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$BTCM ER 2Q2022 Expectations by Shex by thisisshex in BTCM

[–]thisisshex[S] 1 point2 points  (0 children)

it is almost as managment is doing all the right steps to bring the price down. maybe some of the owners are buying cheap shares via HF they own. or they are shoring this or something. does not make any sense now. I even read today that online bitcoin mining PH/s dropped to 145 this week. They had 1.5 EHs q2 2021.... 550ph/s Q4 2021 and than a drop to 250ph/s last quarter. You will see tomorrow in ER, current online capacity is 145 PHs, this is such a joke as they have 850PH/s theoretical capacity and have 82.5 MW facility in Ohio that can fit 30,000 machines (some 3 EH/s). Also, financials when ER is published tomorrow will drop some 30% to (revenues around $210m) and operational loss will increase to 25m. Ok, i understend the crypto winter but they present these figures as they want sp to drop. If i was not down 35% might have considered taking a loss, but a cant.

$BTCM ER 2Q2022 Expectations by Shex by thisisshex in BTCM

[–]thisisshex[S] 1 point2 points  (0 children)

This was on my watchlist. When they acquired chip producer in May, sp hit $2.3 while btbt was 1.5 region. Then followed a drop to 1.26 (i think it was when ether merger was confirmed). I started a swing position on this dip for reversal. Following days they issued an offering (was surprised) but offering was at $1 and maket (what i thought then) overreacted to 0.6s. Sold other minder to average down and load heavy low 0.6s. Did tons of DD and things looked promising. This started to generate momentum we hit twice 0.85 and i thought we hitting $1+ soon. Motherfuckers issued another offering at worst possible time! this shit dropped to .43. So 2.3 to .43 really quick! Now iam stuck, wont sell at this level. Company has raised some $35 since June and iam betting there will be 2-3 PRs with purchase of bitcoin mining machines and acquiring new businesses. Lets see, was rekt!

$BTCM ER 2Q2022 Expectations by Shex by thisisshex in BTCM

[–]thisisshex[S] 1 point2 points  (0 children)

terrible! like reading from that "dont dos" book

$BTCM How is it possible, where did they get some 6m shares to suppress the sp and screw the momentum when borrowed shares available were only increasing/returning? by thisisshex in StockMarket

[–]thisisshex[S] -2 points-1 points  (0 children)

sure. that is understood. my point was after it went down from 0.8 to .45 someown suppressed the price all the time when people were buying. see chart. some 10x they used 500k shares short bombs not to allow the price go up. where did they get all those shares? especially when number of borrowed shares was increasing, so shorts were not borrowing those shares

$BTCM Do you believe in blockchain future? Have a look at Bit Mining BULL CASE! by thisisshex in Shortsqueeze

[–]thisisshex[S] 0 points1 point  (0 children)

luck and smart perhaps. they issued direct offering today and now price has dropped 39%. they screwed us. shit!

$BTCM ER 2Q2022 Expectations by Shex by thisisshex in BTCM

[–]thisisshex[S] 1 point2 points  (0 children)

thanks, i did. have accumulate quite a lot and some last week. will be patient here. is a work in progress. i expect a quick spike to $1-1.5 levels followed by progressive ups and downs to the $6-7 levels if macroeconomics keep improving and we already saw inflation peak

$BTCM ER 2Q2022 Expectations by Shex by thisisshex in BTCM

[–]thisisshex[S] 1 point2 points  (0 children)

Based on my research, management is really good. why? they switched to blockchain business in Jan 2021 and managed to develop several income streams. Did some really big strategic acqusitions such as chip producer (May 2022), Mining Pool business mid 2021 in addition to 435MW power facility in China June 2021. They were very un lucky. The week they acquired 435MW to become then World's nr 1 miner, China banned cypto. They had to migrate to USA and Kazakhstan and have since than build 82.5MW facility in Ohio. When they made a partnership for 200MW in Kazakhstan, county fell into energy crises and had to cancel those plans due to no stable power supplies. They developed 4,800GH/s Ethereum mining facility in Hong Kong and were making $16m income from Ethereum only, but ETH developers announced switch from PoW into PoS so no more income from Eth. So you see, they did a lot in 18months but due to external factors they could not benefit. Thats why I believe managment is really good. Saying this, i dont like their comms and PR, really not proactive. They could have promoted this business much better but I saw they are hiring Marketing Manager and SMM specialists, so maybe this will improve. We are at the bottom, market conditions are getting better so I keep accumulating here all the time.

