Hut 8 Should Be At $31.20After just listening to Andrew Kiguel being interviewed back on about June 3, I have revised my estimations....here is the interview...
https://www.youtube.com/watch?v=ENEMpo9pcy0
Kiguel says, once up and running(September), they will be making 450k per day(45 bitcoin per day), that's 164 million a year in gross revenue.
Kiguel says, it cost about 2k per bitcoin to mine. So 45 bitcoin per day at a cost of 2k per bitcoin, that is 90k per day, times 365 = 32.8 million cost per year to mine.
So 164 million gross revenue - (minus) 32.8 million expenses = 131.2 million profit annually.
131.2 million profit divided by 84 million outstanding shares equals $1.56 earnings per share.
At a conservative multiple of 20 times..... that is a share price of $31.20
Please review this and tell me where I am wrong, as I am having a very hard time believing these numbers......They seen not to make sense to me.
So it should go 10X soon based on these numbers if bitcoin remains around 10k Canadian.
I would appreciate critical comment.