RE:Should be much higher.....Why should Hut 8 be trading higher
45 bitcoin mined per day
164 million Canadian Dollars gross revenue per year
Cost is about 3k per bitcoins so that this an annual cost of $49 million
164 - 49 equals 115 million in profit per year
115 divided by 84 million outstanding shares and warrents and options
Earnings per share $1.36
$1.36 times a multiple of 24( the average for the TSE)
Share price $32.85.
Please please someone reply, I feel like I am in a solitary confinement cell, talking to myself.
Please tell me why I am wrong! Correct my math....please.
I just don`t understand why this stock is only 3.50 or so.
Factor in the risk of the changing price of bitcoin, and you still arrive at $20, if bitcoin price drops significantly... It bitcoin prices go up, and Hut 8 is banking on that, then coins mined today, might be sold in the future for much more than 10k Canadian.
Any logical, rational, hard core look at this company and what they are doing, must lead to the conclusion, that this thing is underpriced by about 10 times, just based on earnings....
I am buying as much as I can, since I trust math.....
Please chime in....