 and which have been in production since May and June.

Mike Edwards, Executive Chairman of Argo, commented: "Our decision to move fast with a major expansion of mining infrastructure is reaping strong returns much earlier than expected. I am confident this strategy will continue to pay off long-term."

Share Options

The Company has granted Matthew Shaw, who was appointed as an independent non-executive director on 17 July 2019, stock options over 1 million ordinary shares of GBP0.001 each in the Company (Ordinary Shares) at an exercise price of 16p per share. One third of Mr Shaw's options will vest after 12 months from the date of Mr Shaw's appointment and 1/36(th) of the options will vest each month thereafter. These options will expire six years from the date of Mr Shaw's appointment.

In recognition of his efforts in establishment of the Company, the Company has agreed with Jonathan Bixby, a former director of the Company, to extend the exercise period for 5,953,691 options over Ordinary Shares granted to Mr Bixby in July 2018, and which have already vested, for a period of three years from 30 August 2019. Details of the options and the Company's option scheme are set out in the Company's prospectus dated 30 July 2018. The options remain exercisable at a price of 16 pence per Ordinary Share.

Share Transfer

The Company has received notification from Durban Holdings Ltd of a transfer of 19,350,000 Ordinary Shares from Durban Holdings Ltd to Toro Consulting Ltd, a company in which Jonathan Bixby is interested. The transfer of shares from Durban Holdings Ltd to Toro Consulting Ltd was completed at nil cost as both entities are entities in which Jonathan Bixby is interested.

Durban Holdings Ltd previously held shares on behalf of each of Mike Edwards, the Company's Chairman, and Jonathan Bixby, a former director of the Company. Following the transfer, Durban Holdings Ltd holds 21,600,000 Ordinary Shares on behalf of Mr Edwards, and no Ordinary Shares on behalf of Mr Bixby.

Following the transfer from Durban Holdings Ltd, the Company received notification from Toro Consulting Ltd that it had sold 10,540,000 Ordinary Shares to a third party.

Durban Holdings Ltd is a company jointly owned by Mike Edwards, the Company's Chairman, and Jonathan Bixby. Consequently, Durban Holdings Ltd is a person closely associated with Mike Edwards, and therefore required to give a PDMR notification, details of which are set out below.

[idiot441] 28/8/2019 06:49

Hive mkt cap around £50m now - share price having almost halved since swap announced.
ARB mkt cap around £30m now.
So 15% ARB in no way = 5% Hive.

ARB all new machines and on the up. Hive full of old kit and bad news.

[idiot441] 28/8/2019 06:31

Hive release after hours notice that Mar FY results further delayed with release on or by 30 Sep. Jun Q1 results also delayed.

PR starts with irrelevant ramble about swiss regulatory landscape etc.

What a shower. Strongly hoping ARB walk from share swap and have expressed that view to the company management.

[1new guy] 27/8/2019 23:41

Ragnarr, at £9.75 I'd be off to Monte Carlo or the Cayman Islands tomorrow!Mind you, 9.75p looks OK but desperately undervalued.

[ilostthelot] 27/8/2019 21:07

Hopefully the BTC price will break upwards out of this triangular pattern. There are some bearish indicators just now.

[blackrolie00] 27/8/2019 20:41

Wrong they have the best kit with their partnership with BitFury

[ragnarr] 27/8/2019 20:39

Cointelegraph.comCryptocurrency mining firm Argo Blockchain is reportedly increasing its hashrate as the company's stock price soars.An aggressively expanding mining firmUnited Kingdom-based business news outlet ProactiveInvestors reported on Aug. 27 that crypto mining company Argo Blockchain is expanding its mining capabilities after its stock price registered a sharp increase in the past months. Per the report, the firm owns 7,025 machines that it mostly uses to mine Bitcoin (BTC), but it has already ordered more hardware.This month Argo also signed a deal to increase its electricity supply by 357%, which would be enough to power an additional 15,000 machines. That many machines would take the company's hashrate to 1,360 petahashes and allegedly make it the largest publicly listed miner.A profitable endeavorIn July, Argo reportedly mined 163 Bitcoin, valued at $1.655 million at press time. The executive chairman of the company Mike Edwards commented on the development:"This operational gearing is very important as we triple our mining capacity over the next two quarters with no significant increase in non-mining costs."The company's stock is traded on the London stock exchange under the ARB ticker and is priced at £9.75 ($11.98) as of press time. The stock price has tripled in value since the beginning of May, according to Google Finance.As Cointelegraph reported last week, the Bitcoin hash rate had broken yet another new all-time high, according to Aug. 19 data from monitoring resource Blockchain.com.

[idiot441] 27/8/2019 17:13

Imho... not impossible to imagine a mkt cap exceeding £500m without any dilution or new stock.

Hut8 is currently largest listed miner?
90m shs. Current price CAD 2.32
High Mar 2017 CAD8
Has older kit and some debt but on plus side has some BTC on balance sheet.

Stated objective of Argo is to be the largest miner in the world.most modern kit = most efficient. Debt free.

[topazfrenzy] 27/8/2019 16:28

I agree that in two years this could be a billion pound company, depending on Bitcoin price of course, but it could certainly happen.

[crapcrap] 27/8/2019 16:14

err,yes. Give or take a couple of months. I call it the Stokes affect.

[stoneme] 27/8/2019 16:05

So you forecast a billion pound within 2 years? Interesting.

[crapcrap] 27/8/2019 14:52

well, that won't happen here, I see small incremental increases for the next 2 years
starting at 10p all the way to £2.50.
best regards
cc

[hootza616] 27/8/2019 13:44

I had a small punt on Stellar Lumens in 2017 which did very well for me. (1500% rise in 3 months!) Unfortunately (or fortunately) I cashed in half of it at the near peak and have seen the other half return slowly to the original investment.

[ragnarr] 26/8/2019 12:22

Half year should be due Sept but no date confirmed yet

[stoneme] 26/8/2019 12:11

Anyone know the expected day for results? Could he interesting. .

[suffersnofools] 26/8/2019 10:55

Agree. Alts still lagging way behind and no immediate sign of that changing at mo. In fact LTC has broken below its uptrend