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Cryptocurrency miner Argo acquired a 25% stake in Pluto Digital Assets for £1 million to become the lead investor in the company.
Pluto is a crypto venture capital and technology company that connects Web 3.0 decentralised technologies to the global economy.
Pluto invests in, incubates and advises digital asset projects based on decentralised technologies (DeTech), decentralised finance (DeFi) and networks such as Ethereum and Polkadot.
'Argo's management believes that this investment into a proof-of-stake focused digital assets company complements its position in the Bitcoin and proof-of-work consensus mechanism,' the company said.
This investment of approximately £1 million at 3p per share, as part of an investment round of £2.5 million, had been satisfied entirely by the contribution of the company's holding of 75,000 Polkadot, which were originally purchased in Q1 2019 at a cost of US$75,000. Argo's DOT contribution was valued at $19.43 per DOT.
The company announced filing a draft Registration Statement with the US Securities and Exchange Commission for dual-listing and IPO of American Depositary Shares.
Trading is slated to commence in Q3 2021 after completion of SEC review and will be based on market and other conditions.
Argo Blockchain, one of the leading cryptocurrency mining firms, today released its financial results for the six months ended 30 June 2021. The company posted strong growth in revenues and pre-tax profit.
According to the results, the revenues of Argo Blockchain reached £31.1 million in H1 2021, which is 180% higher compared to the same period in 2020. The latest jump in revenues was mainly driven by an increase in production and a surge in the price of Bitcoin.
Argo also reported a pre-tax profit of £10.7 million for the first six months of 2021, compared to £0.5 million in H1 2020. Earnings before interest, tax, depreciation and amortization (EBITDA) jumped by 332% to £16 million in H1 2021.
Argo Blockchain plc quote is equal to 129.050 GBX at 2021-07-31. Based on our forecasts, a long-term increase is expected, the "ARB" stock price prognosis for 2026-07-24 is 911.779 GBX. With a 5-year investment, the revenue is expected to be around +606.53%. Your current $100 investment may be up to $706.53 in 2026.
400k buy at 40. Friday... late buys coming in... looking forward to monday. Big buzz going around this share. 2022 could be £3
55p