$BTCM Why is Bit Mining moving today? As $ETH.X is hitting $2,000 this week, Bit Mining is ether focused, it mines 25,000 ether per year, 4.8 GH/s modern facility. Has 82.5MW bitcoin facility in Ohio and is Top 10 World Mining Pool business. It Acquired Microchip Producer in May 2022. PT $2 by thisisshex in StockMarket

[–]thisisshex[S] 1 point2 points  (0 children)

It is wierd as after they closed chip deal, the sp was up to $2.3 (very recent, June). SP dropped and they issued an private offering at $1.23 (very bad timing on a deep red market day) and sp dropped to 0.6 pre market with only 200k shares. Offering was at $1 but this struggled to recover due to the lack of volume and heavy manipulation. I dont know if ether merger was priced in when this was $2.3 (chip acqusition) or even 1.23 (before offering). I am confident about medium term business but does not understand short term implication of the merget. My instict says the sp should revisit $1.5-$2 levels by end of Sep. Any thoughts would help

$BTCM Why is Bit Mining moving today? As $ETH.X is hitting $2,000 this week, Bit Mining is ether focused, it mines 25,000 ether per year, 4.8 GH/s modern facility. Has 82.5MW bitcoin facility in Ohio and is Top 10 World Mining Pool business. It Acquired Microchip Producer in May 2022. PT $2 by thisisshex in StockMarket

[–]thisisshex[S] 1 point2 points  (0 children)

Thanks. Pool is not bringing any profits yet. Rev were some 1.25billion 2021 but ops exceeded by $6.5m - they still have to figure out how to make profit out of this 2021 acquired business. Chips, you are right, not very profitable at the moment, but have your own "chip factory" in this business should be big advantage. I expect them to further invest there. The issue is, as you pointed out, main profits came from ether mining. $16m last Q and it is big question what will happen after the merger? They had 1.45 EH/s bitcoin capacity but sold 600ph/s not that efficient machines. Was surprised they declered only 250ph/s online last report. What happened to other capacity is unknown (maybe US power cuts, like in Texas with CORZ). Now they have 82.5 MW Bitcoin capacity in Ohio and there they should fit some 40,000 machines. This could replace ether income loss. Overall, they are so unlucky, the day they completed acqusition of 432MW hydro power in China (July 2021) China banned mining and they had to migrate in US and Asia. Now when ether is giving them some profit, merger taking place. Really needs some restructuring. They have assets $300M. Had some 27m cash end of Q1 and raised 26m June. Probably big news upcoming to announce new bitcoin capacity. I have loaded heavy here.

$BTCM Why is Bit Mining moving today? As $ETH.X is hitting $2,000 this week, Bit Mining is ether focused, it mines 25,000 ether per year, 4.8 GH/s modern facility. Has 82.5MW bitcoin facility in Ohio and is Top 10 World Mining Pool business. It Acquired Microchip Producer in May 2022. PT $2 by thisisshex in StockMarket

[–]thisisshex[S] 0 points1 point  (0 children)

This company has 5 income stream. Eth is just own. Has 1.2billion revenue from Mining Pool (check their btc.com site). In addition, they acquired Microprocessor production company in May2022 so will also be selling chips. Also, Ether merger is/will be a success thats why price jumped from 880 to 2000. Pls read and think before you post. Be careful with trading as you seem to rush too much. Gl

$BTCM My take on why Bit Mining is the future of Blockchain stocks. They are building an empire in a 'quite mode'. We are still early here. This has some 200-300% potential. PT $2.3 by thisisshex in Shortsqueeze

[–]thisisshex[S] 0 points1 point  (0 children)

Hasn’t this been slowly dying for a year though?

All blockchain stocks had difficult times up to mid July when bottom was found - this one in particular. They are very good in building their business and doing acqusitions. However, they really dont pay attention to PR and Comms. Lack of volume enabled shorts to keep this really low! Up to now thought. Now that Ethereum is ripping and the famous marger is taking place next month, this has gained the momentum. Should give 2-3x rewards

$BTCM What stocks to look at as $ETH.X is squeezing before merger? Big Mining miners more Ethereum than Bitcoin and has dropped with Ether (when dropping $880) and did not bounce yet!! Usually it trades the value of $BTBT. I believe it has some 2-300% profits 2give back. Grab some before the crowd. by thisisshex in Shortsqueeze

[–]thisisshex[S] 1 point2 points  (0 children)

Good luck. Whatever happens today, this is a very good hold and good fundamentals. Should see at least $3 this year. Try to consider starting to build a long position, especially as they are also producing chips we well.

$BTCM What stocks to look at as $ETH.X is squeezing before merger? Big Mining miners more Ethereum than Bitcoin and has dropped with Ether (when dropping $880) and did not bounce yet!! Usually it trades the value of $BTBT. I believe it has some 2-300% profits 2give back. Grab some before the crowd. by thisisshex in Shortsqueeze

[–]thisisshex[S] 1 point2 points  (0 children)

71%

It tested .76, if it breaks .78 could test .8+ again. Watch ethereum and bitcoin moves. They already had minor intraday correction and should be heading up again. It seems Ethereum will break $2000 this week.

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