Cryptocurrency mining company Argo Blockchain is looking at a potential secondary listing on the Nasdaq, it is also to note that the firm was the first blockchain network to be listed on the London Stock Exchange.
A publicly traded blockchain technology company, Argo Blockchain specializing in crypto mining, is considering a Nasdaq secondary listing.
As part of its operational and strategy update for June 2021, the firm said on Tuesday that it is now looking into the prospect of a secondary listing on the Nasdaq.
Argo Blockchain stated that the company has not yet made a decision on the secondary listing’s date, adding that “the listing will not be finalized.”
The business noted, “Any planned listing is subject to market and other factors, and there can be no certainty as to whether or when the proposed listing will be accomplished.”
Argo Blockchain revealed in its most recent update that the firm mined a total of 167 Bitcoin (BTC) with a mining profit rate of 78% and a mining income of 4.4 million British pounds ($6 million).
Argo Blockchain’s total mining revenue to date is 883 BTC, and the firm expects to hold 1,286 BTC or a comparable amount by the end of the month, according to the announcement.
The crypto sector saw “huge shifts” in the month of June, according to the CEO of Argo Blockchain, Peter Wall, alluding to a significant fall in the total global hash rate and mining difficulty as a result of China’s crackdown on crypto mining.
“Argo has taken advantage of these shifts, delivering robust revenue at an exceptional margin,” the firm said.
Argo Blockchain was the first cryptocurrency mining firm to list on the London Stock Exchange in 2018, issuing over 159 million ordinary shares at a price of 16 British pounds ($22).
According to TradingView statistics, the stock has risen dramatically since its initial public offering, reaching an all-time high above 280 pounds ($387) in February.
The ARB stock is selling at 125 pounds ($173) at the time of writing, down about 2% in the last 24 hours.