An update from Argo Blockchain ( (GB:ARB) ) is now available.
Argo Blockchain has announced its entry into non-binding term sheets to acquire the assets of GEM Mining LLC and secure a $10 million investment, which includes a $7 million secured convertible note and a $3 million equity investment. This acquisition is expected to more than double Argo’s hashrate, enhance efficiencies, and increase Bitcoin production, while also providing growth capital. The transaction is seen as a significant step towards profitable growth and strengthening Argo’s capital structure, although it remains subject to shareholder approval and other conditions.
More about Argo Blockchain
Argo Blockchain plc is a dual-listed blockchain technology company focused on large-scale cryptocurrency mining. It operates a mining facility in Quebec and has offices in the US, Canada, and the UK. Argo is committed to sustainable operations powered predominantly by renewable energy and became the first climate-positive cryptocurrency mining company in 2021.
YTD Price Performance: -35.00%
Average Trading Volume: 55,746
Technical Sentiment Signal: Buy
Current Market Cap: $27.85M
Find detailed analytics on ARB stock on TipRanks’ Stock Analysis page.