RE:RE:RE:Question regarding the PRHi Forrest, nice to see you here. Mining more BTC doesn't mean more revenues. A pure mining Co like FORT (they don't do anything else than mining) builds its business on BTC present and future value. As of Sept 30th last year, they had 163 BTC on hands plus cash plus BTC mining capacity for approximately 3 BTC/month (in a facility in Washington DC). We're all looking forward to what they now hold as of December 31st (pending 4th qtr results). Did they sell any of their BTCs or did they pile them all?. If they mined 9 BTCs in the last 2020 qtr, do they now hold 172?
They recently closed 9.7M$ financing and we just learned that they will use all proceeds and more to build 10X mining capacity, potentially bringing total capacity to 90 BTC/qtr.
Good stuff. However, no, it doesn't bring in any reveunues. Recurring revenues I mean. Is this a viable business? I guess that's what the mkt struggles with. Our HOPE in putting $ in FORT is that they will succeed in mining at the cheapest and cleanest way, and that the BTC price will go higher. If the answer is no to either of these 2 questions, we'd be holding shares in a CO with melting cash. I'm afraid the BTC frenzy is over and we now hope for a positive answer to my 2 questions. Not very solid investment indeed and no more good as a spec play.
GLTA
Rob