Argo Blockchain raised new funds through a private share placement.
The publicly-listed Bitcoin mining company will use the money for debt repayment.
Bitcoin miner Argo
Blockchain, listed
on both Wall Street and the London Stock Exchange (LSE), has announced a £6.5 million private placement agreement with an
institutional investor. The deal involves the issuance of 57,800,000 ordinary
shares at £0.1125 per share on the LSE, along with warrants to purchase an
additional 57,800,000 shares at the same price.
Argo Blockchain Secures
£6.5 Million in Private Placement Deal
The
placement price represents a premium to Argo's recent trading averages and a
10% discount to the closing price on July 29. H.C. Wainwright & Co. is
serving as the exclusive placement agent for the transaction.
Argo plans
to use the net proceeds for working capital, general corporate purposes, and
debt repayment. The company expects the placement shares to be admitted to
trading on the London Stock Exchange's Main Market around July 31, 2024.
“The net
proceeds of the Private Placement will be used by the Company for working
capital and general corporate purposes, including the repayment of indebtedness,”
the company commented.
Following
the placement, Argo's total issued share count will increase to 636,352,148.
The newly issued shares and any shares from exercised warrants will have equal
ranking with existing ordinary shares.
On the Nasdaq,
the miner's shares (ARBK) tested the $2 level during Monday's session, the
highest in over three months. However, before the session ended, they fell to
$1.6. Meanwhile, on the LSE (ARB), the company's shares did not react strongly
to the latest information on Tuesday and are trading around 11 pence, after
testing the 13.5 pence level on Monday, which was the high from April.
Crypto Miner Reduced
Losses
Argo
Blockchain operates cryptocurrency mining facilities in Quebec and Texas, with
a focus on sustainable practices powered by renewable energy. Recent financial
reports from Argo paint a picture of improving performance and strategic
adjustments in the face of industry headwinds.
In its
latest quarterly update, the company reported a revenue of $16.8 million,
marking a 4% increase from the previous quarter and an impressive
year-over-year growth of nearly 50%. This uptick in revenue was accompanied by
a substantial reduction in net loss, which decreased to $3.2 million—a third
of what it was in the prior period.
Thomas Chippas, Argo. Source: LinkedIn
“We exited
the Bitcoin halving with cash of over $12 million, Q1 debt reduction of over
$12 million and streamlined Quebec operations resulting from the sale of
Mirabel,” commented Thomas Chippas, the Chief Executive Officer of Argo.
“We are enthusiastic about Argo's future growth and development and are
dedicated to delivering value to our shareholders.”
Looking
back at the full-year results for 2023, Argo demonstrated resilience in a
challenging market environment. The company managed to achieve a modest gross
profit. In addition, it saw an 85% reduction in losses compared to the previous
year, indicating progress in the company's efforts to streamline operations and
improve financial health.
Bitcoin miner Argo
Blockchain, listed
on both Wall Street and the London Stock Exchange (LSE), has announced a £6.5 million private placement agreement with an
institutional investor. The deal involves the issuance of 57,800,000 ordinary
shares at £0.1125 per share on the LSE, along with warrants to purchase an
additional 57,800,000 shares at the same price.
Argo Blockchain Secures
£6.5 Million in Private Placement Deal
The
placement price represents a premium to Argo's recent trading averages and a
10% discount to the closing price on July 29. H.C. Wainwright & Co. is
serving as the exclusive placement agent for the transaction.
Argo plans
to use the net proceeds for working capital, general corporate purposes, and
debt repayment. The company expects the placement shares to be admitted to
trading on the London Stock Exchange's Main Market around July 31, 2024.
“The net
proceeds of the Private Placement will be used by the Company for working
capital and general corporate purposes, including the repayment of indebtedness,”
the company commented.
Following
the placement, Argo's total issued share count will increase to 636,352,148.
The newly issued shares and any shares from exercised warrants will have equal
ranking with existing ordinary shares.
On the Nasdaq,
the miner's shares (ARBK) tested the $2 level during Monday's session, the
highest in over three months. However, before the session ended, they fell to
$1.6. Meanwhile, on the LSE (ARB), the company's shares did not react strongly
to the latest information on Tuesday and are trading around 11 pence, after
testing the 13.5 pence level on Monday, which was the high from April.
Crypto Miner Reduced
Losses
Argo
Blockchain operates cryptocurrency mining facilities in Quebec and Texas, with
a focus on sustainable practices powered by renewable energy. Recent financial
reports from Argo paint a picture of improving performance and strategic
adjustments in the face of industry headwinds.
In its
latest quarterly update, the company reported a revenue of $16.8 million,
marking a 4% increase from the previous quarter and an impressive
year-over-year growth of nearly 50%. This uptick in revenue was accompanied by
a substantial reduction in net loss, which decreased to $3.2 million—a third
of what it was in the prior period.
Thomas Chippas, Argo. Source: LinkedIn
“We exited
the Bitcoin halving with cash of over $12 million, Q1 debt reduction of over
$12 million and streamlined Quebec operations resulting from the sale of
Mirabel,” commented Thomas Chippas, the Chief Executive Officer of Argo.
“We are enthusiastic about Argo's future growth and development and are
dedicated to delivering value to our shareholders.”
Looking
back at the full-year results for 2023, Argo demonstrated resilience in a
challenging market environment. The company managed to achieve a modest gross
profit. In addition, it saw an 85% reduction in losses compared to the previous
year, indicating progress in the company's efforts to streamline operations and
improve financial health.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
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In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
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Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
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🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
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Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
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Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
