Argo Blockchain Share Discussion Threads

[stoneme] 08/10/2019 08:14

During the third quarter the Company adopted a policy to exchange its mined Bitcoins into fiat currency on a regular basisFunny this from the Chair. Never answered my question about policy of concession. The bulls here were over the moon ARB were holding BTC. Now they support the 'new' policy.

[stoneme] 08/10/2019 08:11

Do not talk tripe. It is for the company, a young one at that time offer shareholders transparency. Any nebulous approach is a red flag to any experienced investor.

[bandflex] 08/10/2019 08:11

Also from the Interims,

"As at 30 June, the Company held c.GBP3m of cryptoassets on its account generated from its own mining activities based on a BTC price of $10,817."

So if they have now sold those in Q3 at less than the $10817 value declared in the accounts it will show as a loss on those sales in the next accounts.

At least they are not HODLing any longer.

[stoneme] 08/10/2019 08:08

Thanks ARB. No clarity whatsoever. I will take the 20% profit thanks. See you when clarity is offered. GLA long term holders.

[topazfrenzy] 08/10/2019 08:08

Lol, you follow the funds if you wanna tim, they always get it wrong.

[suffersnofools] 08/10/2019 08:07

The ones that paid higher when it listed?We know who the seller is and why.Thanks for your valuable insights though. You're adding enormous value to this BB.

[timw3] 08/10/2019 08:05

You keep buying while the funds offload

[topazfrenzy] 08/10/2019 08:03

50p coming here next year, just keep adding and holding.

[suffersnofools] 08/10/2019 08:03

That's because you're not very bright Timw3How about doing some research and then posting something less dim witted next time? :)

[parsons4] 08/10/2019 08:02

Absolutely brilliant update, very much undervalued, will be buying more today, now my second biggest holding. Onwards and upwards !!!!

[timw3] 08/10/2019 08:00

Seen this ramped on Twitter... all the fuss for nothing.. how will they pay for new machines ?

How many coins mined? Looks like a pump and dump job to me

[suffersnofools] 08/10/2019 08:00

Roger - you need to look into the numbers a bit more.

[bandflex] 08/10/2019 07:59

From the interim results,

"Generated GBP1.4m of cryptoassets in June 2019 from a total of 5,000 machines in production at the end of 30 June 2019"

So they only have 1000 more machines running, and in June the BTC price was much higher.

From todays update,

" During the third quarter the Company adopted a policy to exchange its mined Bitcoins into fiat currency on a regular basis to avoid additional exposure to Bitcoin pricing."

Which means they were holding BTC from Q2 and possibly Q1.
It looks to me like they have sold the BTC they were holding over and added it to Q3. If they actually gave a figure for BTC mined it would probably be obvious.

[topazfrenzy] 08/10/2019 07:56

ssrover, this is clearly not for you, goodbye!

[roger207] 08/10/2019 07:54

Q3 net profit won't be that much after admin charge and depreciation. Current share price is about right. How will ARB pay the additional 6000 machines? New loan or right issue?

[ssrover] 08/10/2019 07:53

Just an opportunity for the sellers to sell more.. 2 funds selling and a vague end with no transparency to bitcoins being mined

[suffersnofools] 08/10/2019 07:51

Not as transparent as your pretending to be a bullish holder and then deramping at every opportunity :)Look at our valuation compared to our sector peers. Massive upwards re-rate coming at some point........

[ssrover] 08/10/2019 07:28

Not very transparent... personally think they were mining less then expected

[trustmeimastomach] 08/10/2019 07:23

I make it circa 100 at average price of $8500 ARB have been scaling up in September so difficult to know how many machine were mining through September .. what we do know is there are now 6000 mining .. revenue for Sept by my calcs is $850,000 so if btc holds even with increasing difficulty we are on target for $2 million per month at current btc prices

[dafad] 08/10/2019 07:16

3.63 million @ a 73% margin last qtr,I suspect this qtr will be less due to bitcoin price but never the less these are stunning figures and 6000 more machines by year end and all at a market cap of 24 million

[topazfrenzy] 08/10/2019 07:10

"... During the third quarter the Company adopted a policy to exchange its mined Bitcoins into fiat currency on a regular basis to avoid additional exposure to Bitcoin pricing. We remain focussed on our revenue and bottom line, while executing our growth strategy to become the world's largest publicly listed miner next year."

Excellent news, hedging the business by converting mined coins to fiat as they go along.

[suffersnofools] 08/10/2019 07:08

Cash machine!

[totana] 08/10/2019 07:06

Interesting that there's no mention of the actual number of Bitcoin mined.

[1new guy] 07/10/2019 15:33

Now 8.3 walloped up on HL. I couldn't buy 300000 earlier today. Had to settle for 2x50K. One shown as a sell the other buy. Mad.