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Argo Blockchain Sees Mining Revenue Rise Tenfold in 2019

Publicly-listed mining company Argo Blockchain had a tenfold increase in revenue for 2019 over the previous year, ProactiveInvestors reports on Jan. 20. Its shares bounced as the company plans further expansion in the upcoming year.

Argo Blockchain PLC is a company operating mining rigs for profit, as well as providing Mining-as-a-Service (MaaS) to institutional investors who are “looking to hold specific coins but do not want to procure via exchanges.”

Argo Blockchain

Based in London and listed on the London Stock Exchange (LSE), its mining capacity is reportedly based in Quebec, leveraging the region’s cheap hydroelectric power.

In a trading update, the firm reports that it expects revenues for 2019 to be £8.5 million ($11 million), a more than tenfold increase from 2018’s £760,000 ($987,000) figure, despite a significant slowdown in the last quarter of the year as markets cooled off. Read More...