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Obviously, I sold my PUTs a day too soon.
How was I to know today would be the worst market day in over a year.
When things like this happen I always remember what J.P. Morgan once said:
"No one ever when broke taking a profit."
Sold my $21 PUTs for about a 30% gain.
The $23.50 CALLs I sold are still out-of-the-money.
I am lovin' the volatility in MARA.
It has a certain rhythm to it which is somewhat predictable, based on the price of Bitcoin and the general stock market movements.
My $21 PUTS are now up 39%. This move down in share price will not last so I will be out of this position very soon.
As they say, "Pigs get slaughtered..."
I followed your lead and bought five $21 PUTS out to May31
I am already into profit by 8%, which is a good start.
It looks to me that the markets are stalling out, and we shall see some profit taking.
A gigantic move in the stock market last Friday with DOW breaking 40K for the first time.
And Bitcoin had a nice run today, up 6% on the day
IMO, I think everything has gone a little too far too fast and now Over Bought.
We still don't know the effect of the Halving, until the production numbers for May come out in early June.
I wonder why they picked that price. A Million Dollars THIS year?
If you're going to be ridiculous then why hold back.
If Bitcoin goes to $1 Million Dollars this year then a loaf of bread will cost $25 and gas will be $50 a gallon..
"...she COULD well be off to the races...."
So you think Bitcoin is female.
I never thought of it that way. But maybe that explains the lack of decisive direction and the irrational nature of the price movements.
(Just kidding, of course)
Thanks for the tip about Auradine. I was not aware of the connection.
They're a private company seeking private investment. So other than their connection to Marathon I am not particularly interested. But I will check out their products.
In the corporate world desktop computers get replaced on average about every 3 years. But the lifespan of these ASIC miners seems to be measured in a few months.
Seems all of the miners are trying to drastically increase their hash rate at the same time. I see many orders for tens of thousands of virtually the same model. Many Millions of dollars being spent on hardware upgrades. And I am sure those will be replaced in a few months when an even better product is announced. I wonder where all the old ASIC miners go. Surely they don't get scrapped.
Marathon is also into Immersion Cooling. Some miners overclock their machines to get a higher hash rate, which generates a lot of extra heat and shortens the lifespan. And if the data centers happen to be located in Texas or other warm climate then I think liquid cooling will almost be a requirement.
I just read the Nbr of Outstanding shares at 5.1M off the stock page at my broker.
I certainly never suggested this was predictive of any future share count.
Sorry you got that impression from my post.
Why would they do a Reverse Split with only 5.1 million shares outstanding?
It seems like a Forward Split would be more appropriate because it would increase liquidity.
And they just announced a 5 cent profit per share so technically they are profitable unlike most of the other miners.
I owned 40K of this earlier this year but I sold it at a modest profit. It did not seem like it was going to do anything.
And I like to sell Call options against my positions for cash flow. But this one does not have options.
But now that they have a profit for one quarter. That's Big. Maybe I will look a little closer at this one and take a second ride.
Interesting observation.
To the best of my information Marathon does not have any GPUs for mining. They are strictly into ASIC Miners, and they have more than anyone else, except for perhaps Core Scientific. So Marathon is one of a few miners that are not pivoting toward HPC (High Performance Computing) in support of A.I. applications. And until recently they did not own most of their data centers. They opted for co-hosting thru other Data Center companies.
Marathon has the absolute largest HODL of Bitcoin at over 16,000. So they have abundant financial resources to move in any strategic direction they choose.
Currently Nvidia has a strangle hold on the GPU market for HPC for A.I and less so for Mining. Up until late last year Intel was developing a chip for Mining. But they dropped the project with out explanation. And AMD has a new chip for mining that will be released soon. It is supposed to be much more energy efficient that the Nvidia chips. So that will have some impact on the mining biz. It would not surprise me if Marathon started building their own machines optimized for Immersion Cooling.
And finally, Bitdear Technologies Group (BTDR) of Hong Kong, has developed their own chip for mining and will offer it only in completed machines. It is also supposed to be very competitive with regard to energy efficiency. It is just now coming to market.
