RE:RE:When the breakout comes...Yes, agreed that any crash in the price of bitcoin will translate into a (possibly overdone) crash for bitcoin miners, BITF included!
Given that BITF cost is well under $10k/coin though, current margins are juicy, and who's to say where bitcoin will eventually end up in two weeks, let alone 2 years? The traditional rational value investor in me says that recent bitcoin price moves reek of bubble, but then when does it burst? Have we even entered the final mania phase of the upwards movement?
When I look at a company like Bitfarms though, I see exceptional near-term value in a traditional sense. I can't predict what will happen to the price of bitcoin, and it is in my opinion very risky as we saw in the massively volatile correction on 4th Jan, but I can say that BITF is well positioned to capitalise in a success scenario and is operating very profitably right now and growing.
The recent investment of $20m by an unnamed institution at $2.25, further validates my investment thesis.
All in my opinion of course, and not one for widows and orphans!
I am long BITF, and Argo Blockchain (which popped +100% over last few days) - I used the same metrics when analysing both companies, and feel sure that BITF is undervalued.