Crypto mining firm Argo Blockchain eyes secondary Nasdaq listing

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Argo Blockchain, a publicly traded blockchain expertise firm centered on cryptocurrency mining, is taking a look at a possible secondary itemizing on the Nasdaq trade.

On Tuesday, the corporate announced that it’s now exploring the potential for a secondary itemizing on the Nasdaq as a part of its operational and strategic replace for June 2021.

Argo Blockchain mentioned that the agency has not but reached a choice on the timing of the secondary itemizing, noting that “There is no guarantee that the listing will be finalized,” and, “Any proposed listing is subject to market and other conditions, and there can be no assurance as to whether or when the proposed listing may be completed.”

As a part of the most recent replace, Argo Blockchain disclosed that the corporate mined a complete of 167 Bitcoin (BTC) with a mining income of 4.4 million British kilos ($6 million) and a mining revenue price of 78%. According to the announcement, Argo Blockchain’s whole mining income stands at 883 BTC year-to-date, and the corporate tasks to carry 1,286 BTC or an equal quantity by the top of the month.

Argo Blockchain CEO Peter Wall mentioned that the crypto trade confronted “big changes” in June, referring to a big discount within the whole world hash price and mining problem amid a crackdown on crypto mining in China. “Argo has capitalized on these changes, continuing to deliver strong revenue at an impressive margin,” the agency famous.

Related: China crypto ban a ‘huge opportunity for Canada,’ mining group head says

As beforehand reported, Argo Blockchain turned the primary crypto-mining firm listed on the London Stock Exchange in 2018, putting over 156 million peculiar shares at 16 British pence ($0.22) per share. The inventory has considerably surged since itemizing, reaching an all-time excessive above 2.80 kilos ($3.90) this February, in line with information from TradingView.

At the time of writing, the ARB inventory is buying and selling at 1.25 kilos ($1.70), down round 2% over the previous 24 hours.

ARB inventory chart in British pence. Source: TradingView