Argo Blockchain's stock price experienced a difficult month in July due to concerns about the company's debt payment. The company announced a capital raise of over 5.75 million pounds, but investors disliked diluting shares and underperforming Bitcoin miners. The Q1 loss of $9 million and Bitcoin's recent decline to $29,000 exacerbated the situation.
On Tuesday, June 6, before the market opens, Argo Blockchain ($ARBKF) will release its most recent quarterly earnings information. Analysts anticipate the company to report quarterly earnings of ($0.08) per share.
(3.3% Gain in Argo Blockchain Stock)
On Friday, shares of Argo Blockchain stock opened at $1.27. Debt to equity for the company is 4.67, current ratio is 1.13, and quick ratio is also 1.13. The company's fifty-day and two-hundred-day simple moving averages are $1.39 and $1.35, respectively. The 12-month low and 12-month high of Argo Blockchain are $0.36 and $6.95, respectively.
Peter Wall, the former CEO of Argo Blockchain, has been appointed as the Sustainable Bitcoin Protocol's (SBP) new Senior Advisor. With a thorough understanding of the Bitcoin mining industry, Wall is well-positioned to advance SBP's initiatives to realize Bitcoin's potential as one of the most sustainable asset classes and to connect Bitcoin with institutional investors who are concerned about the environment.
The Argo Blockchain share price is linked to the price of Bitcoin. In that context, the most important factor behind the company’s positive start to the year is the crypto market recovery, led by a 48% Bitcoin price rally relative to the value of sterling in 2023.A return to a ‘risk on’ environment in crypto markets is good news for the firm.
Argo Blockchain shares collapsed as planned fundraising falls through. It's shares fell after it said that it no longer expects to carry out a share subscription with a strategic investor, and warned it would need to complete further financing to avoid curtailing or ceasing operations.
hot as heck right now ...
Argo Blockchain shares have tanked. ARBKF shares were a popular investment when growth stocks were in favor during the pandemic. Many investors viewed the shares as a way to capitalize on the explosive rise of Bitcoin.
Unfortunately though, the crypto miner has produced disappointing investment returns lately.
Seems solid with multiple price targets over $23. It seems like a good entry point at $7.50? I am in.
Argo Blockchain Reports Record-Level Third Quarter 2021 Operating Results
Nov 1, 2021 5:23PM EDT
Argo Blockchain PLC Expansion of mining capacity
Source: UK Regulatory (RNS & others)
RNS Number : 4636N
Argo Blockchain PLC
30 September 2021
30 September 2021
Argo Blockchain PLC
("Argo" or "the Company")
Expansion of mining capacity
Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to announce that it has executed a purchase agreement for 20,000 Bitmain Antminer S19J Pro machines, to be paid in periodic installments before final shipment. The initial deposit is currently being funded by the Company's cash reserves. The machines are expected to increase Argo's hashrate by over 2 Exahash and are expected to be delivered and installed at the Company's future Texas facility in monthly batches from Q2 2022 through Q3 2022. Based on existing capacity and previous orders, Argo's mining capacity is expected to be 1.7 Exahash by mid-Q4 2021. This expansion will bring the Company's total mining capacity to 3.7 Exahash by the end of Q3 2022. The Company is pleased to continue and strengthen its longstanding relationship with Bitmain.
This announcement contains inside information and forward looking statements, including with respect to delivery schedules and future hashrate. Actual results could differ from those described herein for a variety of reasons, including unanticipated delays in machine delivery due to component supply shortages or other reasons, or disruptions to the Company's current mining fleet that could reduce future hashrate. For a more complete discussion of factors that could cause our actual results to differ from those described in this announcement, please refer to the filings that Company makes from time to time with the FCA and the United States Securities and Exchange Commission, including the section entitled "Risk Factors" in the Company's Registration Statement on Form F-1.
I would think if your an American buy ARBK, Canadian buy ARBKF. Even if you're Canadian I would still use ARBK, because of the higher volume on the Nasdaq
I'm not in either right now, weird situation ...
Which one do you buy ARBKF OR ARBK?
What a stupid idea. It's a fake reverse split. They've made two products which are bad mirrors of each other. Computer trader bots will be playing with this all day long. If the two amounts are not identical then the difference can be exploited as scam trades will begin stealing pennies from investors, all legal and ridiculous.