So Bitcoin Mining, HPC, Artificial Intelligence, and Chip Design all seem to be joined at the hip and closely intertwined in various ways. For me that makes it very interesting for investing. A.I. is certainly Red Hot as an investment segment. And Bitcoin Mining is great for cash and profit generation. And both depend completely on advances in semiconductor chip design.
Good Luck to All Longs.
I do agree that there is danger in this option position. That makes it more excuiting.
The VIX (CBOE Market Volatility Index), has been way down lately. It is the index that determines how lucrative the options market is. So this is a relatively dangerous time to be selling or buying options.
So I have been forced to set my option exercise price lower than usual. Since the beginning of the year I have been setting it at $26 for MARA which has been safe so far. The thing is that the miner stocks are a proxy for the price of Bitcoin. So they go up and down regardless of what the stock market does.
With the exception of one Nuclear Energy stock, I am 100% invested in Bitcoin Miner stocks. And of those Marathon has the absolute widest dynamic range of share price which makes it the most productive for my needs. My goal is cash generation. As far as I am concerned the U.S. Dollar will always be King.
I either get a little bit of money from the options expiring worthless, OR a big pile of cash if the option gets exercised. Either way I win. With the volatility of Bitcoin, intertwined with the general volatility of the stock market, I am 100% certain I will be able to buy back the shares, and usually at a price that is less than where I bought them earlier.
As far as I am concerned the most important goal in investing is to have fun doing it. It is a mental challenge that keeps my brain sharp and gives me the opportunity to Win at something. If not for investing and trading then life would suck even more. I am in the final chapter of my life so I am prone to worry about everything. So playing around in the markets is kind of my Safe Harbor. I don't necessarily need the money; I just want to Win and have fun doing it.
Pardon me for being so verbose but I have absolutely nothing better to do than hang out on the net and post here while I am watching the markets.
Good Luck to All Longs.
This stock has made a really good move since the beginning of May.
But this looks like an obvious phony pump to me.
I assume the rally is based on their recent announcement of the formation of a wholly own corporation called Applied Digital Cloud Corporation.
Apparently their strategy is to build giant data centers to tap into the massive need for High Performance Computing to support A.I. Well that is a great plan on the face of it. And there are lots of players moving in the same direction.
Do they own the land needed to build the infrastructure? They are going to need a lot of power and the lead time on those giant transformers is more than a year and getting longer. Then they need to purchase the computer hardware. The top-of-the-line Nvidia units are selling for more than $40K each and they are going to need tens of thousands of them.
So where will they get the money? They are going to need more than a Billion dollars to pull this off and it is going to take about two years to complete the plan, BEFORE they can make any income. And will they be competitive with the major players, like AWS, Google, Microsoft, and dozens of other players?
So where are they going to get the money? I know they are not a player in the Bitcoin Mining biz. Will they sell more shares? Or maybe borrow the money?
Given the upfront cost and the competition I don't think the prospects for success look very good at all.
I think this is just a phony move to pump the price of the stock so the insiders can either sell the company or exit with a Golden Parachute. And it looks like they have succeeded in that.
As a shareholder, I really don't like the look of this at all. This is just my opinion.
Good Luck to All Longs.
Bitcoin supply capped at 21 million coins.
Does everyone believe that can't be changed?
Good move! I hope you win.
I noticed that MARA finally outproduced CORZ in April so maybe their fortunes are improving.
May production numbers will be very revealing.
I sold MARA Calls @ $23.50 that expire on 5/31. So far I think they are safe.
Respectfully, I do not agree with your assertion of "Only way to make money on this..."
Marathon is my largest position and I have owned it since early 2023. I add to it when the price is low and I have NOT sold a single share even though my position is in the RED lately. Instead, I have been selling Covered Call Options against my position. I have done it successfully 11 times and have won every time.
I get paid in cash when I pull the trigger. I don't have to wait on anyone else or the market to do anything. The MARA options have weekly series so I can sell options every week. They expire worthless on Friday and I can sell them again for cash on the following Monday. The primary advantage that I see in following this method is that THIS miner stock has the widest dynamic range of price of any Miner stock I own.
Of course, being a Bitcoin Miner STOCK it follows the stock market. But THEIR product is Bitcoin so it also follows the price of Bitcoin. Every month there are at least two opportunities to pull cash out with my strategy, without selling any shares. I own a total of nine miner stocks and I use the strategy on every one of them.
