Argo Blockchain (ARBK)
NASDAQ:ARBK
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Argo Blockchain
(NASDAQ:ARBK)
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Rating:39Underperform
Price Target:
$3.50
▼(-5.15% Downside)
Action:ReiteratedDate:01/13/26
The score is driven primarily by severe financial weakness (losses, negative cash generation, and negative equity). Technicals add further downside risk with a strong long-term downtrend despite an oversold RSI, and valuation provides limited support due to a loss-making (negative P/E) profile and no indicated dividend yield.
Positive Factors
Recapitalization via restructuring
A court-approved restructuring equitized debt and injected cash, restoring shareholder equity above $10M. This materially improves solvency and reduces immediate default risk, giving management breathing room to stabilise operations, invest in mining capacity, and pursue diversification over the medium term.
Negative Factors
Severely negative profitability
Extremely negative net margins and minimal gross margin reflect that core operations are not covering costs and signal deep operational inefficiency. Sustained losses undermine internal capital generation, force reliance on external financing, and make profitable scaling difficult without structural cost reductions or higher realized coin prices.
Read all positive and negative factors
Positive Factors
Negative Factors
Recapitalization via restructuring
A court-approved restructuring equitized debt and injected cash, restoring shareholder equity above $10M. This materially improves solvency and reduces immediate default risk, giving management breathing room to stabilise operations, invest in mining capacity, and pursue diversification over the medium term.
Read all positive factors
Argo Blockchain (ARBK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.84M
Dividend YieldN/A
Average Volume (3M)14.35M
Price to Earnings (P/E)―
Beta (1Y)1.11
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees30
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)N/A
Shares Outstanding333,638
10 Day Avg. Volume34,810,876
30 Day Avg. Volume14,346,985
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)-1.18
Price to Sales (P/S)0.72
P/FCF Ratio-0.78
Enterprise Value/Market Cap4.58
Enterprise Value/Revenue1.09
Enterprise Value/Gross Profit-12.99
Enterprise Value/Ebitda-1.64
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8.64
Revenue Forecast (FY)$105.20M
Argo Blockchain Business Overview & Revenue Model
Company Description
Argo Blockchain plc, together with its subsidiaries, engages in the bitcoin and other cryptocurrencies mining business worldwide. It engages in mining purpose-built computers for cryptographic algorithms. The company was formerly known as GoSun Bl...
How the Company Makes Money
Argo Blockchain generates revenue primarily through cryptocurrency mining, where it earns Bitcoin rewards for validating transactions on the blockchain. The company operates its own mining hardware and has invested in efficient mining technologies...
Argo Blockchain Earnings Call Summary
Earnings Call Date:Nov 20, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook for Argo Blockchain. While the company made significant strides in reducing debt and exploring new revenue streams through high-performance computing, it faced notable challenges in its core Bitcoin mining business, including decreased revenues, negative profitability metrics, and operational uncertainties at Helios.Positive Updates
Debt Reduction Achievements
Argo reduced its debt by $12.4 million during the quarter, including full repayment of the Galaxy loan. This early repayment came four months ahead of schedule, improving cash flow and strengthening the balance sheet.
Negative Updates
Decrease in Mining Revenue and Margins
Q3 2024 revenue was $7.5 million, down from $12.4 million in Q2 2024. Mining margin dropped to 8% from 58% the previous year due to lower Bitcoin prices and higher energy costs.
Read all updates
Q3-2024 Updates
Positive
Negative
Debt Reduction Achievements
Argo reduced its debt by $12.4 million during the quarter, including full repayment of the Galaxy loan. This early repayment came four months ahead of schedule, improving cash flow and strengthening the balance sheet.
Read all positive updates
Company Guidance
In the Q3 2024 earnings call, Argo Blockchain provided detailed guidance on its financial performance and strategic initiatives. The company reported mining 123 Bitcoin, generating $7.5 million in revenue for the quarter, and $36.7 million for the nine months ending September 30, 2024. The mining margin significantly decreased to 8% from 58% in the prior year due to lower Bitcoin prices and higher energy costs. Argo posted a net loss of $6.3 million for Q3 and $39.2 million for the first nine months of 2024, with adjusted EBITDA at negative $2.1 million for the quarter. The company successfully reduced its debt by $12.4 million, fully repaying the Galaxy loan. Looking ahead, Argo plans to diversify revenue streams by exploring a High Performance Computing (HPC) expansion at Baie-Comeau, which could add up to 23 megawatts of capacity. This strategic pivot aims to mitigate volatility in Bitcoin mining by tapping into growing markets like AI. Argo's capital allocation strategy will prioritize growth opportunities while maintaining financial discipline.Argo Blockchain Financial Statement Overview
