Q4 earnings calculation
Just did a simple calculation based on publicly avaliable information (amount of BTC mined each month reported in investors relations and BTC market price), and IMO, the revenue will slightly exceed the expectations.
BTC mined / BTC price / Revenue
Oct 1,184 / 28k
Nov 1,151 / 35k
Dec 1,853 / 41k
Total of 150m vs 145m (slightly over 3% beat).
BTC mined / BTC price / Revenue
Oct 1,184 / 28k
Nov 1,151 / 35k
Dec 1,853 / 41k
Total of 150m vs 145m (slightly over 3% beat).
EPS
This one is tricky accounting thing.
This one is tricky accounting thing.
Digital assets held on Balance Sheet
Oct ~13k BTC
Nov ~14k BTC
Dec~ 15.2k BTC (public information from IR)
BTC price in September was 25k, in Dec was 41k (these are averages, but should be month end values, still good for approximation).
Oct ~13k BTC
Nov ~14k BTC
Dec~ 15.2k BTC (public information from IR)
BTC price in September was 25k, in Dec was 41k (these are averages, but should be month end values, still good for approximation).
Assuming company will have operational costs stable in a period, we are looking at ...
Revenue 150m
Energy -71m
Depreciation - 70m (increased it due to scaling of operations, Q3 it was -50m)
G&A - 25m (increased by 5m due to good year, Q3 it was 20m)
Reevaluation of digital assets +208m
Net profit for the quarter 189m
EPS (assuming no further dillution $1 vs expected $0.01.
PS. I have verified reevaluation of digital assets and company is reporting this both in quaretes and in 2022 FY financial statements, thus looks legit.
Revenue 150m
Energy -71m
Depreciation - 70m (increased it due to scaling of operations, Q3 it was -50m)
G&A - 25m (increased by 5m due to good year, Q3 it was 20m)
Reevaluation of digital assets +208m
Net profit for the quarter 189m
EPS (assuming no further dillution $1 vs expected $0.01.
PS. I have verified reevaluation of digital assets and company is reporting this both in quaretes and in 2022 FY financial statements, thus looks legit.
Just my expecatation, for your consideration. Not an investment advice.
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ma gonOP : I expect they present 1Q24 EPS outlook to be $0.5... (currently $0.1).
and
comment that they have been preparing for the halving with scaling operations to benefit from the effect of the scale (which is obvious), and potentially the analysts will squeze out of them the 'break even' BTC price for their operations, which looks to me to be around 90k per coin.