Argo Blockchain is one of the companies mining Bitcoin and other cryptos. It is a public company that is listed on the Nasdaq exchange. Its mining volume jumped to 219 BTC in July from 179 BTC in July 2018. The company has huge growth potential and is well-funded. As of Aug. 31 of this year, Argo had mined 206 Bitcoins and 210 Bitcoin equivalents, and has a loan balance of $22 million with Galaxy Digital.
The company offers enterprise-scale crypto mining services. In June, Argo Blockchain’s mining activity surpassed analyst expectations. However, the recent COVID-19 ban on bitcoin mining is negatively affecting the company’s stock price. Unlike other companies, Argo Blockchain is the first crypto miner to be listed on the LSE.
The company is also a technology leader, implementing state-of-the-art cooling systems that minimize equipment wear and power consumption. It recently acquired 320 acres of land in Texas. Despite the recent turbulence in the bitcoin mining industry, the company has continued to produce record revenue. It plans to build a 200-megawatt mining facility.
The company’s IPO is expected to list on Sep. 23, bringing in $112.5 million. Argo Blockchain is primarily listed on the London Stock Exchange, with American depositary shares on the Nasdaq. It also trades on the over-the-counter market as “ARBKF.”