Argo Blockchain mines the crypto vein amid market boom

  • Argo Blockchain’s Texas facility will allow it to stand out amid shift to renewable crypto mining, says broker
  • Argo Blockchain can benefit from Chinese BItcoin crackdown suggests broker
  • Argo Blockchain report ‘best in class’ results with focus on ‘growing intelligently’ in 2021
Bitcoin mining

Quick facts: Argo Blockchain PLC


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Argo is a publicly-traded blockchain technology company focused on large-scale cryptocurrency mining.

Headquartered in London, England, Argo is the only cryptocurrency mining company listed on the London Stock Exchange.

Its energy-efficient, powerful mining operations are strategically located throughout North America.

22 Jul 2021

(, , )’s new facility in Texas will allow the crypto miner to differentiate itself in the market through its access to “very low cost, renewable power”, according to analysts at finnCap.

In a note on Thursday, the house broker, which has a 220p target price on Argo, said the company’s energy source will “become increasingly important as global governments and investors scrutinise Bitcoin mining powered by non-renewables” while also predicting that the firm will “continue to benefit” from the recent crackdown on crypto mining in China.

finnCap also said Argo may benefit from the ongoing decline in the Bitcoin mining network’s difficulty as a result of the Chinese crackdown, which makes it easier for players in the market to acquire Bitcoin while using less computing power.

“As the medium-term impacts of the changes in China become clearer through H2 21, we will closely watch the development of the three key variables for Argo: the hash rate/network mining difficulty, the cost of mining machines, and the Bitcoin price”, the broker said.

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22 Jul 2021

() said it has broken ground on its 200-megawatt (MW) Helios cryptocurrency mining facility located in Dickens County in Texas.

The company said the facility, which will be powered predominantly by renewable energy, is expected to “transform” its mining capacity, with completion planned in the first half of 2022.

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12 Jul 2021

() said it has appointed Jean Esquier as vice president of technology & development and Theodore Papadakis as head of data centre operations.

The cryptocurrency miner said Esquier, the former director of engineering and research at one of North America’s largest mining co-location companies, will be responsible for overseeing Argo’s international partnerships, logistics and supply chain management, alternate site identification and development as well as immersion cooling operations.

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03 Jun 2021

Uncertainty around Bitcoin mining in China might provide a boost to () according to broker finnCap.

Market estimates suggest over 50% of Bitcoin is mined in China, and the Chinese government’s May announcement that it will crackdown on mining the cryptocurrency could materially reduce mining difficulty and benefit Argo.

The company’s transformational new facility in Texas also highlights that it is making strong progress towards differentiating by mining with very low cost, renewable power, said the broker.

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29 Apr 2021

‘s () Peter Wall catches up with Proactive London’s Katie Pilbeam after swinging into profit in 2020 with a surge in revenues.

In its results for the year to December 31, 2020, the company reported a net profit of GBP1.7mln compared to a GBP0.7mln loss in 2019 as revenues jumped 120% to GBP19mln.

Speaking to Pilbeam, Wall says ‘the goals for us were to be leaner and smarter and we’ve now done both of those things and put ourselves in a great place for 2021’.

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