Updated Miner Model and CIFR Trade (Patreon)

Hey Team

Here is the updated my model fresh today clean spark still on top and cipher is now in second place with riot in third. Now there is an issue with cipher and I will let out here this is my concern for the longest time as well to help me out of investing in the back in the middle of 2023. 

As u saw in my trade alert, I sold, I was not able to hedge adequately. My plan is to buy back in with an option strategy when the selling is done in about a week. 

CIFR is still a beast and I trust my model but I don't want to hold with this sell pressure. 

Bitfury Group, a leading blockchain technology company, has recently announced its plan to distribute shares in Cipher Mining Inc., a U.S.-based Bitcoin mining company. Bitfury previously operated Cipher as a subsidiary before August 27, 2021.

The distribution is a two-step process. In the first step, Bitfury will distribute 16,127,092 shares of Cipher to its Series C shareholders within seven days. The second step, which is subject to shareholder approval, involves distributing approximately 126 million shares of Cipher to Bitfury's remaining shareholders. If the second step is completed, Bitfury's stake in Cipher will be reduced from approximately 75% to less than 20%.

Bitfury CEO Val Vavilov stated that the move is aimed at maximizing shareholder value and unlocking the market potential of Cipher. The company believes that Cipher is currently undervalued and that this sale of a relatively small portion of its holdings may help increase the stock's liquidity, float, and trading volume.

On January 24, 2024, Bitfury sold 10 million shares of Cipher Mining Inc. common stock at a price of $2.95 per share in a privately negotiated transaction. This sale represents 4.95% of Bitfury's current ownership of Cipher's common shares.