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Argo Blockchain completes 'fast and furious' fundraise and says 'Bitcoin keeps on getting better'

Argo Blockchain PLC's (LON:ARB) (OTCQX:ARBKF) Peter Wall talks to Proactive's Katie Pilbeam about completing their 'fast and furious' £26.8m fundraise that it says will allow it to complete a follow-on investment in Pluto Digital Assets.

The cash will also be used for the acquisition of 320 acres of land in West Texas, US, following a non-binding letter of intent with DPN LLC signed in February.

Wall is also considering the option to invest in more machinery if there is an opportunity to do so.

Selling some of their Bitcoin was not an option as Wall explains, 'we look at cash as a melting ice cube and we look at Bitcoin as a shiny piece of gold that just keeps on getting better so we want to keep hold of our digital gold'.

Quick facts: Argo Blockchain PLC

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Price: 127.4 GBX

Market Cap: £486.45 m

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Argo Blockchain reports 180% revenue increase in first half of the year

Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, FRA:0XP) (LON:ARB) (OTCQX:ARBKF) CEO Peter Wall tells Proactive long-term profitability and sustainability is paramount for the group, as it reports a profit surge in its first half as a boom in Bitcoin prices and an expansion of its crypto mining...

on 08/09/2021

2 min read