hobowilly
11 months ago
OH MY, OH MY, OH MY!!!!!!!!!!!!!! Hardy Har, Har, Har. Franky's Mushrooms still trying to find the daylight. Still under the Reverse Split Price and now Franky's gonna prime the pump for yet another reverse split in a short while!!!!!!!!!!!! You can't make this stuff up!!!!
We need to execute a Reverse Split to attract Institutional Investors. And boy, oh boy, didn't those Institutional Investors respond and take the pps to da Mooooooon!!!!!
Now drop your draws, bend over and grab your socks because:
Under the Equity Distribution Agreement, the Company may sell up to US$90 million of common shares of the Company (the “Common Shares”). The Common Shares will be issued by the Company to the public from time to time, through the Agents, at the Company's discretion. The Common Shares sold under the ATM Program, if any, will be sold at the prevailing market price at the time of sale.
And I was already having a Great Freakin' Day!!!!!!!!!! $90 milly!!!!!!!!!!!!!!!!!
ChuckBits
1 year ago
All good. My turn to post a bunch of words! Don't know if you recall, but I "inherited" HIVE shares via the RM back in 2017 from a shitty gold mining shell I held! 200 shares. I looked into whatever this crazy "crypto stuff" was at that time and kind of went "all in". My proprietary hindsight algorithm says I was a bit early!
I hold shares in 4 accounts. I was able to trade my average "down" to about $6 pps in 2 accounts & booked about $7.5k profit. However, the other 2 accounts hold the bulk of my shares and they are IRA rollover accounts with little equity so not much trading. So once again my hindsight algorithm says I should have dumped other holdings and dove in around $2 pps. Funny how that works.
So even though my total average is around $10 pps now, I am optimistic for the future. HIVE is still doing "ok" with BTC mining and since they were crypto pioneers, I think they have their stuff together with AI. Unlike companies that "said" they were dot.com or weed based to ride the wave, HIVE started shifting for AI early. I think they are in a good position to capitalize on the AI technology while still mining Bitcoin, so my fingers are crossed they will reach the "real ATH" in the not so distant future.
Good luck to us!
77Port
1 year ago
ChuckBits, I laughed when I read your comment, pointing out my bone-headed inaccuracy regarding HIVEs ath.
While I didn't like the reverse split, I was in favor of it at the time due to the ugly market circumstances. HIVE needed to keep their head above water and a dollar.
Now, getting SP to $28.75 will take some time. If they succeed, perhaps it will someday make sense to reverse the reverse split.
HIVE entered the US market from Canada with too many shares, at least compared to some newer miners which had 40 to 80 million. HIVE had way more, over 400 million, if memory serves. This might have allowed them to be one of the most liquid and active trading stocks on the Toronto exchange, but it was poison to the OTC, then Nasdaq. I think Frank Holmes made a mistake, thinking, or assuming, that HIVE would maintain such activity when they reached the US market. When this didn't happen, it left HIVE fat and unappetizing to the institutional gorillas. That honor went to MARA and RIOT, with HIVE left to reinvent itself in the brave new world.
Having so many shares made HIVE a difficult and/or confusing company. In my opinion, they misread the American market and should have done the reverse split before they reached the US shores and Nasdaq. Had they gotten here with 60 million, instead of 400 million, things might have unfolded differently.
But that's all assumption vapor. A waste of typing with my thumbs.
SmokyStock
1 year ago
Crypto miner Hive Blockchain posts wider losses, cites Ethereum Merge
Hive reported a net loss of US$90 million for the quarter ended Dec. 31, compared to a net income of US$51.2 million in the same period the year prior. This was the first quarter it didn't mine Ether since last September's Merge upgrade. Hive navigated this quarter by selling energy back to the grid, repurposing GPUs to mine Bitcoin, and upgrading its fleet of ASICs. Its shares on the Nasdaq closed down 9.5% on Tuesday at US$3.05, a 67% drop from US$9.35 a year ago.