1/5 We should expect to see good Q3 results from @ArgoBlockchain on Monday, after market close!
The opening #Bitcoin price on the 1 July was $35043 (this value would also have been used to value the #Bitcoin held on the account in the H2 update, in accordance with IFRS).
The opening #Bitcoin price on the 1 July was $35043 (this value would also have been used to value the #Bitcoin held on the account in the H2 update, in accordance with IFRS).
2/5 The closing #Bitcoin price at the end of Q3 was $43880 and therefore the 595 coins mined in the Qtr should provide revenue, in the region of $26m (£19m). Gross Margin should be close to 84%, equating to $22m (£16m).
3/5 The total hodl of 1836 less Q3 mining, equates to 1241 #Bitcoin, which will be revalued up from previous Qtr price of $35043 to the closing price on the 30 Sept of $43880, providing a revaluation in the fair value movement of crypto assets of $11m (£8m).
4/5 That works out at a total Gross Margin of $33m (£24m).
There will, however, be some considerable costs, included. Costs for Texas and the recent IPO /Listing legal costs, could be close to $5m when comparing similar recent IPOs for Hut, Hive and BITF.
There will, however, be some considerable costs, included. Costs for Texas and the recent IPO /Listing legal costs, could be close to $5m when comparing similar recent IPOs for Hut, Hive and BITF.
5/5 Depreciation costs of approx $1m a month will also be included.
However, if #Bitcoin maintains its current trajectory for 2021, the revaluation for Q4 will be considerable! 😉
DYOR 👍
However, if #Bitcoin maintains its current trajectory for 2021, the revaluation for Q4 will be considerable! 😉
DYOR 👍
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