Bac0n wrote:
The Bac0n Diaries Part #18
Date: 16/04/2021
Closing Share Prices:
HIVE - $4.38 -7.4%
RIOT - $44.64 (usd) -7.2%
HUT - $7.48 -6%
BITF - $5.13 -6%
Comments:
What a glorious day! The big news for today is of course the BITF corporate update release, Im sure most of you have already seen it. But just for completeness, here it is:
https://bitfarms.com/app/uploads/2021/04/2021-04-16__PR-FINAL.pdf
Highlights:
NASDAQ UPLISTING
Welp as I predicted BITF is going to be the first (maybe the only?) Crypto miner to get uplisted to the NASDAQ, todays release confirms that their SEC Form 40-F is in the final stages! This is the last form required before a NASDAQ listing. It is required for a Canadian company to trade in US based securities, if the NASDAQ uplisting was not a lock they wouldn't have formally announced it. Exciting stuff! now BITF can be fairly valued with its peers RIOT and MARA.
New Miners being deployed in June / August
Even MORE! miners are being deployed this summer, 2 batches slated for June and then again in August. Bringing the total BITF hashrate to 1.6 e/hs! Its truly insane how fast they are scaling up, and this is just the beginning!
3.0 e/hs by end of 2021. and then a JAW DROPPING 8.0 e/hs by end of 2022! This kind of growth is unheard of!
Bitcoin Holdings
650 as of right now. TODAY, they hold in Bitcoin (over 40 MILLION USD)
1000 by June (over 61 MILLION USD)
keep in mind these prices are based on todays Bitcoin price, it will likely be MUCH higher by June.
ok now lets get to the depressing part of the diaries post.. HIVE.
Unsurprisingly HIVE was the biggest loser today, highest percent loss among ALL the miners. And you can't have losses like that when you have the lowest share price.
I think investors are starting to wake up to the fact that HIVE barely mines any Bitcoin, and their ETH mining operation is about to go through some SERIOUS struggles.
with the hard forks coming, AlphaJ has shared some impressive DD on this topic, I would urge other readers to check it out. here is a link to help you out too
https://academy.ivanontech.com/blog/the-ultimate-guide-to-the-ethereum-berlin-hard-fork-and-london-hard-fork
Smart money is shifting into the more scalable and profitable mining companies (BITF, HUT, MARA, RIOT) I think HIVE will stay relatively stagnant, or at the very least
trail behind the real mining companies in share price, as it has done since the start of 2021.
GREAT way to end the week for us BITF holders! lets hope Bitcoin builds up over the weekend and Monday is LIT!
Have a great weekend everyone! I plan on drinking some whisky on my patio and BBQ with this nice weather
Sign Off:
"I invest in value"
-Warren Buffet
-Bac0n
this is not financial advice, only a complete inbred moron would read stockhouse in search of information