Bitmania2012
Sep 25, 8:16 PM
$CLSK Debt question, as I have a bitcoin bet with my brothers. Have not lost yet and do not intend to.
1: 2.3billion deal at approx 8% interest=15,000,000 per month, interest only, 180,000,000 a year in payments.
2: No revenue from this for 18-24months, and length of deal, 800mill in payments, to 2030, or is it longer?
3: I may be wrong, but junk bond status? Yet Meta backed it? So the market views CLSK not in a very favorable fashion b y any means
4: Their filings list 103k including overhead to cover costs, that will change as they are mining 5 coins less per day. So with power expenses, that is about 40,000,000 per month burn minimally, net of selling some coins. 480mill a year.
5: This deal was a survival deal, the money is burning away as fast as they get it.
Private jet, Side Net jet deal so everything isn't visible, comp packages, bonuses, coins and so on.
6: no profit in this deal other than if bitcoin goes up, which is an asset and they are sitting on 1.2 billion in losses.
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