Do the Math and be happy - 20 MILLION CDN ON HANDSo much misinformation here.
Block has purchased 2000 S9 miners. At great prices. They secured the deal while btc was trading at 8000 USD. Those same miners are retailing for 10,000+ CAD RIGHT NOW:
https://www.amazon.ca/Antminer-13-5TH-Bitcoin-Cash-Miner/dp/B077R3J1Z2/
https://www.amazon.ca/Antminer-S9-13-5TH-098W-Bitcoin/dp/B075MH4HSL/
Now, how many BTC can 2000 S9 miners potentially mine in a year?
~13.5 TH/s * 2000 = 27,000 TH/s * 1000 = 27,000,000 GH/s
https://whattomine.com/coins/1-btc-sha-256?utf8=%E2%9C%93&hr=27000000&p=2740000&fee=0.0&cost=0.1&hcost=0.0&commit=Calculate
So in the first year BLOCK stands to mine between 22,000,000 and 25,000,000 USD or 1557 BTC after cost of approx 2 million USD
I've seen people claiming that the bitcoin reward will be halving this year. No. It will not.
https://www.bitcoinblockhalf.com/ next halving is in approximately 3 years.
If the price of bitcoin doubles over the year (which is nothing for bitcoin) block can easily become a 200 million dollar company. EASILY. That's with a P/E of 2. Let's all agree that speculative tech stocks like this often carry an infinite P/E or at least 100, 150.
There's not a lot of speculation here. The gamble is on the team. Can they execute. Are they in this for the long haul? Can they educate themselves quickly enough to maintain their positioning? So far so good. Landing these 2000 S9s is absolutely huge.