John Melnick

Value investing in #BTC # Related Equities. Top Pics: SIREN SCIFR SCLSK $BITF SMSTR SIBIT Speaking my mind. Enjoy constructive discussions.

[John Melnick @BTCStcoksInvest]

Most miners will do well in this #Bitcoin  Bull Run but the following 3 $CLSK $CIFR $IREN will outperform due to 1) US Focused 2) OpCo Control 3) Low Energy & Modern Fleet 4) Growth Funded 5) Size & Liquidity
Targets: $CLSK $190 $CIFR $57 $IREN $68
https://t.co/J28OsSnvKQ

[John Melnick @BTCStcoksInvest]

@SaiitoChung You did great

[John Melnick @BTCStcoksInvest]

@zachxbt What’s his IG

[John Melnick @BTCStcoksInvest]

$CLSK below $15 $CIFR below $4 such a steal.

[John Melnick @BTCStcoksInvest]

Had some back and forth with $BTBT CEO @SamirTabar yesterday and still suspicious on the economics of the bitcoin mining went ahead and did some DD myself from the public filings. Had some questions in this 🧵 👇

[John Melnick @BTCStcoksInvest]

thanks for bringing this up. So not only you dont have very high hosting fees of 5 cents but YOU ALSO have inefficient set up with your partners where you have to leak out some $4,2 mn every Q. So your real cash cost is then $31,5K. Thats your set up.

[John Melnick @BTCStcoksInvest]

So my question then is since you have such inefficient miner set up. 1) you have almost 50K miners on hand that should be mining at 6 EXA but your actual is 2.7 Exa (?) Question Mark. 2) You plan to acquire additional (?) rigs to put in same 5c + "shark term profit" locations?

[John Melnick @BTCStcoksInvest]

$MARA blues continue. It has 30 Exa installed yet mining only at 24 Exa. Thats around 150 BTC lost every month due to operational inefficiency or 1800 BTC every year. Large, inefficient, bloated Juggernaut. No thank you.

[John Melnick @BTCStcoksInvest]

Reality Check Poll.
With some 6+ months remaining & highly ambitious, never-before-met year-end rollout numbers set by mining execs, which one will announce the "adjustment" first:

[John Melnick @BTCStcoksInvest]

Based on DMs and comments I think we came to conclusion that current prevailing deal terms for energy sites for BTC miners are at $0,01 - $0,25 per watt. If you see someone waving at you a Morgan Stanley Report valuing watt at $5-$12, show them this table👇 🤣 Otherwise ...

[John Melnick @BTCStcoksInvest]

Enclosing the table with latest deals of public mining Cos. As we can see none of them are anywhere near MS hyped numbers. Shit $CIFR and others should just acquire these site for pennies and flip for $12 per watt. 🤣

[John Melnick @BTCStcoksInvest]

$CIFR should exit its btc mining and flip its 700 MW for $8,4 BLN ASAP. $IREN should exit its btc mining and flip its 1200 MW for $14 BLN ASAP and $RIOT should exit its btc mining and flip its 1200 MW for $14 BLN ASAP.

Dont be naive. Do your analysis. Dont trust the bankers 🤣

[John Melnick @BTCStcoksInvest]

Weekend Thoughts: As many of you have seen Morgan Stanley report valuing access to power at $5-$12 per Watt. Then how come $MARA and $CLSK have been buying sites at a fraction of that ? (latest $CLSK WY deal $18 mn for 75 MW puts it at $0,24 per Watt) 20-40x less.

[John Melnick @BTCStcoksInvest]

Enclosing the table with latest deals of public mining Cos. As we can see none of them are anywhere near MS hyped numbers. Shit $CIFR and others should just acquire these site for pennies and flip for $12 per watt. 🤣

[John Melnick @BTCStcoksInvest]

Weeks will pass and #CoreWeave $CORZ superb deal Hype will die down. Other wannabes will discover there is no AI hyperscaler coming to their rescue with $100s of millions of capex spend. It will be a long chug with ATM tapping to raise lots of $ for HPC and securing customers.

[John Melnick @BTCStcoksInvest]

Unless you all expect other AI Hyperscalers lining up for btc miners and their MS reported $5-$12 per watt footprints to shower with billions. Such childish outlook.

[John Melnick @BTCStcoksInvest]

Friday Trivia. Whats the common theme in these pics ?

[John Melnick @BTCStcoksInvest]

Seeing so much AI hype surrounding the #CoreWeave $CORZ deal, with many expecting billions to flow into the sector overnight. However, that's far from the reality. $CORZ won a lottery ticket, and massive congratulations to the team. The deal terms are ridiculously good !

[John Melnick @BTCStcoksInvest]

Answer: None of these Mega Hyperscalers needed bitcoin miners to execute on their plans. CoreWeave deal was one off. Good for $CORZ. All other btc miners wanna be AI players will have to work hard to secure customers and spend $$$s on expensive capex. Thats cold shower for ya.

[John Melnick @BTCStcoksInvest]

#joe_armitage thanks for flagging this up in our discussion. I agree its very odd. #sebastian_ski
#Charge_Stack #theBTCMiningGuy thoughts ?

[John Melnick @BTCStcoksInvest]

I ve just seen few posts hyping up the access to power using this now famous MS report but if its so valuable why miners acquiring site for a fraction of that. Or is MS talking about a specific site and MW access set up that should command a 20-40X multiple of current deals?

[John Melnick @BTCStcoksInvest]

C'mon $CIFR $CLSK $BITF !
$IREN is doing all the work for my portfolio 🤣

[John Melnick @BTCStcoksInvest]

Just bought more $IREN at $7,35 $CIFR at $3,70 $CLSK at $16,52 and $BITF $2,20

They all have solid margins and high growth targets, but:
$IREN - fastest growth
$CIFR - lowest cost
$CLSK - best operator
$BITF - Acquisition target/bidding war

[John Melnick @BTCStcoksInvest]

Seeing so much AI hype surrounding the #CoreWeave $CORZ deal, with many expecting billions to flow into the sector overnight. However, that's far from the reality. $CORZ won a lottery ticket, and massive congratulations to the team. The deal terms are ridiculously good !