Crypto Mining Company Argo Blockchain Considering Secondary Nasdaq Listing

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Argo Blockchain, a publicly traded blockchain technology company specializing in cryptocurrency mining, is considering a possible secondary listing on the Nasdaq exchange.

On Tuesday, the company announced that it is now exploring the possibility of a secondary listing on the Nasdaq as part of its operational and strategic update for June 2021.

Argo Blockchain said the company has yet to make a decision on the timing of the secondary listing, noting that there is no guarantee the listing will be finalized. Any proposed listing is subject to market and other conditions, and there can be no assurance that or when the proposed listing can be completed, the company said.

As part of the latest update, Argo Blockchain revealed that the company mined a total of 167 Bitcoin (BTC) with mining income of £ 4.4million ($ 6million) and a profit rate. mining by 78%. According to the announcement, Argo Blockchains’ total mining revenue stands at 883 BTC since the start of the year, and the company expects to hold 1,286 BTC or an equivalent amount by the end of the month.

Argo Blockchain CEO Peter Wall said the crypto industry faced big changes in June, referring to a significant reduction in the total global hash rate and mining difficulties in part of the crackdown on crypto mining in China. Argo capitalized on these changes, continuing to generate strong revenues with an impressive margin, the company noted.

Related: China’s Crypto Ban Is A Huge Opportunity For Canada, Says Mining Group Chief

As previously reported, Argo Blockchain became the first crypto mining company to be listed on the London Stock Exchange in 2018, placing over 159 million common shares at 16 pounds sterling ($ 22). The stock has risen significantly since its listing, hitting an all-time high above 280 pounds ($ 387) in February, according to data from TradingView.

As of this writing, ARB stock is trading at 125 pounds ($ 173), down about 2% in the past 24 hours.

Source: TradingView

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