And who says AM has to stay at 13%? Why not 30%?
Thats my point - at 13% the maths don't work, even adding an extra 50% to mining revenue for hardware as in the post above gets to earnings of 4 BTC over 10-15 years on a 4 BTC investment - wow 0% return......
My point is simple - if AM do not increase their hashrate a lot, the shares are over-valued.....