BTBT About $35-65mm in balance sheet value. Seems to be bur…

BTBT
About $35-65mm in balance sheet value.
Seems to be burning maybe $5mm per quarter.
$100mm market cap at $1.19, so 2-3x balance sheet

One could get interested at maybe 50% of balance sheet,
or more like $0.30 or lower.

A minor miner, only about 3 EH if running all miners (only 29% as of August), and says they are shifting from China to US still, but could be they are just not running to get mining rigs up bc it just burns capital faster? Hard to say.

They've been selling M21s and buying M30s, but they made deal in late 2021 for $6,500 mining rigs, which probably trade half that now, or worse.

@292 what you make of these prices? You're more current on actual market prices for Whatsminers. I wouldn't take too much stock in this chart, but it seems to indicate only the newest miners M50S are profitable these days, but that's dependent on a lot of assumptions about RE and Electricity expenses.

Wouldn't touch this in a hazmat suit.