Argo Blockchain (ARB)

Sector:

IT Services

15.95p
   
  • Change Today:
    -2.25p
  • 52 Week High: 80.00
  • 52 Week Low: 2.50
  • Currency: UK Pounds
  • Shares Issued: 477.83m
  • Volume: 7,654,872
  • Market Cap: £76.21m
  • RiskGrade: 1,097

Argo Blockchain doubles number of mining machines on order

By Josh White

Date: Wednesday 30 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Enterprise-scale cryptocurrency mining company Argo Blockchain has amended and expanded its existing order for mining equipment from supplier Bitmain, it announced on Wednesday.

The London-listed firm said its existing order for 5,000 'Antminer S17' machines, costing $13.09m (£10.16m) had been replaced by an order for 10,000 'Antminer T17' machines, costing $9.51m.

Its existing S17 downpayment of $6.546m would be applied against the amended order, and the outstanding balance was fully fundable from Argo's cash resources.

Argo said it had decided to pursue the opportunity for more machines, as the amended order was "significantly superior" in terms of total mining efficiency, and would enable it to grow its overall mining capacity further.

The total number of crypto mining machines now on order totalled 10,500, consisting of the amended order, and 500 Antminer S17s that were awaiting delivery.

Argo said it was expecting that the amended order would be delivered in batches from early December, and would increase the size of its mining estate to 17,000 machines, increasing its total mining capacity by 240%.

"This amended order represents another significant expansion of our mining infrastructure to become the world's biggest publicly listed cryptominer," said Argo Blockchain executive chairman Mike Edwards.

"Moving from the S17 to the T17 increases our mining output considerably.

"Our strong balance sheet and cash flow means we can continue to invest to take advantage of favourable industry conditions and position Argo for long-term growth and value creation."

As at 1132 GMT, shares in Argo Blockchain were up 0.26% at 7.57p.

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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 15.95p
Change Today -2.25p
% Change -12.36 %
52 Week High 80.00
52 Week Low 2.50
Volume 7,654,872
Shares Issued 477.83m
Market Cap £76.21m
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
13:11 50,359 @ 15.85p
13:06 3,988 @ 15.82p
13:06 1,464 @ 16.17p
13:06 2,033 @ 15.82p
13:05 3,901 @ 16.17p

Argo Blockchain Key Personnel

Chair Matthew Shaw

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