Miner Argo Blockchain Reports Record Profit Amid Bitcoin Price Boom
London Stock Exchange-traded miner Argo Blockchain announced record profits in its Q2 earnings report, per a press release. The bitcoin mining firm now holds over 1,100 bitcoin worth $50 million.London Stock Exchange-traded miner Argo Blockchain announced record profits in its Q2 earnings report, per a press release. The bitcoin mining firm now holds over 1,100 bitcoin worth $50 million. Notably, Argo vastly increased its bitcoin holdings to 1,268 BTC over the quarter, up from 127 BTC in Q2 2020, which indicates the firm’s increased capacity to hold bitcoin rather than sell it to cover....
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On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October update, Argo said it did not believe the deal “will be consummated” and now two market analysts have downgraded the company’s shares. Argo Blockchain’s $27 Million Financing Deal Falls Through, Stock Shudders, Wall Street Analysts Downgrade ARBK Shares Bitcoin miners have been facing significant pressures as a couple of publicly-listed mining firms have....
Bitcoin miner Argo Blockchain reported Thursday that revenue climbed 23% to £1.48 million ($1.98 million) in November compared to £1.2 million ($1.6 million) the previous month. ● The London Stock Exchange-listed firm mined less bitcoin (BTC) in November (115 BTC) than it did in October (126 BTC) “due to changes in mining difficulty”, but bitcoin’s surging prices helped push revenue higher. ● The price of bitcoin soared more than 50% last month to a new all-time high of $19,864 reached on Nov. 30. ● Altogether, Argo has extracted a total of....
Argo reported it had an outstanding balance of $22 million on a loan from Galaxy Digital, from which it secured BTC-backed loan agreements in 2021. Argo Blockchain has joined crypto mining firms including Bitfarms, Core Scientific and Riot Blockchain in selling part of its Bitcoin holdings.In a Thursday blog post, Argo said it sold 637 Bitcoin (BTC) in June for an average price of $24,500 — roughly $15.6 million. The company planned to use the funds to reduce its debt to Galaxy Digital, from which Argo secured separate $20 million and $25 million BTC-backed loan agreements in 2021. The....
After becoming the first blockchain firm to list on the London Stock Exchange, Argo Blockchain is now looking at a potential secondary listing on the Nasdaq. Argo Blockchain, a publicly traded blockchain technology company focused on cryptocurrency mining, is looking at a potential secondary listing on the Nasdaq exchange.On Tuesday, the company announced that it is now exploring the possibility of a secondary listing on the Nasdaq as part of its operational and strategic update for June 2021.Argo Blockchain said that the firm has not yet reached a decision on the timing of the secondary....
The Bitcoin mining giant has entered into another BTC-backed loan agreement with Galaxy Digital as it pursues further operational expansions. Argo Blockchain has secured another loan agreement from Galaxy Digital LP with the mining firm’s Bitcoin (BTC) as collateral.According to an announcement by the London Stock Exchange on Friday, the new Bitcoin-backed loan agreement is to the tune of 18.05 million pounds (about $25 million).As previously reported by Cointelegraph, Argo entered into a prior BTC-backed loan agreement with Galaxy Digital for $20 million back in June.The United....