Argo Blockchain Announces Nasdaq Listing

The mining company Argo Blockchain announced its readiness to list shares on Nasdaq in addition to listing on the London Stock Exchange.

The management will determine the timing and terms of the listing, basing them on market conditions.

Argo Blockchain’s market capitalization at the time of writing is £483 million ($669 million). Since the start of the year, shares have risen by 3.75x, while Bitcoin has gained 16.9%.

According to the press release, in June the company mined 167 BTC ($5.64 million at current prices). Year-to-date, the figure increased to 883 BTC ($29.85 million). At present, Argo Blockchain holds 1,268 BTC ($42.8 million).

The company owns three facilities in Canada with a total installed capacity of 35 MW.

Mining revenue in June amounted to £4.36 million ($6.04 million), versus £5.51 million in May ($7.63 million). Mining profitability declined from 82% to 78%.

“Argo has benefited from these changes [events in China], continuing to generate impressive profits”, — said the company’s CEO Peter Wall.

In June, Argo Blockchain secured a loan from Galaxy Digital for the construction of a 200 MW Texas mining pool.

In March, Argo Blockchain purchased a land parcel the size of 185 football fields for the construction of a data centre. The facility will use energy from renewable sources.

In the same month, the company signed a memorandum of understanding with blockchain company DMG Blockchain Solutions to create a ‘green’ mining pool.

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