It is my understanding that ARGO will trade in 3 places: London; Canada and now the US. The initial valuation was 10 X the Canadian Share value. Our shares (ARBKF) will still trade.
I believe that is what the PR had mentioned.
Isn't ARBK 10 to 1 ARBKF ? At least that's what I thought was going on with it. 10 to 1
Listening to Blonity I thought I heard him say the IPO will be happening around the 23rd of Sept....plus he mentioned around $20 per share or is it $20 per ADS or $2.00 per share?
They are listing on the highest tier on Nasdaq.
My interpretation is that it goes away.
“Argo said each ADS would represent 10 of its ordinary shares.”
If I read this properly we will have 1 share of arbk for every 10 of arbkf.
Argo Blockchain PLC on Tuesday said it was assuming an initial public offering price of $18.40 per American depositary share in its initial public offering of 7.5 million ADSs in the U.S.
The company said its shares trade on the London Stock Exchange Main Market under the symbol "ARB," and on the OTCQX Best Market under the symbol "ARBKF." Argo Blockchain said it applied to list its ADSs on the Nasdaq Global Market under the symbol "ARBK."
The company said it based its assumption of $18.40 per ADS on the last reported sale price of its shares at GBP1.334, or $1.84 per ordinary share, on the London Stock Exchange on Sept. 10.
The company said the actual offering price "will be determined between us and the underwriters at the time of pricing, and may be at a discount to the current market price of our ordinary shares on the LSE."
Argo said each ADS would represent 10 of its ordinary shares.
The company said it is a "blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies."
See argos website. Basically nothing.— Mike Wainwright (@mikk2k2) September 15, 2021
that was my ? yesterday
trying to recall how that transitions the OTCB shares when heading NASDAQ. 1-10 with $20 pps?
Argo Announces Launch of Initial Public Offering
LONDON, September 14, 2021--(BUSINESS WIRE)--Argo Blockchain Plc (LSE: ARB; OTCQX: ARBKF), ("Argo" or the "Company"), a global leader in sustainable blockchain infrastructure and cryptocurrency mining, today announced that it has commenced an initial public offering of 7,500,000 American Depositary Shares ("ADSs"), representing an aggregate of 75,000,000 ordinary shares. Each ADS represents 10 ordinary shares of Argo Blockchain. The last closing price of Argo Blockchain's ordinary shares on the London Stock Exchange Main Market was $1.848 on September 10, 2021. The ADSs are being offered in a registered public offering in the United States (the "Offering"). Argo Blockchain has applied to list the ADSs on the Nasdaq Global Market under the ticker symbol "ARBK."
Jefferies and Barclays are acting as the lead book-running managers for the Offering. Canaccord Genuity and Stifel GMP are acting as co-lead-managers for the Offering. Compass Point, D.A. Davidson & Co., Ladenburg Thalmann, Roth Capital Partners, finnCap Ltd, and Tennyson Securities are acting as co-managers for the Offering.
The Offering is being made only by means of a prospectus filed with the U.S. Securities and Exchange Commission (the "SEC"). When available, copies of the prospectus relating to and describing the terms of the proposed Offering may be obtained from any of the following sources:
Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com, or
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or by email at email@example.com.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction.
The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
This announcement contains inside information.
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210914005886/en/
Carissa Felger/Genevieve Pirrong
Gasthalter & Co.
Argo Blockchain Provides August Operational Update
September 3, 2021
In this article:
News of new installed machines will give a nice push imo.
We are a multi-talented, dynamic team of mining and blockchain network experts, technologists, entrepreneurs, and engineers from all walks of life. Our mission is centred on running an efficient mining infrastructure that supports the continued growth, innovation, and function of the world’s top blockchain networks.
Cryptocurrencies are the future of money and are poised to revolutionize our global economy. Their universal access allows anyone with an internet connection to utilize the power of this innovative technology. The full implications of decentralized currencies remain to be seen, but Argo is prepared to adapt and be a major player in this industry for decades to come.
Cryptocurrency mining is the process of verifying transactions and adding new blocks to a blockchain ledger. Each new block of transactions has a complex mathematical hash function associated with it that requires significant computing power to solve. The miner who solves the function first receives a Bitcoin reward for supporting the network and adding a new block to the blockchain. A higher mining hashrate corresponds to increased mining success.