Argo Blockchain Share Discussion Threads

[totana] 02/10/2019 14:26

LSE states CFO Mike Edwards holds 21.6million shares as at 18th July 2019.

[commander t] 02/10/2019 12:58

I would buy some more but can anyone check that the CFO has around 400,000 shares. This number is on the low side, which sort of puts a brake on things.

[slicethepie] 02/10/2019 08:40

It is refreshing to see someone asking the company first and not the view of other posters and expecting them to do the work for them Many thanks

[hootza616] 01/10/2019 16:30

I wish my other investment had the same level of communication with shareholders.

[zed2002] 01/10/2019 15:56

Thank you for your recent questions on Argo. We value your interest and support as a shareholder.

As you are probably aware, we will be providing an operational update in early October, which we hope will go some way to answering your questions. Meanwhile, we can also confirm:

The Company remains on track to broadly double its current installed base (6,000 machines as of our announcement of 19 Sept) by the end of this year. We have not provided a specific date as to when these machines will go into production but as previously announced, these will be brought on stream in batches as they are delivered from our suppliers and then undergo internal testing. We will continue to provide periodic updates as appropriate.

As per our announcement of 20th August 2019, we have signed a 64MW electricity supply agreement that will provide sufficient capacity for Argo to potentially become the largest publicly listed miner by 2020. Our longer-term ambitions obviously go beyond that but we have not stated a specific goal as yet as we wish to manage expectations prudently.

Our excellent mining efficiency is a function of many factors including:
• highly competitive rates at which we procure electricity under long-term contracts
• a low operating cost base
• our expertise in configuring and running our hardware infrastructure in a way that optimizes returns from mining
• maintaining up-to-date and advanced data centres
• a team of experts in the crypto industry making timely hardware decisions

The machines that we have brought online, and continue to bring online in 2019, are performing very well and we expect them to continue to do so for a significant period of time. Please also be assured that we will continue to evaluate any new technology advances and the launch of new mining gear from Bitmain and other manufacturers to maintain our competitive edge.

Yours sincerely,

The Argo Team

[stoneme] 01/10/2019 14:50

Why have you ignored the difficulty rate of mining and BTC price. Both will lag ARB yield.

[liveit2] 01/10/2019 14:27

very simple maths follows

argo Generated £1.4m of cryptoassets in June 2019 from a total of 5,000 machines in production at the end of 30 June 2019.

they now have 6000 machines and the numbers of machines going up every month -
1,4 * 12 = £16m -

mmmm

[zed2002] 30/9/2019 17:57

Taken from LSE BB

July ARB mined 163BTC with 3269 machines they now have 6000+ machines some old but now we have the ant miner s17 maybe some s17e and possibly s17t. My bofp calc allowing for increase hash power < mining difficulty should see ARB now producing 400 BTC p/m .. approx $3,2 million @ $8k ..hopefully!!

[hootza616] 30/9/2019 15:45

If the reports are true we turned the corner in April and should post a hefty profit making us massively undervalued compared to Hive!

[idiot441] 30/9/2019 13:44

Hive have announced their long delayed results. At first look confirms Argo made the right decision not to proceed with share swap. Major write downs etc. However it may mean they have turned the corner - but that's a different matter!

[aidenabettin] 30/9/2019 12:55

Alt to watch and way under the radar.PHB/BTC

[zed2002] 30/9/2019 09:24

Not long to wait anyway for the next update. Decision can be made then if you think its worth staying invested or sell and move on.

[stoneme] 30/9/2019 09:20

Not sure it drives the BTC price down, but it does drive down the yields for miners.The million dollar question for ARB is are they more efficient than the herd. They state they are more efficient that other listed peers, but that's a cute way or avoiding broader market comparisons, especially is countries like China.Their only way to measure this would be to look at the market hash rates, compare to their own, then compare to their yield. I think the more I research, the more questions ARB have not addressed. No way am I deramping these guys. What I am flagging is there are questions, from an investment angle, which need addressing.

[hootza616] 30/9/2019 08:59

Topped up this morning.

[roger207] 30/9/2019 08:54

Can too many BTC miners drive the BTC price down?

[zed2002] 30/9/2019 08:40

Look like someone whats to buy low lmao

[hootza616] 30/9/2019 07:49

What makes you say this Horne? Please offer some evidence.My understanding is that the difficulty index is managed by the halving process which will happen next around May 2020.The only other factor that decreases the level of mining for an individual machine is the amount of machines mining in the network. However the volume of transactions has also increased providing more opportunity.

[horneblower] 30/9/2019 01:02

Not just ARB.
The difficulty index has increased significantly recently.

[zed2002] 29/9/2019 23:40

Why you think ARB are mining lower yields from new machines?

[stoneme] 29/9/2019 23:15

I think if ARB were mining materially lower yields from their new machines, they would be in trouble for the recent announcements declaring new machines in production. They have effectively offered the market guidance in terms of yield from their announcements through the summer. Not long to wait for (hopefully) clarity.

[horneblower] 29/9/2019 21:20

So, perhaps the new computers aren't delivering as many bitcoin as expected after all?