$hut hut8 mining , good entry point

17 juin 2021

Hut8 is my 2nd favorite btc miner, good entry point $3.5-3.9
Latest offering was around $4 and banks bought it up.

I started base position with 1k shares at 3.9 , will average down if price drops. I don't like btc chart right now, but btc can play on its own rules , out of all miners, there is way more upside if btc doesn't tank. Look at my previous ideas on RIOT . I bought in right bfr the bull cycle under $5

3 juil. 2021

Transaction en cours

Broke out of the triangle , averaged down to 3.55 average per share . Jan 22 calls 50% + ... will take profit , maybe roll it over to higher stroke if we dip

3 juil. 2021

Note

Targetting $8 short term ... 15 long target 6 month hold

5 juil. 2021

Note

My bullish thesis around hut8 mining:

- fundamentals , when I was getting in HUT was one of few profitable miners . P/E , P/B , FWD P/E was better then everyone's except BTBT . The only thing I really don't like about btbt is their China connection , lack of transperancy , because they all claim they r now Canadian , there is too much unknown that I wasn't able to find about them , therefore I crossed that one off my list .

- hut has nice btc balance sheet of self mined btc

- they r open their real cost of btc, they openly say how much it really cost them to mine 1 btc , vs bitfarms with their low price , however if u dig deeper in bitfarms the way they count their cost, they r not taking everything into consideration

- their hash rate , etherium mining exposure, except I don't like the fact that instead if building alt coin balance sheet, they get paid in btc

- their geolocation as far as power source. Alberta has financial interest in supplying hut with power source after Biden threatening to cancel keystone pipeline . That gives hut way to negotiate bttr pricing etc.

U can do ur own reserve in that part , look into keystone pipeline and biden campaign promise to cancel it . Quote from reputable source :

"Biden’s plans pose a particular challenge for landlocked Alberta, which has the world’s third-largest reserves of crude but struggles to get it to markets abroad because of a shortage of pipeline capacity that has left its product trading at a discount to global benchmarks."


- let's say that u got American miners , using electricity as power source , we saw that bfr .... Iran shuts down half of miners due to high pressure on power grid ... California starting to struggle with grid ... Texas has oil but has hot climate, if miners put pressure on grid during summer , chances are .... either power cost goes up or limits will start hitting with higher power usage


- u got SSPRT , that everyone wants to ban and even got the bill going to actually ban mining . Even though that bill got vetoed , democrats are talking about further pushing in

I cannt post links,, but go on NY senate website and search for bill s6486

- unlike sprt in NY , Alberta has financial interest in Hut . Cold climate , plenty of power source .


These was some main factors that swayed my conviction towards hut , that when price dropped due china news , I got into this position and told to do so to few friends, that failed to take my advise and now kinda regret it .