Cryptocurrency mining company Argo Blockchain is considering secondary Nasdaq listing

Argo Blockchain, a publicly traded blockchain technology company focused on mining cryptocurrencies, is considering a possible secondary listing on the Nasdaq exchange.

On Tuesday the company did announced that it is currently examining the possibility of a secondary listing on the Nasdaq as part of a strategy and operational update for June 2021.

Argo Blockchain said the company has not yet made a decision on the timing of the secondary listing, noting that “there is no guarantee that the listing will complete”. “Any proposed listing is subject to market and other conditions and there are no guarantees that the proposed listing will be completed,” the company said.

As part of its latest update, Argo Blockchain announced that it has mined a total of 167 bitcoins (BTC) with mining sales of £ 4.4 million ($ 6 million) and a profit margin of £ 4.4 million ($ 6 million) has 78%. According to the announcement, Argo Blockchain’s total mining revenue is currently 883 BTC and the company expects to hold 1,286 BTC or equivalent by the end of the month.

Peter Wall, CEO of Argo Blockchain, says the crypto industry is facing “big changes” in June, pointing to a significant reduction in overall global hash rate and mining difficulties in the coming months. “Argo has benefited from these changes and has continued to generate strong sales with impressive margins,” the company stated.

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As previously reported, Argo Blockchain became the first cryptocurrency miner to list on the London Stock Exchange in 2018, placing more than 159 million common shares at £ 16 ($ 22). Shares have soared since it was listed, hitting an all-time high of over £ 280 ($ 387) in February, according to data from TradingView.

At the time of writing, ARB stock is trading at £ 125 ($ 173) which is down about 2% over the past 24 hours.