Argo Blockchain (ARB)

Sector:

IT Services

16.29p
   
  • Change Today:
    -1.91p
  • 52 Week High: 80.00
  • 52 Week Low: 2.50
  • Currency: UK Pounds
  • Shares Issued: 477.83m
  • Volume: 6,908,460
  • Market Cap: £77.82m
  • RiskGrade: 1,097

Argo Blockchain ups quarterly guidance following better than expected trading

By Iain Gilbert

Date: Monday 03 Jun 2019

LONDON (ShareCast) - (Sharecast News) - Cryptomining service Argo Blockchain upped its second-quarter guidance by 57% on Monday after experiencing "significantly better than expected" trading conditions over the last six weeks.
Argo said results for May were materially ahead of internal budgets, prompting the directors to review and significantly raise their expectations for the second quarter of the year.

The London-listed group said its better than anticipated performance was a result of a continued improvement in market conditions and faster-than-planned implementation of newly acquired hardware.

Argo saw mining yields from existing hardware improve in line with strongly rising crypto prices of roughly 49% since its last operational update in early May and now expects to have generated approximately £685,000 worth of crypto assets last month.

Looking forward, Argo now anticipates generating roughly £2.85m worth of crypto assets - approximately £1m or 57% higher than its previously announced estimate of £1.81m.

Executive chairman Mike Edwards said: "I am very pleased with our results and progress as we continue to implement our strategy in a cost-conscious and disciplined manner.

"Our timely actions, together with our ongoing investment in mining capability, means we will not only comfortably beat our original expectations but also position Argo for long term growth."

As of 1020 BST, Argo shares had shot up 19.81% to 6.29p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Argo Blockchain Market Data

Currency UK Pounds
Share Price 16.29p
Change Today -1.91p
% Change -10.52 %
52 Week High 80.00
52 Week Low 2.50
Volume 6,908,460
Shares Issued 477.83m
Market Cap £77.82m
RiskGrade 1,097

Argo Blockchain Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.90% above the market average79.90% above the market average79.90% above the market average79.90% above the market average79.90% above the market average
85.26% above the sector average85.26% above the sector average85.26% above the sector average85.26% above the sector average85.26% above the sector average
Price Trend
95.92% below the market average95.92% below the market average95.92% below the market average95.92% below the market average95.92% below the market average
92.23% below the sector average92.23% below the sector average92.23% below the sector average92.23% below the sector average92.23% below the sector average
Income Not Available
Growth
95.48% above the market average95.48% above the market average95.48% above the market average95.48% above the market average95.48% above the market average
97.96% above the sector average97.96% above the sector average97.96% above the sector average97.96% above the sector average97.96% above the sector average

Argo Blockchain Dividends

No dividends found

Trades for 09-Feb-2023

Time Volume / Share Price
12:36 1,166 @ 16.06p
12:34 309 @ 16.07p
12:33 421 @ 16.07p
12:32 9,219 @ 16.06p
12:30 3,034 @ 16.07p

Argo Blockchain Key Personnel

Chair Matthew Shaw

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