Post by
mrmomo on Jan 13, 2021 9:08am
It's a start.....but confusing!
I don't know what's going on here, i thought the company had "CLEARLY" said they would stop all direct mining alltogether and go into hosting and online Bitcoin shop. I don't know if this new developement is good or not going forward as it sends mixed signals and seems like an act of desperation on the part of company mgmt to do "something" for credibiltiy reasons.
Like i said, IF their INTENT is to go BACK into mining themselves, then this a VERY SMALL step and TOTALLY insufficient. But it's better than those ridiculously dilutative private placements they've done in the past that add nothing but line the pockets of mgmt. At least this ADDS some value with some tangible assets! But totally insufficient! For comparisons, MGTI has a current hash rate of ~80phash and a market value of $120M. With this latest addition for Cryptocrap, it would more or less equal MGTI's processing power....at the very least with ~85phash. This should at the vey least send the stock over 0.25 and keep it there!
Where the company goes from here i dont know. This is a VERY confusing & mixed sinal they are giving. Will need time to think about this & analyse what they've done or plan on doing. Will come back later in the week with some additional opinions.
Good luck & God speed
Comment by
Humanist on Jan 13, 2021 9:27am
thx for your critical thinking and analysis momo... best of luck
Comment by
Humanist on Jan 13, 2021 11:17am
i wonder what price it will finish the week at,. i anticipate a pull back/profit taking ! any thoughts ? thx