RE:The Halving....R.I.P April 19th, 2024Just a heads up & update on the Bitcoin miners! As you all know by now, i've posted afew lists of the BEST Bitcoin minersto invest in with several updates in the past year......on this forum. As there is always news & developping events, i always try to keep you guys updatedon current events, when i have the spare time. And talking about some "special" event, there's a few news items and updates to my last list iwant to make. Both to the Top Ten minersto invest in AND those to completely AVOID!
So......first, due to some "unfortunate" events that have affected a specific miner, a miner who i had as one of the 12 to "possibly" invest in. Though this miner had occupied the 11th spot on my list, i REALLY never liked them as a Bitcoin miner OR a viable investment. As there were MUCH better investments than them......and i specifically said somany times. This miner in question of course is Bitfarms. SOooo.......due to those unfortunate events, i'll be REMOVING Bitfarms from the list of "Top Bitcoin miners To invest in" and putting it in the list of miners ot avoid!
So.....for those of you asking WHY? Probably those of you who are unfortunately invested in this miner, i'll give you MY reasoning here. Frist, I NEVER truly liked the miner in the first place, not the mgmt, not their operations....NOTHING. But that, MY BIAS, wasn't reason enough for labelling it a miner to avoid ....at that particualr time. On the surface, they had "decent", competitive operations to some of their peers.....so i was "forced" to add them....as a viable miner. BUT NOW, things have drastically changed with the Halving AND their MANY serious issues.
Therefore, the second reson......them being embroiledin this supposed ugly lawsuit from their former CEO. Don't know WTH happened there and don't really care,but this is gonna drag on for some time & be VERY costly for the company both in terms of rep & money. Thirdly, their operational problems & challenges with the Paraguaian Gov't cracking down on Bitcoin mining and limiting it's growth in the country. A country with many many problems and issues with energy supply & Gov't corruption. And makes one wonder if this latest news regarding the lawsuit with the Ceo is linked to the issues thathave recently surfaced with their Paraguaian ops?
Lastly.......because Bitfarms is in so much h trouble and in need of lots of cash to deal with all those issues, including maintaining their operations efficient & up to formto makesure theyrun smoothly.......they'll have ot raise A LOT of cpaital .....quick. And this will be a BIG problem for them in both the short & long term! Why? Becasue Bitfarms does NOT have a big hodl & invetory of coins on their BS.....less than 1K i believe. Which isn't anywhere of being close to enoguh!
So the only other options is to continue using their ATM and raising cash by diluting shares. Shares which are already trading a very low depressed prices. And i DO NOT mean they are undervalued....by any means. Not al all! Just that the prices is at the low end.....bofering on a penny stock status.......thats what i REALLY mean! So with ALL this said my friends, i'll be taking off Bitfarms ....off the Top miners to invest AND adding it to miners ot completely avoid. Along with those other minersot void in the orginallist above!
So my list of 12 miners to invest willb ereduced from 12 to only 10 with the removal of Bitfamrs and another.......Applied Digital. Why APLD? Due to not providing updates & not being transparent with investors AND not keeping up with the BEST miners....they also come off the list! So for those of you who are interested and want to take a peek at my list of Bitcoin miners to invest in, i'll put the link to that post below. And remember folks, Bitfarms & Applied Digital are both off there now and added to miners to avoid.......along with all those other above......!
https://stockhouse.com/companies/bullboard?symbol=hut&postid=35991132
GLTA