The elementary truth about options is that BUYING options is extremely risky, and most transactions fail. But selling "covered" options is very safe and can be extremely lucrative. It is almost like free money. The trick is to pick the right Option Exercise Price so that the option will NOT get exercised but will expire worthless, and you don't lose the stock. Wash, Rinse, Repeat endlessly. Choosing weekly options means my position is NOT exposed to market ebb and flow that long. Of course, this strategy requires some Due Diligence and some patience, factors that, I assume, most people are just not capable of. Or perhaps too much work involved. Picking the right stock is the hard part but selling the options is very easy.
Once in a rare while I reach out and try to explain my nearly full proof strategy for making money. But it seems like most people are just too lazy or just don't care, because I get no response. I might as well be talking to the wall. Anyway, this is my way to financial success and it is working very well for me.
Good Luck to All MARA Longs!
I am looking for some reasons to continue to hold my FETCH.AI...
...as I am up about 900% since purchase at about 28 cents in 2022.
I am sure it will go much higher, but as the old saying goes "No one ever went broke taking a profit" (J.P.Morgan)
I found this article worth reading:
https://blockworks.co/news/ai-monopoly-privacy-blockchain
MARA trades in the pre-market and post-market sessions.
Being a stock it follows the stock market stats, but also follows Bitcoin price.
If Bitcoin goes up over night then MARA will often open UP.
Based on how CORZ responded on earnings release earlier today I think we might see $24/share on MARA in the pre-market session tomorrow.
Earning are out and lots of after hours activity.
Revenues Increase 223% to a Record $165.2 Million.
Net Income Increases 184% to a Record $337.2 Million, or $1.26 per Diluted Share.
Adjusted EBITDA Increases 266% to a Record $528.8 Million.
Good point! That is a very good sign of confidence.
On the MARA stock page at my broker it says that earnings come out today. But I don't see any PR verifying the release.
Anyway, Marathon has has some power problems that curtailed their production. I am very interested to see if they have overcome those problems and have beat CORZ on Bitcoin mining production. Marathon should be #1 in this game.
Earnings are due to come out today after the close. There might be some positive action tomorrow,
Core Scientific published their earnings yesterday after the close and they are up about 10% today.
Of course, everything to do with the miners depends on the price of Bitcoin. And secondarily on the stock market action.
I appreciate your knowledge about this as a long term shareholder. That is valuable to me and Thanks for sharing.
I am invested mainly in Bitcoin Mining stocks, trying to surf the Bitcoin wave thru the end of the year. BFCH is somewhat related to my strategy since they buy and sell ASIC mining machines, Immersion technology, and building and maintaining data centers. Unfortunately they don't make any money directly from Bitcoin so their only option is to dilute the share base. With their inventory of machines to sell it seems like they should at least fire them up and see if they can earn some Bitcoin.
I agree with your split prediction.
They have had power problems lately which would seem to point ti a lower price. However, there is so much untapped potential in Marathon that I believe the price can go a lot higher. Maybe as high as $100/share by year end, depending on what Bitcoin does.
I have sold covered Call options against my MARA position exercisable at $26. I sold them for 23 cents and they are worth a nickle today. They expire EOD tomorrow. So I hope the share price does not go too high in the short term. However, If it goes to $15 I will certainly be tapping my margin borrowing power and picking up a few more shares.
Based on the previous post-halving price history Bitcoin should be trending sideways until about the end of June.
Good Luck to All Longs.
I agree that the situation does not look very good at the moment.
They have a nice web site, and on the front page is a video from January that suggests they are considering uplisting to the OTC.
If they could pull that off it would help the stock quite a lot. They would need to get a big business win or reverse split the stock
to boost the share price to meet the listing requirements. They have been so quiet I hope that something is going on behind the
scenes to improve the situation. Right now the stock is powered by "hopeium".
This is certainly NOT an investment grade stock. It is purely speculative. More like gambling. I have been playing with the penny
stocks since the early 1970's. One thing I know is that the time to buy them is when they are dirt cheap. And then just sit on them.
