Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
After becoming the first blockchain firm listed on the London Stock Exchange, Argo Blockchain is now looking at a potential secondary listing on the Nasdaq.
Argo Blockchain, a publicly traded blockchain technology company focused on cryptocurrency mining, is looking at a potential 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 that the firm has not yet reached a decision on the timing of the secondary listing, noting that âThere is no guarantee that the listing will be finalized,â and, âAny 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.â
As part of the latest update, Argo Blockchain disclosed that the company mined a total of 167 Bitcoin (BTC) with a mining revenue of 4.4 million British pounds ($6 million) and a mining profit rate of 78%. According to the announcement, Argo Blockchainâs total mining revenue stands at 883 BTC year-to-date, and the company projects to hold 1,286 BTC or an equivalent amount by the end of the month.
Argo Blockchain CEO Peter Wall said that the crypto industry faced âbig changesâ in June, referring to a significant reduction in the total global hash rate and mining difficulty amid a crackdown on crypto mining in China. âArgo has capitalized on these changes, continuing to deliver strong revenue at an impressive margin,â the firm noted.
Related: China crypto ban a âhuge opportunity for Canada,â mining group head says
As previously reported, Argo Blockchain became the first crypto-mining company listed on the London Stock Exchange in 2018, placing over 156 million ordinary shares at 16 British pence ($0.22) per share. The stock has significantly surged since listing, reaching an all-time high above 2.80 pounds ($3.90) this February, according to data from TradingView.
At the time of writing, the ARB stock is trading at 1.25 pounds ($1.70), down around 2% over the past 24 hours.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.