The cryptocurrency firm, Argo Blockchain was first listed on London Stock Exchange and now looking to expand into Nasdaq listing.
Argo Blockchain announced that the firm is investigating the possibility of getting listed on Nasdaq as a part of a strategic update for June 2021. Although, the firm has not decided the timing for secondary listing yet. The company stated:
“Any proposed listing is subject to market and other conditions, and there can be no assurance as to whether or when the proposed listing may be completed.”
According to the reports, the firm mined about 167 Bitcoin, with mining revenue of $6M and mining profit at 78%. Moreover, the total mining revenue of Argo Blockchain till date is 883 BTC. With the report, it is expected that the firm would hold about 1,286 BTC by the end of June.
“Big Chances” in June
The Argo Blockchain’s CEO, Peter Wall, described that the crypto-industry is experiencing “Big Changes” referring to the collapse in mining. As a result of the crypto ban in China, the market experienced this pull back. But Argo has financed on these changes and managed to deliver strong revenue at an impressive profit.
Consequently, Argo Blockchain was the first crypto mining company to list on London Stock Exchange in 2018. The number of ordinary shares were about 159 million at the price of $0.22.
According to data, the stock has risen significantly since its initial public offering, reaching an all-time high of more than $3.9 in February. At the time of writing, the trading price of ARB is 123.05 pounds ($1.70), which fell down to 3.87 in 24-hours.
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