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Argo Blockchain Bitcoin Miner Aims to Double Hashrate with GEM Mining Acquisition
- The crypto company enters non-binding term sheets for a $21.7 million asset purchase and a $10 million investment.
- It also announced this week a change in CEO, who will need to fill a $6.3 financial gap.
Wednesday, 26/03/2025 | 08:29 GMT by
Damian Chmiel
Former Wall Street Bitcoin Miner Exec Returns After 2 Years as CEO, Faces $6.3M Financial Gap to Fill
- Justin Nolan recently served as CEO at Arkon Energy and previously helped develop Argo's Helios project.
- Now he returns to lead the cryptocurrency mining company's efforts to get back to profitability.
Monday, 24/03/2025 | 08:25 GMT by
Damian Chmiel
Bitcoin Miner from Wall Street Deploys 7,800 Bitcoin Miners in Tennessee-Quebec Split
- Argo Blockchain secures hosting arrangement with Merkle Standard for over 5,000 Bitcoin miners in Memphis.
- The company expects to have one-third of its previously Helios-hosted miners operational by February's end.
Monday, 27/01/2025 | 08:01 GMT by
Damian Chmiel
This Bitcoin Wall Street Miner's CEO Departs, Company Posts $6.3 Million Loss
- Argo Blockchain CEO Thomas Chippas announces departure while the company struggles to make a profit.
- Despite loan repayment success, the crypto miner faces ongoing profitability challenges, including lowering Bitcoin production.
Tuesday, 21/01/2025 | 07:57 GMT by
Damian Chmiel
Wall Street Bitcoin Miners Report Lower November Production Despite BTC Rising to $100,000
- Major BTC miners reported mixed November production results amid a 7% network difficulty increase.
- Although production declined for the 5th consecutive month, higher crypto prices led to a nearly 25% increase in revenue.
Wednesday, 04/12/2024 | 08:02 GMT by
Damian Chmiel
Bitcoin Miner Argo Blockchain Secures £4.2M Lifeline as Mining Margins Shrink
- The Wall Street BTC miner raised £4.2M through a share placement to fund strategic initiatives and working capital needs.
- The company plans to use the proceeds to expand into high-performance computing amid challenging market conditions.
Monday, 02/12/2024 | 07:38 GMT by
Damian Chmiel
Top Wall Street Bitcoin Miners Report August Dip as Digital Gold Rush Slows
- Major publicly traded Bitcoin mining companies reported decreased production in August compared to July.
- Factors including increased network difficulty and power costs contributed to the decline.
Thursday, 05/09/2024 | 07:45 GMT by
Damian Chmiel
This Wall Street Bitcoin Company Mines Revenue despite Bitcoin Drought
- Although the number of mined cryptos fell almost 50%, Argo Blockchain reported an 18% revenue increase in H1 2024.
- However, the net loss was further deepened by loan repayments and impairment on mining rigs.
Wednesday, 28/08/2024 | 07:10 GMT by
Damian Chmiel
This Wall Street Bitcoin Miner Paid Off Its Massive Debt 18M before the Initial Deadline
- Argo Blockchain has fully repaid its $35 million loan from Galaxy Digital ahead of schedule.
- The loan saved the BTC miner from potential bankruptcy at the end of 2022.
Monday, 12/08/2024 | 07:00 GMT by
Damian Chmiel
Crypto Miner Sells Data Center for $6.1M as Its Shares Plunge 55% in 2024
- Argo Blockchain closes Mirabel's sale and reduces debt by $12.4 million.
- However, its shares on the LSE and NASDAQ are experiencing the most pronounced decline within the crypto industry.
Thursday, 28/03/2024 | 08:33 GMT by
Damian Chmiel
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