Latest news with #ArgoBlockchain
Yahoo
02-08-2025
- Business
- Yahoo
Bitcoin Mining Profitability Last Month Hit Highest Level Since the Halving: JPMorgan
Bitcoin (BTC) miners enjoyed another strong month in July, with profitability reaching the highest level since the last halving event, Wall Street bank JPMorgan (JPM) said in a research report Friday. "Bitcoin miners earned an average of $57,400 per EH/s in daily block reward revenue in July, up 4% from June, representing the highest level since the halving," analysts Reginald Smith and Charles Pearce wrote. Still, "daily revenue and gross profit per EH/S are still 43% and 50% below pre-halving levels, respectively," the authors wrote. The Bitcoin halving is a quadrennial event where the reward for mining new blocks is halved. The most recent halving was in April 2024, reducing the reward from 6.25 to 3.125 BTC per block. The monthly average network hashrate, a proxy for competition in the industry and mining difficulty, rose 4% to 899 exahashes per second (EH/s) in July, after a decline in June in response to warmer temperatures, the analysts wrote. Mining difficulty was 9% higher at the end of last month, and 48% higher than before the last halving event, the report said. Ten of the thirteen U.S.-listed miners that the bank tracks outperformed bitcoin in July. In terms of stock performance, Argo Blockchain (ARBK) outperformed with a 66% gain, while Core Scientific (CORZ) underperformed the group with a 21% decline, the report added.
Associated Press
29-07-2025
- Business
- Associated Press
Nasdaq Delisting Notice and Hearing Request
London, United Kingdom July 28, 2025 --( )-- Argo Blockchain plc ('Argo' or the 'Company') Argo Receives Nasdaq Delisting Notice and Intends to Request a Hearing As previously announced, on 16 January 2025, Argo Blockchain plc (LSE: ARB; Nasdaq: ARBK) received a letter from The Nasdaq Stock Market LLC Listing Qualifications Department ('Nasdaq') indicating that it was not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5450(a)(1) because the bid price of Argo's American Depositary Shares ('ADSs') closed below $1.00 per share for 30 consecutive business days. Argo announces today that it received a letter from Nasdaq dated 18 July 2025, indicating that Argo has not regained compliance with the minimum bid price requirement pursuant to the cure period provided by Nasdaq Listing Rule 5810(c)(3)(A) by the prescribed deadline of 15 July 2025, and that, as a result, Nasdaq has determined to delist Argo's ADSs from the Nasdaq Global Select Market. In accordance with the Nasdaq Listing Rules, Argo intends to request a hearing before a Nasdaq Hearings Panel. The hearing request will automatically stay any suspension or delisting action pending the conclusion of the hearings process and it is expected that the Company's securities will continue to trade on Nasdaq under its trading symbol: ARBK. There can be no assurance that Argo will be able to regain compliance with the minimum bid price requirement or will otherwise be in compliance with all other applicable Nasdaq Listing Rules, or that Argo's hearing will be successful. If Argo's securities are suspended from trading on or delisted from Nasdaq, it could become more difficult to buy or sell Argo's ADSs or to obtain accurate quotations, and the price of Argo's ADSs could suffer a material decline. Further announcements will be made as appropriate. This announcement contains inside information. For further information please contact: Argo Blockchain Investor Relations [email protected] Tennyson Securities Corporate Broker Peter Krens +44 207 186 9030 Fortified Securities Joint Broker Guy Wheatley, CFA +44 7493 989014 [email protected] Tancredi Intelligent Communication UK & Europe Media Relations [email protected] About Argo: Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit This release contains information about Argo management's view of future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors and are subject to certain assumptions, risks, uncertainties and changes in circumstances. If Argo is unable to regain compliance with the Nasdaq minimum bid price requirement and its hearing is unsuccessful, its ADSs will be delisted from the Nasdaq Global Select Market. If the ADSs are delisted from the Nasdaq Global Select Market, they may trade on the over-the-counter market, which may be a less liquid market. In such case, your ability to trade, or obtain quotations of the market value of, the ADSs could be severely limited because of lower trading volumes and transaction delays. These factors could contribute to lower prices and larger spreads in the bid and ask prices for the ADSs. Contact Information: Argo Blockchain plc Investor Relations +44 203 434 2330 Contact via Email Read the full story here: Nasdaq Delisting Notice and Hearing Request Press Release Distributed by
Coin Geek
27-06-2025
- Business
- Coin Geek
US pushes for 'crypto' ambition amid environmental crisis
Getting your Trinity Audio player ready... The United States has solidified its position as the global leader in block reward mining, commanding over 40% of the world's hash rate as of May 2025. The 2021 China's crypto ban drove miners to the United States, where affordable energy, supportive policies, and robust infrastructure create an ideal environment. States like Texas, Wyoming, and Georgia offer electricity rates as low as $0.08 per kilowatt-hour and business-friendly regulations, attracting major players like Riot Platforms (NASDAQ: RIOT) and Core Scientific (NASDAQ: CORZ). The Trump administration's pro-crypto stance has accelerated the digital mining industry's growth, with relaxed environmental regulations and streamlined permitting processes spurring the development of new mining facilities. Texas, with its deregulated energy market and abundant natural gas, is a prime destination for block reward mining. It hosts some of the largest operations globally, including Argo Blockchain (LSE: ARB), which acquired 320 acres of land in West Texas in 2021. However, the proposed 36% tariffs on imported mining equipment announced on April 2 threaten profitability by increasing operational costs. For the block reward mining sector, which heavily depends on imported hardware from Southeast Asia and China, these tariffs present immediate challenges and create a transformative opportunity. Energy availability remains a critical but challenging factor. While competitive rates provide an advantage, grid strain during peak demand periods can lead to outages or price spikes, disrupting operations. Miners are mitigating these risks by securing long-term energy contracts or investing in renewable sources like solar and wind, aligning with growing environmental concerns. Bitcoin mining's estimated 150 TWh annual consumption has drawn scrutiny from climate advocates, pushing the industry toward sustainable practices. Institutional investors, including firms like BlackRock (NASDAQ: BLK), are exploring stakes in mining companies, driving consolidation as larger players acquire smaller operations to boost efficiency. However, local communities, particularly in Texas, are resisting mining's environmental and noise impacts, with lawsuits over cooling fan noise escalating. In October 2024, Citizens Concerned About Wolf Hollow filed a lawsuit at the District Court for Hood County, accusing Marathon Digital (NASDAQ: MARA) of failing to reduce excessive noise pollution caused by its mining operations. These tensions could lead to stricter local regulations, challenging the industry's expansion. 'In such a short time, Bitcoin mining has completely altered our community, for the worse. The around-the-clock mining isn't just driving up our electricity bills — it's costing us our health. We feel trapped. Day and night, we are subjected to relentless noise that is physically harming us. We aren't asking for much — just for Marathon to take responsibility and restore our peace and well-being,' one Granbury resident said. The U.S.'s dominance in Bitcoin mining will likely persist, but miners must navigate tariff risks, energy volatility, and community concerns to maintain their global edge. Strategic adaptation and investment in sustainable practices will be key to sustaining leadership in this dynamic market. Watch: Bitcoin mining in 2025: Is it still worth it? title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen=""> Block Reward Mining Donald Trump Tariff Texas Trump Administration United States
Reuters
24-03-2025
- Business
- Reuters
UK's Argo Blockchain names Justin Nolan CEO
March 24 - British cryptocurrency miner Argo Blockchain (ARB.L), opens new tab on Monday named Justin Nolan as its chief executive officer.
