Argo Blockchain is a UK-based company that operates as a cryptocurrency mining company. The company was founded in 2017 and is publicly traded on the London Stock Exchange (LSE: ARB). Read up to learn more on Argo Blockchain Stock.
Argo Blockchain’s main focus is on mining Bitcoin, but it also mines other cryptocurrencies such as Ethereum, Zcash, and Grin. The company operates its mining facilities in North America, specifically in Canada and the US, where it benefits from access to cheap, renewable energy.
In addition to its mining operations, Argo Blockchain has also launched a cryptocurrency mining platform that allows individuals to mine cryptocurrency through the cloud without needing to purchase or operate their own mining equipment.
Overall, Argo Blockchain has positioned itself as a leading player in the cryptocurrency mining industry and has seen significant growth in recent years due to the increasing popularity and value of cryptocurrencies.
Argo blockchain shares
As a publicly traded company, Argo Blockchain is owned by its shareholders who have purchased shares in the company. The largest shareholder in Argo Blockchain was the asset management company Miton Group plc, with a 12.3% stake in the company. Other significant shareholders at that time included Canaccord Genuity Wealth Group and Interactive Brokers LLC.
Top 10 major shareholders:
- Vident Investment Advisory LLC.
- Redwood Wealth Management Group LLC.
- Hennion & Walsh Asset Management Inc.
- Harvest Portfolios Group, Inc.
- Tower Research Capital LLC.
- Virtu Financial BD LLC.
- QCM Cayman Ltd.
- Susquehanna Financial Group LLLP.
- 1832 Asset Management LP.
- The Welch Group LLC.
Argo Blockchain News
Who is the current CEO of Argo blockchain?
On Feb 9, 2023. PeterGWall stepped down as CEO/Chairman.
Seif El-Bakly, CFA (COO) has been appointed interim CEO; Matthew Shaw has been appointed Chairman.
Is Argo Blockchain a good investment?
It is important to do thorough research and consult with a financial advisor before making any investment decisions.
Argo Blockchain is a company that is involved in cryptocurrency mining and the development of mining software. Like any investment, there are potential risks and rewards associated with investing in Argo Blockchain.
It is important to carefully consider the company’s financial performance, business strategy, competition, and the overall market conditions before making a decision. Additionally, it is important to keep in mind that the cryptocurrency market can be highly volatile and subject to significant fluctuations.
Best Blockchain investment
When it comes to blockchain technology, there are many different blockchain networks with different features and use cases, and the potential for investment returns can vary widely depending on the specific project. Some of the most well-known and established blockchain projects include Bitcoin, Ethereum, Binance Smart Chain, Cardano, and Polkadot, among others.
When considering investing in blockchain projects, it is important to understand the technology behind each project, the market demand for the project, the level of adoption and community support, and the risks associated with the investment.
It is also important to keep in mind that the cryptocurrency market can be highly volatile and subject to significant fluctuations, so it is important to carefully consider your investment goals and risk tolerance before making any decisions.
Argo blockchain almost went bankrupt?
In 2018, Argo Blockchain raised £25 million ($32.5 million) through an initial public offering (IPO) on the London Stock Exchange (LSE). In 2020, the company announced that it had secured a £14 million ($18 million) loan facility with Galaxy Digital LP, a subsidiary of Galaxy Digital Holdings Ltd. The loan was secured by Argo’s cryptocurrency mining assets, including mining equipment and inventory.
In May 2021, Argo Blockchain announced that it had entered into a loan agreement with New York-based Celsius Network, a cryptocurrency lending and borrowing platform. Under the terms of the agreement, Celsius Network would provide Argo with a loan of up to $20 million, secured against Argo’s Bitcoin holdings.
The loan was intended to provide Argo with additional liquidity to fund its ongoing expansion and investment in cryptocurrency mining infrastructure.
Overall, Argo Blockchain has utilized loan facilities to fund its growth and investment in the cryptocurrency mining industry. The company’s ability to secure financing from reputable lenders such as Galaxy Digital and Celsius Network is a testament to its strong reputation and market position in the industry.
However, it is important to note that any investment or business decisions should be carefully considered and should take into account a range of factors, including market conditions, regulatory considerations, and the specific risks associated with the cryptocurrency and blockchain industry.
Will Argo Blockchain stock go up?
Argo Blockchain had reported strong financial results for the first half of 2021, driven by a significant increase in cryptocurrency mining revenue. The company reported revenue of £31.1 million ($42.6 million) for the six months ended June 30, 2021, compared to £2.6 million ($3.5 million) for the same period in the previous year. Argo’s mining operations produced a total of 883 Bitcoin during the first half of 2021, with an average monthly mining margin of approximately 81%.
In addition to strong financial results, Argo Blockchain had also announced a number of strategic initiatives during the first half of 2021, including the acquisition of two data centers in Quebec, Canada, and the launch of a Bitcoin mining pool in March 2021.
It is important to note, however, that the cryptocurrency market can be highly volatile, and the financial performance of companies like Argo Blockchain can be subject to significant fluctuations based on a range of factors, including changes in the regulatory environment, shifts in the price of cryptocurrencies, and the competitive landscape within the industry.
As such, it is important to conduct thorough research and carefully consider the risks and potential rewards associated with investing in companies like Argo Blockchain before making any investment decisions.
Wrapping Up
Argo Blockchain is a UK-based company that is focused on cryptocurrency mining and the development of mining software. The company has reported strong financial results in recent years, driven by a significant increase in cryptocurrency mining revenue.
Argo Blockchain has also secured loans from reputable lenders such as Galaxy Digital and Celsius Network, which is a testament to its strong reputation and market position in the industry.
However, it is important to note that the cryptocurrency market can be highly volatile, and the financial performance of companies like Argo Blockchain can be subject to significant fluctuations based on a range of factors.
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