It is not unusual for a stock selling this cheap to double or triple in price over night, given a positive change in circumstance.
Good Luck to All Longs.
If I had to venture a guess I would think that is Short Covering.
The current short position about 52,500,000 or about 19.24%, which is down 22.21% from previous month.
Current outstanding shares is 272,900,000. The Market capitalization is $5.6 Billion. Today's trading volume is 88,752,933.
Incidentally, MARA is holding 17,381 Bitcoin, worth about $1.1 Billion at today's price.
So, suppose BTC doubles in price to $120K. It seems obvious that the price is going to go up at some point based on Supply v. Demand.
Market Buzz as Fetch.ai Surges, Analysts Predict Further Gains (article of May6)
https://cryptotale.org/market-buzz-as-fetch-ai-surges-analysts-predict-further-gains/
A whole flurry of SEC Form4's filed yesterday for exercise of insider incentive stock options..
That means the insiders are putting up money to buy their shares. That shows confidence.
So far I am down less than $25. So I will hold it for a while to see what they do, if anything. They don't seem to be communicating with the public very well. Maybe that will change if their fortunes improve. I am certainly not too deep into this one- just rolling the dice here.
Post Halving Bitcoin hasn't really kicked into gear yet, as it is expected to do. But as the saying goes "A rising tide floats all boats".
Good Luck to All Longs.
I just bought another 200 shares of HIVE to add to the 300 I already own. I could not pass up the lowest price in a year.
They are one of the smaller bitcoin miners but their fleet is highly efficient in terms of production per electricity consumption. They rely on Green Energy available on three continents so their cost per bitcoin is low. Also they have thousands of Nvidia GPUs which they are going to deploy for High Performance Computing for Artificial Intelligence. Apparently they have not yet secured their first customer. They are developing a Computing Cloud configuration, I suppose, because their sites are out in the boonies. This will give them a 2nd income stream which could eventually be more lucrative than bitcoin mining.
And finally, they have weekly Call options trading against the stock. This gives me the opportunity to make a little cash profit every month while holding onto the shares for the long haul. I am very happy with the purchase and upside potential.
Good Luck to All Longs.
In the Big Picture I couldn't care less about this company. As far as In am concerned It is just a vehicle to make money.
I have a tiny position in this compared to what I owned earlier last year, over 600K and sold at a 25% profit. So I threw a little funny money into this again just to see if I can get lucky a second time. This is speculation and not real investing.
I am mainly invested in Bitcoin Mining companies that have Call options that trade weekly. I sold some Calls today for $286. And I have two options that expired today out-of-the-money so I locked in about $325 cash profit. Every week I have some extra cash to play around with. And this week I bought some BFCH, but just a few shares. And as of today I am down $12.
I checked out the legal summons that you posted. Apparently the suit is for an amount of about $50K to $65K plus attorney fees. In the biz of bitcoin mining $50K is chump change. If their Liquid Immersion Worldwide subsidiary can secure just one reasonable size sale that should be way more than needed to pay off the claim.
Of course, the stock price is dirt cheap so there may be other problems that are not apparent. But stocks that are in and around the Bitcoin Mining biz can go up 10X in price in a week. So I will just hold onto my newly acquired BFCH shares and wait for higher prices.
Good Luck to All Longs.
Greetings, I have 7022 of FET (FETCH.AI) which I purchased in 2022 for under 29 cents..
I made the mistake of storing it on the Gemini Exchange in order to collect some interest via their Earn program.
Well, the Earn program was actually run by DGC which was forced into BK as a result of the FTX debacle. So my crypto got tied up in the bankruptcy liquidation for well over a year. Originally, DGC claimed that everything in the Earn program were their assets. However, Gemini filed a law suit on behalf of their Earn customers. Now it looks like I might actually get my FET returned (in kind), possibly by early June.
For me, the interesting part is that it has gone up in price quite a bit, like 900% or so. I probably would have sold it long ago if it were not for it getting tied up in bankruptcy.
And since this happened A.I. has become " a thing", a market force, that can be invested in. So, assuming I get my FET returned, I will probably hold on to it for quite a while.
Good Luck!
Here is a good place to get information about Bitcoin Mining stocks:
https://www.powermininganalysis.com/
Good Luck.
