Argo Blockchain plc (OTCPK:ARBKF) Q2 2024 Earnings Call Transcript August 28, 2024 10:00 AM ET Company Participants Markella Zarifi - IR Thomas Chippas - CEO Jim MacCallum - CFO Operator [Technical Difficulty] PLC investor presentation. Throughout this recorded meeting, investors will be in listen-only mode.
Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP), a global cryptocurrency mining company, saw its share price drop by 7% after it updated on its crypto mining operations. In June, the company mined 44 Bitcoin, averaging 1.5 Bitcoin per day, the same as in May.
Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP)'s monthly mining output more than halved in May, as the London-listed bitcoin miner reckoned with the recent bitcoin Halving event. The Halving, which occurs every four years on the bitcoin ledger, slashes mining rewards by 50% as an anti-inflationary measure.
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Financial - Capital Markets Industry | Financial Services Sector | Mr. Justin Nolan CEO | OTC PINK Exchange | GB00BZ15CS02 ISIN |
GB Country | 30 Employees | - Last Dividend | - Last Split | 23 Sep 2021 IPO Date |
Argo Blockchain plc, a leading entity in the cryptocurrency mining industry, operates globally, focusing its efforts on the mining of bitcoin and other cryptocurrencies. The company utilizes specialized mining equipment designed for the purpose of solving complex cryptographic algorithms, a fundamental process in the generation of cryptocurrencies. Originally established as GoSun Blockchain Limited, it underwent a name change in December 2017 to become Argo Blockchain plc. This rebranding marked a significant step in its journey towards becoming a prominent name in the crypto mining sector. Founded in 2017 and headquartered in London, the United Kingdom, Argo Blockchain plc has rapidly positioned itself as a key player in the digital currency mining landscape worldwide.
Argo Blockchain plc specializes in the mining of bitcoin and various other cryptocurrencies, employing state-of-the-art mining rigs. These mining rigs are purpose-built computers that are designed to perform highly complex cryptographic calculations. This process is central to the creation and transaction validation of cryptocurrencies, making it a crucial service in the digital currency ecosystem.
The company is involved in the deployment and operation of specialized mining equipment dedicated to the processing of cryptographic algorithms. This equipment is engineered to meet the intensive demands of mining operations, ensuring high efficiency and performance in the cryptocurrency mining process. Argo Blockchain’s expertise in managing and optimizing these mining rigs allows them to achieve optimal results in cryptocurrency generation and validation.