HomeFinancial MarketsPenny StocksWhy are Argo Blockchain plc (ARBKF) shares on the up?

Why are Argo Blockchain plc (ARBKF) shares on the up?

With its subsidiary, Argo Blockchain Canada Holdings Inc., Argo Blockchain plc is engaged in ‎crypto asset mining worldwide. Argo Blockchain plc was initially known as GoSun Blockchain ‎Limited and changed its name to Argo Blockchain plc in December 2017.‎

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Argo Blockchain plc (ARBKF)price closed at $1.500 on Tuesday, up+69.11% from the day ‎before. The stock reached $1.600 in the same session, while the lowest price was $1.030. ‎The company’s17,721,413 shares changed hands on the last trading day. The company has a ‎market cap of 377.458M.‎

Latest Highlights ‎

  • On January 6, 2021, Argo Blockchain (LSE: ARB), one of the leading cryptocurrency ‎miners in the U.K., has announced the following operational update for ‎December. Argo mined 96 Bitcoins during December versus 115 Bitcoin Equivalents ‎in November. This brings the total amount of Bitcoins mined thus far this year to ‎‎2,465 Bitcoins. In December, the profits from mining were £1.63 million based on ‎daily foreign exchange rates and the price of cryptocurrencies during the month. ‎December revenue generated by Argo amounted to approximately 60% mining ‎margin on average.‎
  • On December 30, 2020, As one of the world’s largest cryptocurrency miners, Argo ‎Blockchain (OTC: ARBKF) announced that it has invested in Luxor ‎Technologies’hashrate management platform. As one of the world’s largest ‎cryptocurrency miners, Argo Blockchain (OTC: ARBKF) announced that it has invested ‎in Luxor Technologies’hashrate management platform.‎
  • A $100,000 investment from Argo into Luxor will allow Luxor to hire key engineers to ‎boost its hash rate management platform’s development. Since its inception, Luxor ‎has supported over 28,000 miners globally, mining over USD 45 million in ‎cryptocurrency. Today, Luxor has secured a seed funding round to develop its proof-of-work software infrastructure further.‎
  • ARBKF announced it has applied to the Financial Industry Regulatory ‎Authority to cross-trade its shares on the U.S. OTCQB Venture Market, under ‎the ticker ARBKF, thus making Argo’s shares more widely available to North ‎American investors.‎

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