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I won't lie. Today hurt a little.
However, today's trade volume eclipsed 8m which is the highest in 3 weeks. I'm confident this is a change of hands.
Hoping the big seller rumour is true and this will pick up again and move directionally with BTC ATHs.
Hopefully this provides a little perspective.
https://twitter.com/ThePortfolioHub/status/1381907773848387587
Yet Argo remains a very successful stock, even throughout March.
https://www.proactiveinvestors.co.uk/companies/news/945955/argo-blockchain-rolls-royce-holdings-and-tesla-among-march-investor-favourites-945955.html
The Nasdaq listing is without doubt a competitive advantage in the miner landscape. If he wants to build a solid foundation for Argo's future and become a meaningful player / contributor within the crypto / DeFi space, the writing is on the wall.
Why wouldn't he want to list? It's an arms race these days to maximise the BTC bull run.
However, it is not PW's responsibility to appease impatient traders. And he does more than enough of this.
The listing will be announced once it has been successfully processed. Lining up performance is more important. I prefer for this to taking its time so we have a solid business case for Argo once we go live so the PR machine can go into full force.
I believe all his videos were to contextualise strategic initiatives and investments (after the backlash of dilutions), rather than operational updates. A means to ensure shareholders understand the reasoning behind managerial decision making.
Today's biggest trade was 489,568 shares @ Ā£2.30 eg Ā£1,128,454.
https://www.londonstockexchange.com/stock/ARB/argo-blockchain-plc/company-page?lang=en
We will find out in time.
If youāre a trader, you may lack the patience. If youāre an investor, the facts speak for themselves and the market will catch up.
A few ETFs entering the market. Once they go live we may get scooped up along with. Who knows? So many factors at play that will benefit those who have the tone and patience to sit and wait. Nothing good comes easy. Otherwise weād all be rich if it was so obvious.
Iām not a deramper. Feel free to go through my chat history and youāll see how bullish I am. Am I allowed to keep my expectations realistic for the next few weeks? Of course. I havenāt deramped Argo, just stated that this RNS fell in mine with expectations. Expectations are often priced in. Happy to be proven wrong.
Held back by what? What if this is how to non-NASDAQ crew currently values Argo?
Iām long on Argo so not that phased. Just saying that none of todayās RNS talked to anything we didnāt expect / know. Iām not expecting fireworks from this RNS and see us continue to oscillate around the Ā£2.50 mark until major news breaks.
That was announced a while back. They should be busy ramping up to c1645 PH in Q221. Had hoped weād see progression on that front and perhaps even a quicker turnaround than expected given need to move quickly va competition. Wishful thinking I suppose.
Press Release
07 April 2021
Argo Blockchain PLC
('Argo' or 'the Company')
March and Q1 Operational Update
Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to provide the following operational update for March.
During the month of March, Argo mined 165 Bitcoin or Bitcoin Equivalent (together, "BTC") compared to 129 BTC in February. This takes the total amount of BTC mined in Q1 to 387 BTC.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in March amounted to Ā£6.57 million (February 2021: Ā£4.34 million). Argo generated this income at an average monthly mining margin of approximately 84% for the month of March (February 2021: 81%). This takes Argo's mining revenues to Ā£13.4 million for the first quarter of 2021, the Company's most profitable quarter to date. This income has been generated at an average mining margin of approximately 80% for Q1 2021.
At the end of March, the company held 764 BTC.
Peter Wall, Chief Executive of Argo said: "I'm delighted that Argo has generated record mining revenue and profits for the third month in a row, making this quarter Argo's best performing since the Company's inception. These numbers are incredible, and they highlight our continued commitment to smart growth, efficiency, and delivering meaningful value to our shareholders. I am also thrilled that we are working with DMG to achieve something we believe will be truly transformational in the crypto space in the creation of Terra Pool, the first Bitcoin mining pool that will be powered by clean energy."
I noticed something interesting. After reading the discussions around expiring options every last Friday of the month, I revisited the BTC/USD chart.
If you select the chart based on the daily wick / candle (1D), like clockwork, the final red candle of the ācrashā seems to repeatedly wrap on the last 1-2 days of the month.
https://www.binance.com/en/trade/BTC_BUSD
Curious to hear peopleās thoughts.
This is very cyclical to me.
Hopefully close to the bottom now. Maybe another 5% to go. But this should put everyone at ease. These pullbacks are normal.
https://twitter.com/ecoinometrics/status/1375116610051039239