Argo Blockchain sees sizable increase to mining operations, yet still trades at a significant discount to peers

Quick Take

  • Argo Blockchain, a publicly traded mining company, announced on Tuesday that it had installed approximately 9,500 Antminer T17’s since the new year
  • As a result, the company’s hash rate has increased from approximately 220 PH/s to 630 PH/s (an 185% increase), putting it at similiar computing power as Hut 8 and Bitfarms
  • Despite this, Argo currently trades at a 68% discount to market cap and an 85% discount to enterprise value when compared to Hut 8
Despite a sizable increase in operations over the last month, Argo Blockchain, a London-based mining company, trades at a significant discount to its peers. In August 2018, the company raised about $32.5 million through an IPO on the LSE. Since then, the company has utilized that capital to expand its mining operations within Canada. Argo […]

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