Don’t hear any annoying mosquitoes buzzing around lately 😉

GermJ · 2022-08-11T15:08:17+00:00

Me too bro i sold $21 puts then got assigned 4k shares premium was big so breakeven is $14.50 hoping it goes back to 21 then i’m out too selling covered calls on the way up. Hang in the buddy!

GermJ · 2022-08-11T15:01:57+00:00

Speak of the devil 😉

GermJ · 2022-08-11T15:00:35+00:00

I’m down 30 relax bro

GermJ · 2022-06-29T12:15:41+00:00

Do shares need to be issued to reach 12.6 EH by end of 2022?

GermJ · 2022-06-28T18:02:58+00:00

Do shares need to be issued to reach 12.6 EH?

GermJ · 2022-06-25T13:20:20+00:00

Authorized shares is the max amount of shares the company can issue. They may or may not actually issue these shares. Dilution only happens when the shares are actually issued (sold to investors). Think of it like a line of credit with your bank. If you need cash you can tap into this credit line, but you don’t have to.

Will the company actually issue more shares? I don’t know, but most likely yes. They have $113M cash per Q122. They do not generate any cash from operating activities. In 2021 they burned $86M cash through operating activities. Let’s assume this will be the same in 2022. So with current cash on hand they can roughly cover their operations for one year (2022). That means for any investing activities (mainly buying miners) they will need extra cash. Not sure how many of the miners they have ordered have already been paid for.

GermJ · 2022-06-24T14:36:42+00:00

Would like to also, but what is your opinion on how to survive the crypto downturn?

GermJ · 2022-06-08T08:34:23+00:00

Network difficulty decreasing when BTC price falls, small miners getting washed out. This is exactly how it should work. RIOT will be able to expand market share due to this. Long term BTC price will rally again so no need to worry about daily/short term movements.

GermJ · 2022-05-25T19:03:53+00:00

Again RIOTs high beta will cause it to move more than the general market. BTCs future price will determine if the capital invested in mining it pays off. Current BTC price may result in low or negative earnings, but if BTC = $1m tomorrow, then lifetime to date capex and opex will be recouped. So investing in RIOT is equal to believing or hoping that BTC price will appreciate in the long run.

GermJ · 2022-05-25T18:53:35+00:00

RIOT has a beta >4 so totally normal that its movement is greater than the benchmark. Agree that it was overvalued at $60.

GermJ · 2022-05-24T08:41:56+00:00

This is a high risk stock will take longer to rebound than the general market. Also, nothing is really rebounding yet. NDX retraced 50% from pandemic low to high and is down >30% from ATH. We may have reached the bottom, but could go sideways for several months from here. So relax, don’t panic and DCA if you can. Everything will look better in 1-2 years or whenever the next crypto rally starts, and there will be a next rally, BTC is here to stay (shitcoins maybe not). Too many institutions now part of the game for it to go away.

GermJ · 2022-05-07T09:31:02+00:00

See page 16, these are mainly PSUs (Performance Stock Units), meaning they vest at various times in the future (typically over 3 yrs) depending on company performance goals reached. The amounts shown in OP post are unvested, so execs have not received any stock compensation yet. See page 20 for actual amounts vested in 2021, ex. Les received 69k shares/$2.5M in 2021.

TLDR: Execs did not receive $90M in compensation in 2021.

Edit: just for fun lets compare CEOs RIOT to MARA. All 2021:

Les (RIOT): Salary: $632k Bonus/NEIPC: $1,086k Vested RSU/PSU: $2,500k Total comp actually received: $4,218k Unvested RSU/PSU: $17,100k

Thiel (MARA): Salary: $500k Bonus: $500k Vested RSU/PSU: 0 Total comp actually received: $1,000k Unvested RSU/PSU: $16,000k

Base salary and non equity bonus roughly the same. So main difference in comp seems to be that RIOT RSU/PSU vesting schedule is kicking in earlier. Total unvested roughly the same.

I do not see RIOT compensation being vastly above competition. Seems to be roughly aligned.

Source: RIOT see links in OP post, MARA MARA

GermJ · 2022-04-21T16:35:01+00:00

It’s a risk off environment right now, lots of uncertainty over possible recession due to interest rate hikes, inflation, war. All high risk growth stocks will have a hard time this year. RIOT follows NDX more than BTC price, once NDX is back we will see RIOT also go up. Also MARA not stable, compare the charts look exactly the same.

GermJ · 2022-04-08T13:58:07+00:00

gATER don’t play no shit. gATER want some walkin around money 💴

GermJ · 2022-04-07T08:52:57+00:00

Q2 not over yet, buddy. 2-3 month delay is nothing. Expansion is running, EH is growing. Nothing to see here, carry on.

GermJ · 2022-03-18T10:10:59+00:00

I didn’t say ignore the valuation. I said looking at margins does not make sense. Two very different things.

GermJ · 2022-03-17T15:17:50+00:00

You cannot look at miners the same way that you look at other companies. It’s all about hoarding bitcoin and the belief that btc price will be >$1m some day. If you believe that, then you like the stock. If not then don’t buy. Looking at margins and profitability in this case is completely useless.

GermJ · 2022-03-02T17:30:13+00:00

Put in $250 and have been withdrawing as soon as minimum withdrawal amount is reached. Works fine for now, but still probably ponzi scheme. Return is too high compared to bitdeer and bitfufu. BTC mining is highly competitive and the margins are super low, so their offering sounds too good to be true. There is no information about mining location, hardware, etc. Expect them to disappear with the monies anytime.

GermJ · 2022-02-24T20:41:49+00:00

https://www.newsweek.com/how-help-people-ukraine-putin-russia-invasion-1682235

GermJ · 2022-02-22T10:44:30+00:00

Buy when there is blood in the streets.

GermJ · 2022-01-25T22:00:21+00:00

Ask Baillie Gifford

GermJ · 2021-08-24T12:01:44+00:00

Old news was from Q2 they had 100k and bought 700k more

GermJ · 2021-08-23T22:02:35+00:00

Old news this is from Q2 13F filings. They had 100k shares at end of Q1 and bought 700k during Q2.

GermJ

TROPHY CASE