Streetbeat News

ARBK

Argo Blockchain plc

https://www.argoblockchain.com

Industry

Financial - Capital Markets

Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for cryptographic algorithms. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain plc in December 2017. Argo Blockchain plc was incorporated in 2017 and is headquartered in London, the United Kingdom.

Open

1.13

Mkt cap

71M

Volume

2.6M

High

1.21

P/E Ratio

-1.30

52-wk high

4.45

Low

1.02

Div yield

N/A

52-wk low

1.02

Argo Blockchain reported a decrease in Bitcoin mining revenue for August 2024, with revenue dropping to $2.3 million from $3 million in July. The company mined 38 BTC in August, down from 1.5 BTC per day in July, due to economic curtailments and lower hash prices.

Portfolio Pulse from Benzinga Newsdesk

September 05, 2024 | 6:19 am

HC Wainwright & Co. analyst Kevin Dede has reiterated a Neutral rating on Argo Blockchain (NASDAQ:ARBK).

Portfolio Pulse from Benzinga Newsdesk

August 29, 2024 | 10:35 am

Argo Blockchain reported H1 2024 revenue of $29.3M, an 18% increase YoY, despite a 46% decrease in Bitcoin mined. The net loss widened to $32.7M from $18.6M YoY. The company raised funds through share issuance and reduced its Galaxy loan significantly. It also recorded a $22M impairment on mining machines.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 6:20 am

Argo Blockchain plc (NASDAQ: ARBK) has fully repaid its $35 million loan from Galaxy Digital Holdings ahead of schedule, significantly reducing its financial liabilities.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 6:58 am

Shares of crypto-linked stocks are trading lower amid weakness in Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 3:28 pm

Argo Blockchain has secured £6.5 million from an institutional investor through a private placement. The funds will be used for working capital, general corporate purposes, and debt repayment. The company will issue 57.8 million ordinary shares at £0.1125 per share, along with warrants to purchase an equal number of shares at the same price over five years.

Portfolio Pulse from Benzinga Newsdesk

July 30, 2024 | 6:47 am

Argo Blockchain reported consistent Bitcoin mining revenue of $2.9 million for June 2024, with a production of 44 BTC and mining margins of approximately 30%. The company held 11 BTC equivalent as of June 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:01 pm

Argo Blockchain has extended its loan with Galaxy Digital until December 28, 2024, significantly reducing its interest expenses. The remaining loan balance is now $5.7 million, down from $35 million in December 2022. Monthly interest expenses are expected to drop from $440k in July 2023 to $78k in July 2024.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 6:55 am

The article highlights the performance of various Information Technology stocks during Friday's after-market session. Notable gainers include Photronics, CommScope Holding, and Comtech Telecom, while significant losers include Ascent Solar Technologies, Red Cat Holdings, and Viasat.

Portfolio Pulse from Benzinga Insights

May 24, 2024 | 8:31 pm

HC Wainwright & Co. analyst Kevin Dede has reiterated a Neutral rating on Argo Blockchain (NASDAQ:ARBK).

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 12:23 pm

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