The shares of Argo Blockchain PLC (LON: ARB) were trading 5.6% higher at GBP 0.42 on Friday, after the digital currency mining company announced the appointment of Michael Stott as an independent non-executive director. Stott is a co-founder and current chief executive officer of GoldStream Minerals Ltd, a Canadian gold exploration company listed on the Toronto Stock Exchange Venture Exchange.
The Argo Blockchain share price has been on the rise in recent months, as investors have become increasingly bullish on the prospects of the company. Founded in 2017, Argo is a leading provider of cryptocurrency mining services, and its shares are listed on the London Stock Exchange.
In May of this year, Argo became the first publicly listed cryptocurrency mining firm in the world.
Since then, its share price has soared, and it is now one of the top performers on the London Stock Exchange.
Argo’s success is due to a number of factors. Firstly, its business model is very sound.
It offers a subscription-based service that allows customers to mine various cryptocurrencies without having to deal with any of the associated hardware or software costs. Secondly, it has an experienced management team that knows how to scale a business quickly and efficiently. Finally, it has secured partnerships with some of the biggest names in the cryptocurrency industry, including Bitmain, one of the largest manufacturers of cryptocurrency mining equipment.
Investors are clearly confident in Argo’s ability to continue growing at a rapid pace. The share price reflects this optimism, and I believe there is still plenty of upside potential for this stock.
Argo Blockchain Share Price Forecast
It’s been a tough year for cryptocurrency investors, with most digital assets losing a significant portion of their value. However, there are still some pockets of the market that have performed well, and one of those is Argo Blockchain (LSE:ARB).
The company operates a cryptocurrency mining platform and has seen its share price increase by over 1,400% since the start of 2020.
There are a number of factors that could be driving this strong performance.
First, Argo has benefited from the overall growth in the cryptocurrency market. Bitcoin, the largest digital asset by market capitalisation, is up over 60% this year, while other major coins like Ethereum and Ripple have also posted strong gains.
This has helped to drive demand for mining services like Argo’s.
Second, the company has executed well on its growth plans. It has rapidly expanded its mining operations and now has around 10% of global Bitcoin hashrate capacity under management.
This gives it a strong position in an industry that is consolidating rapidly.
Third, Argo has been one of the few companies in the space to generate consistent profits. In the first half of 2020, it reported revenue of $16 million and EBITDA of $12 million.
This is thanks to its focus on efficiency and cost-controls – two areas where many other miners have struggled.
Looking ahead, Argo looks well-positioned to continue its strong performance.
Credit: www.cmcmarkets.com
Is Arbk a Good Stock to Buy?
ARBK is a good stock to buy because it has strong fundamentals and is trading at a discount. The company’s share price has been volatile in recent months, but this presents an opportunity for investors to get in at a lower price. ARBK has a solid balance sheet with little debt, and its earnings have been growing steadily.
The company is also expanding its operations, which should drive future growth.
Does Arbk Pay a Dividend?
Yes, ARBK pays a dividend. The current dividend yield is 1.85%.
What is the Difference between Arbk And Arbkf?
There are a few key differences between ARBK and ARBKF. First, ARBK is focused on providing banking services to rural communities, while ARBKF provides banking services to both rural and urban communities. Second, ARBK offers a wide range of products and services specifically designed for rural customers, while ARBKF offers a more limited range of products and services.
Finally, ARBK is a cooperative bank owned by its member-customers, while ARBKF is a commercial bank owned by shareholders.
BANKRUPT Will Argo Blockchain survive to see 2023?
Conclusion
Argo Blockchain, a UK-based cryptocurrency mining company, is currently trading at £4.20 per share on the London Stock Exchange (LSE). The stock has been on a tear lately, up nearly 400% since December 2020. Argo is one of the largest publicly traded crypto companies in the world, with a market capitalization of over £1 billion.
The company operates two large-scale mining facilities in Quebec, Canada and Iceland.
The recent surge in Argo’s stock price can be attributed to several factors. First, Bitcoin’s price has more than tripled since December 2020 and is now hovering around $40,000 per coin.
This has led to increased interest in cryptocurrency mining companies like Argo that have the infrastructure to mine Bitcoin and other digital currencies. Second, Argo has been aggressively expanding its business operations in recent months. The company recently announced plans to build a third mining facility in Texas and launch a new line of cryptocurrency ATMs.
Finally, Argo has been working hard to increase its visibility among investors. The company went public on the LSE last August and has since embarked on an aggressive marketing campaign that includes sponsoring Formula One racing teams and hiring celebrity endorsements (including actor Bruce Willis).