Summary
Income Statement
30
Negative
Balance Sheet
20
Very Negative
Cash Flow
25
Negative
| Breakdown | TTM | Dec 2024 | Mar 2024 | Mar 2023 | Mar 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 33.05M | 48.52M | 57.72M | 58.58M | 98.75M | 25.84M |
| Gross Profit | -2.76M | 1.46M | 3.10M | 11.36M | 69.22M | 5.34M |
| EBITDA | -21.91M | -33.04M | -2.95M | -189.03M | 68.65M | 10.39M |
| Net Income | -36.69M | -55.10M | -34.64M | -228.96M | 39.07M | 1.97M |
Balance Sheet | ||||||
| Total Assets | 9.08M | 19.26M | 75.94M | 110.23M | 388.15M | 44.49M |
| Cash, Cash Equivalents and Short-Term Investments | 1.85M | 8.63M | 7.83M | 20.54M | 124.88M | 9.12M |
| Total Debt | 40.26M | 40.16M | 62.52M | 75.88M | 72.94M | 10.22M |
| Total Liabilities | 46.55M | 48.74M | 75.78M | 85.66M | 115.88M | 11.33M |
| Stockholders Equity | -37.47M | -29.48M | 158.00K | 24.58M | 272.27M | 33.15M |
Cash Flow | ||||||
| Free Cash Flow | -62.80M | -44.80M | -49.07M | -209.28M | -225.20M | 970.33K |
| Operating Cash Flow | -62.79M | -44.80M | -47.96M | -101.24M | -37.02M | 3.43M |
| Investing Cash Flow | 53.19M | 55.07M | 50.80M | 17.32M | -183.07M | -1.44M |
| Financing Cash Flow | 4.37M | -9.32M | -15.78M | 84.18M | 233.06M | 579.20K |
Argo Blockchain Technical Analysis
Positive
3.69
Price Trends
2.94
Positive
9.12
Negative
41.81
Negative
Market Momentum
-0.09
Negative
45.69
Neutral
73.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ARBK, the sentiment is Positive. The current price of 3.69 is above the 20-day moving average (MA) of 2.91, above the 50-day MA of 2.94, and below the 200-day MA of 41.81, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 45.69 is Neutral, neither overbought nor oversold. The STOCH value of 73.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ARBK.
Argo Blockchain Risk Analysis
Argo Blockchain disclosed 92 risk factors in its most recent earnings report. Argo Blockchain reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Argo Blockchain Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
56 Neutral | $7.01B | -2.15 | -21.05% | ― | 42.40% | -72.16% | |
46 Neutral | $512.73M | -60.68 | -11.98% | ― | 5.10% | -242.85% | |
45 Neutral | $20.29M | 1.61 | ― | ― | -1.27% | ― | |
45 Neutral | $25.57M | -0.21 | 424.23% | ― | -32.92% | 53.41% | |
45 Neutral | $366.26M | -7.54 | -33.34% | ― | 3.07% | -157.38% | |
39 Underperform | $7.84M | -0.41 | ― | ― | ― | ― |
* Financial Sector Average
ARBK
Argo Blockchain
3.26
-86.40
-96.36%
RIOT
Riot Platforms
18.50
10.60
134.18%
GREE
Greenidge Generation Holdings
1.25
0.21
20.19%
BTBT
Bit Digital
1.57
-0.41
-20.71%
MIGI
Mawson Infrastructure Group
4.66
-7.02
-60.10%
FUFU
BitFuFu
2.20
-1.15
-34.33%
Argo Blockchain Corporate Events
Argo Blockchain Shareholders Approve All Resolutions at 15 January 2026 General Meeting
Jan 16, 2026
At a general meeting of shareholders held on 15 January 2026, Argo Blockchain plc reported that all resolutions put to a poll were duly passed, indicating strong shareholder support for the board’s agenda. The successful approval of all item...
Argo Blockchain Regains Nasdaq Compliance on Minimum Bid Price
Jan 8, 2026
On 5 January 2026, Argo Blockchain plc was formally notified by Nasdaq that it had regained compliance with the exchange’s minimum bid price requirement and met all other criteria for continued listing on the Nasdaq Global Select Market. Thi...
Argo Blockchain Calls January 2026 General Meeting After London Delisting
Dec 30, 2025
On 30 December 2025, Argo Blockchain plc announced it has convened a general meeting for 15 January 2026 in London to vote on the reappointment of director Ralfe Hickman and to consider granting directors authority to allot securities without pre-...
Argo Blockchain Hands 87.5% Stake to Growler in Court-Approved Restructuring
Dec 18, 2025
On December 11, 2025, Argo Blockchain plc’s court-sanctioned restructuring plan under Part 26A of the UK Companies Act became effective and was implemented on December 15, 2025, resulting in a comprehensive balance sheet and ownership overha...
Argo Blockchain Completes Restructuring and Expands into AI and HPC
Dec 16, 2025
On December 16, 2025, Argo Blockchain plc announced the completion of its UK restructuring plan, marking a pivotal step in its strategic transformation. The restructuring plan, approved by the High Court of Justice, enhances Argo’s competiti...
Argo Blockchain Announces Share Ratio Change and Note Redemption
Dec 12, 2025
On December 12, 2025, Argo Blockchain completed a significant change in the ratio of its ordinary shares to American Depositary Shares, adjusting it from 10:1 to 2,160:1. This adjustment coincides with the announcement by Nasdaq regarding the rede...
Argo Blockchain Updates Restructuring Plan Ahead of December Meetings
Nov 28, 2025
Argo Blockchain plc announced updates to its proposed restructuring plan under Part 26A of the Companies Act 2006, including a supplementary circular to the explanatory statement. The updates address questions raised during a convening hearing and...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.