I have been posting on this site since 2016. And I have a lot more posts that you do. Yet you are the first to refer TO ME in the 3rd person that I "...posts stupidity based on nothing...". And only because you don't agree with me. I am guessing you have some sort of "ax to grind" with the company whereas I just see it as a trading vehicle.
I trade on the observation and experience that it is far easier for a stock selling for a penny to double or triple in price, than a stock selling for a dollar.
So why the hell would you care which I stock I buy or post about?
Your post is all the proof I need to know that you are a sociopath who will attack anyone who doesn't agree with you. The uncivil nature of IHUB is the classic problem with the forums as long as In have been here.
In your opinion, who is manipulating the stock and how are they doing it?
No doubt you would like us to dump our shares so you can buy more at a cheaper price. But that isn't going to happen. What possible reason would you have to post negative if that were not the true reason. Are you trying to save us? LOL!
I really like Bit Digital. I own 1100 shares and I sell covered call options against the position as often as I can. I like the fact that they have successfully made a pivot into HPC (High Performance Computing) to support the emerging A.I. industry. They have one HPC customer and are looking for more. This will earn additional revenue on top of their BTC Mining income. Good Luck to all shareholders.
I have 800 shares of MARA. I am selling covered call options every few weeks and have been making a nice cash flow for over a year. I would like to buy more shares of MARA because they have the largest HODL of bitcoin at more than 16,000. At the current price their BTC holdings are worth about $4.50 of the share price. That can only increase in value in the coming months. Because of the Halving some smaller Bitcoin Miners may be forced out of business. So MARA is well positioned to pickup some distressed properties, data centers and machines, at bargain prices. Good Luck to all share holders.
Greetings, I just picked up 20,000 shares of BFCH at $.005. I think this is good for a double in the next few weeks. They service the Bitcoin Mining industry although they don't do any mining themselves. Earlier this year I owned up to 452,000 shares of BFCH purchased at $.009 and higher, and sold for more than a double within 2 months. So this is my 2nd time playing with this one. Bitcoin, the crypto, is on fire so anything related will do well this year as BTC will likely reach $200K and maybe more.
Other than Bit Frontier, I also own about $43K of a half-dozen different Bitcoin Mining stocks and I make about $3K per month selling covered calls against them. I go for the ones that have weekly option series so I have a little extra control. This strategy has been working well for me over the last two years and I expect it to continue thru 2024 and beyond. I am just "Surfing the Wave" as the dollar collapses and gold and crypto climb into the stratosphere. Good Luck and Always do your own Due Diligence.
Hut 8 Mining owns 9,113 bitcoins as of November 6, 2023
...and certainly more by now.
At the moment that I post this Bitcoin is selling at $42,293
So as of Nov6, HUT was holding something north of $385 million in Bitcoin.
This is just an estimate based on available data.
Thanks for sharing that video. Very interesting.
I have been an owner of Applied Blockchain for most of 2023. It is one of a few Bitcoin Miner stocks that have Call Options that expire weekly. So I have been able to generate constant cash income to expand my further investments.
I have been speculating on crypto since 2017. When I started there were about 1200+ individual cryptos, and now there are about 14,000. I made a great deal of profit day trading other cryptos as Bitcoin ran up to $64K. Then when it crashed I lost about half of my profit. It has been painfully obvious since the beginning that all cryptos follow the movements of Bitcoin. And that the vast majority of crypto are "shit coins" not worthy of owning.
About the time that Bitcoin fell hard I became aware of the bitcoin miner stocks, and the financial problems there were having. I discovered the near-bankrupt Core Scientific (CORZQ) and bought a boat load of it at around a dime and sold it at 70 cents. That experience made a believer out of me that playing the miner stocks was a much more lucrative way to go than trading the crypto directly.
So now I am focused on just a few miner stocks that have Call Options that expire weekly. I really like the regular flow of cash. I also have some other miner stocks that are very cheap and are long term speculative plays. I am convinced that most of the crypto market is a very close analogue of the penny stock market, where I learned my skill set. Instead of issuing more paper stock they just issue electronic coins; basically the same process.
Good Luck to everyone who reads this post.