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Argo Blockchain ponders Nasdaq listing

By Dan Moore

08:22, 6 July 2021

Bitcoin collage

Cryptocurrency miner Argo Blockchain is contemplating a secondary listing on Nasdaq . The company has confirmed it has not made any decisions regarding the timing or terms of the potential listing, stating such considerations were subject to market and other conditions.

Mining up

The miner’s decision to comment on a possible secondary listing comes as it revealed its figures for June. During the month, Argo mined 167 bitcoin or bitcoin equivalent (together, BTC), compared with 166 BTC in May. So far this year, the operation has accumulated the equivalent of 883 bitcoins.

Based on daily foreign exchange rates and cryptocurrency prices throughout June, Argo Blockchain mining revenue totalled £4.36m, down from £5.51m in May.

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Argo on the move

Commenting on the prospective listing, Argo Blockchain CEO Peter Wall said: “June has seen big changes in the cryptocurrency sector, with the reduction in total global hash rate and mining difficulty as mining machines have come offline in China.

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“We’ve seen the global hash rate drop from over 150m TH/s to just 90m TH/s in the space of a month and mining difficulty adjusted to reflect this reduction.

“Argo has capitalised on these changes, continuing to deliver strong revenue at an impressive margin. We are also pleased to announce the exploration of a potential secondary listing on Nasdaq .”

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Read more: Can a Bitcoin Mining Council make crypto biodegradable?

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