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An announcement from Argo Blockchain ( (GB:ARB) ) is now available.
Argo Blockchain plc announced its 2024 annual results, highlighting a challenging year marked by a 7% revenue decrease to $47.1 million and a significant net loss of $55.1 million, primarily due to asset impairment and reduced mining margins following the Bitcoin halving. Despite these challenges, the company achieved significant milestones, including the full repayment of its Galaxy debt, which strengthened its balance sheet. Argo’s strategic focus remains on financial discipline, operational excellence, and strategic partnerships to enhance its hashrate and market position. The company also announced the restoration of its listing, aiming to resume trading of its shares.
More about Argo Blockchain
Argo Blockchain plc is a dual-listed blockchain technology company focused on large-scale cryptocurrency mining. With operations in Quebec and offices in the US, Canada, and the UK, Argo’s global operations are predominantly powered by renewable energy. The company is recognized as the first climate-positive cryptocurrency mining company and is a signatory to the Crypto Climate Accord.
Average Trading Volume: 1,921,171
Technical Sentiment Signal: Sell
Current Market Cap: £17.93M
Find detailed analytics on ARB stock on TipRanks’ Stock Analysis page.