I will work on getting info up on CLSK at some point this week
Bitcoin not liking the COIN news along with large profit taking over the weekend. MARA and RIOT are green still, but I can’t see that lasting, especially with the news of the share dilution approval/8k news this morning
1 Like
just for clarification I am 99.99999% positive there is no coinbase news. That “news” was rehashing the original legal fight. The SEC requested/said everything except BTC is a security so please remove trading capabilites. Coinbase then went to court over that and now we are at present day. I still positioned bearish but not based off of that as the “news” is just saying thats why coinbase went to court. The SEC did NOT just send a new request. Just want to make sure if people are taking positions its off of current information. If evidence comes about that this is a new request then post in here and the new coinbase thread
2 Likes
So yesterday we saw BTC and SPY both drop, but we saw MARA up. I just checked the short interest on Mara (our info is 2 days back yes?) and the SI was at 25%. Average price of over $14. Would it be ignorant to think with the share dilution passing that that would be some short coverage happening?
$MARA Mined another 20% more bitcoin in July than they did in June. Company also has energized another 6100 miners, increased their hashrate 6% month to month, and upped their free cash flow from 113.7 to 129.4 million.
Earnings are next week on the 8th. We know that share dilution from 200 to 500 million shares passed and they haven’t spoken much in that since, so I suspect we’ll get more info on that probably during the call. I’m very Leary to play MARA at this point with this news ahead and the way Bitcoin has been unstable around 29k, but I feel we’ll have a better idea on how to play this after earnings
1 Like
$RIOT continues to run stronger than $MARA at the moment but I feel this is going to be short term. RIOT mined about 12% less bitcoin than it did in June, and has also had serious damage done to their properties and mining rigs due to storms that went through in Texas. Meanwhile $MARA has been on a rear month after month beating each month by 10-20%, activating more and more miners, and selling bitcoin to pay off debt and to build the business and still have a few hundred bitcoin left in profit each month after selling.
Todays earnings I wouldn’t be surprised if RIOT misses, or beats and has some turbulent guidance. I am expecting (just by the numbers I’ve posted on here that nobody here has read) Tittysprinkles. That MARA will beat earnings and have decent guidance. The only thing that I think could hurt a good run is A) the rest of the market, and B) the possible announcement to sell more shares effective immediately.
$MARA filed a shelf offering yesterday. Working capital ramp for added computing power needed for next halving? Could we see a similar trend here in the short term with other minors?
● Riot Platforms, Inc.
● Cipher Mining Inc.
● Hut 8 Mining Corp.
● Hive Blockchain Technologies Ltd.
● Bitfarms, Ltd.
● Cleanspark, Inc.
● Iris Energy Limited
● Bit Digital, Inc.
● Argo Blockchain plc
● TeraWulf Inc.
● Greenidge Generation Holdings Inc.
● Core Scientific, Inc.
● Stronghold Digital Mining, Inc.
#shorttheshelf ???!
1 Like
I don’t know about these smaller ones but I believe riot and cleanspark have already positioned themselves accordingly and I wouldn’t expect any dillution unless btc went crazy (thinking highs again) very quick. <@1126996112360874109> can probably correct me if i’m wrong on riot but I know cleanspark already bought enough miners that doubled their computing power. This was earlier in the year and I think probably took delivery already if not sometime soon/this fall
Marathon Digital Holdings Announces Bitcoin Production and Mining Operation Updates for October 2023 wanted to leave this here ahead of MARA earnings in 5 days and the current BTC run.