Argo Blockchain Share Discussion Threads

[ragnarr] 09/10/2019 19:04

I do agree Hornblower and probably one of the reasons details are a bit vague. we do know that at the end of June 5000 were live so during this quarter another 1000 went live.

[topazfrenzy] 09/10/2019 18:23

Only fools sold today, as usual, no clue whatsoever

[aidenabettin] 09/10/2019 16:34

Bull run on BTC and ETH.going up!!!!!

[napoleon 14th] 09/10/2019 15:04

Interested, but only watching.
Won't buy at more than 6p.
Agree with hornblower, both here & elsewhere.

[aim chaos] 09/10/2019 14:50

supercity, I would suggest that it because in May, June and July, the Company was essentially in a 'commissioning' phase, to use terminology from the physical ore mining industry. Listed miners tend to report results on a month-to-month basis, in the first handful of months of a new mine being opened. This assists in allaying the most important concerns that investors might have over the opening of a new mine. However, after these first few months, the public miner will convert to reporting on a quarterly basis.

It is evident from the maiden quarterly report released this week that ARB does not intend to report on the specific number of coins mined. There may be a number of reasons for this, not least that it is mining a combination of BTC and ZCash (it currently has 3,368 S17s / T17s running, and 2,610 Z11s running). The difficulty rating and hash rate are all over the place, as is the BTC price. Management evidently thinks that there are two many variables in play to give any forecasts to the market - hence they will not give too many specific details away. I am happy enough with that.

[supercity] 09/10/2019 12:01

Ragnar your calculation assumes bitcoin mining will stay at the same levels which it is obvious from the update it has become more difficult so is unlikely to and doesn't take in to account that next April/May the bitcoin reward they receive will halve effectively meaning to achieve the same rate they will need the doubling of the machines but also doubling of the electricity costs which will make the profit margins shrink significantly.ZedI don't think people are crying I think a genuine question is being asked as to why give out concise May,June and July updates and then stop and throw out a vague quarterly update.It's not about knocking a company it's about taking a step back and saying "hold on, why would they do that"

[aidenabettin] 09/10/2019 10:56

This is very big!!!!!!. hTTps://www.theblockcrypto.com/post/42606/binance-to-support-wechat-and-alipay-for-buying-bitcoin-in-china

[zed2002] 09/10/2019 10:15

Why dont you just divide 3.63m by 3 to give you average which is £1.2m. Rather than moaning they should have given more information. People cry when they dont get any update, when they do also cry. You cant win. Oh yeah everyone should know the reason why share price drifting because we have a seller.....FACT....you dont need to be genius to figure that out.

[horneblower] 09/10/2019 09:58

I partly agree with the criticism on reporting but their story is not straightforward.
6,000 machines did NOT produce GBP3.63m in Q3. Most of Q3 they had many fewer than 6k machines as they were installing them for a lot of that period.

It is tricky for them to produce the figures in an understandable way as there were daily changes in the number of machines operating, the number of coins mined and the efficiency of the average mining machine.

However, they could and should have given more explanation imo and the subsequent drift in the share price is a consequence of this.

[chrisan101] 09/10/2019 09:54

I agree, slowly buying in on Dips. 2020 is when the real fun begins.

[zed2002] 09/10/2019 09:49

Its painful to see the price drift downwards because Miton and Hadron are dumping their holding. I recommend keeping funds aside to add when they have finished as buyers will sweep in to buy cheap stock.

[ragnarr] 09/10/2019 09:45

Dont really understand the paranoia over the exact bitcoin/price sold/held.I accept the RNS was a bit vague but the simple fact is that 6000 machines produced GPB 3.63m in Q3 - that is set to DOUBLE by end of Q4 So assuming BTC stays in the same 8000/10000 range annual GPB revenue is at circa GPB 28mHello!!

[stampylong trader] 09/10/2019 08:47

What you want to do is aggressively mine all these coins in the top 100 most liquid coin list, and resell them straight away and return the money to shareholders. This should be the 25 year plan as investors seek to this long term goal, as well as MAAS.

Bitcoin is the antithesis of the fiat money debt system and the foundation pillars of the stock market, you have to decide if this company is with the Fiat Establishment (the Dollar), or not with the Fiat Establishment.

If you want Bitcoin to go up then close down all the miners. Miners should be the ultimate short on Bitcoin.

It has been the same story with gold - if you want the price up, close down all the miners. We dig gold out of the ground which has been in the ground for millions of years, and then put back in the vaults, to store as bars for many more years untouched.

[costax1654x] 08/10/2019 21:33

Top shares for next month Arb And Ptal mark my word

[roger207] 08/10/2019 17:56

I agree, monthly productivity won't be consistent until all machines are properly setup. Cash balance is paramount

[ragnarr] 08/10/2019 16:13

The statement clearly stated that the company had generated GPB 3.63m from the mining operations and also clearly stated that they had adopted conversion to fiat so I am sure it matters what the conversion rate is/was as we have the revenue GPB figure The conversion rate will fluctuate on a daily basis - why do you want the actual average rate

[topazfrenzy] 08/10/2019 13:25

Buy Ripple, a future world currency in the making.

[sunnysideup1] 08/10/2019 12:22

hxxps://zakmir.com/2019/10/02/interview-mike-edwards-co-founder-president-argo-blockchain/


Just found audio interview with ME from Oct 2.

[sunnysideup1] 08/10/2019 12:19

Stick with utilities Roger207. They pay a divi as well.

[parsons4] 08/10/2019 12:18

Sorry red2002 I have changed my post. I was saying IF which is only a possibility. How do you know that Miton and Hadron are selling their holdings ?

[roger207] 08/10/2019 11:40

Burning cash - less productivity - selling BTC at lower price - don't approve fund raising later!