Argo Blockchain (ARBK), a British-based cryptocurrency mining company with operations in North America, operates more than 21,000 mining machines. Potential investors are eager to hear about Argo Blockchain’s stock forecast. How high? could arrive by 2025?
The company is listed on the London Stock Exchange and is in the process of a dual listing on the Nasdaq through a secondary US initial public offering. London-listed shares of Argo Blockchain have gained more than 420 percent in 2021 and 2,800 percent in the last 12 months.
How high can Argo Blockchain go?
The company plans to sell 7.5 million shares at $18.40 each in its US initial public offering. ., raising $138 million Nasdaq-listed shares are expected to begin trading on September 23 under the ticker “ARBK.” Investors can buy Argo Blockchain shares through Robinhood Access the IPO before it be made public. The height of the stock after its debut on the Nasdaq will depend on its demand, which may be affected by cryptocurrency market conditions.
Argo Blockchain Stock Forecast for 2025
Argo, which mines Bitcoin and other cryptocurrencies, mined 206 Bitcoins in August 2021, bringing its total number of Bitcoins mined in 2021 to 1,314. Argo’s Bitcoin holding at the end of August was 1,659.
Cryptocurrency price trends, particularly Bitcoin, will have a significant impact on Argo shares. The flagship cryptocurrency is currently trading above $45,000 and could rise more than 600 percent to $300,000 by 2025. Growing interest from institutional investors in cryptocurrencies and El Salvador’s support for Bitcoin as legal tender have boosted Bitcoin prospects.
Is Argo Blockchain a good long-term investment?
In 2020, the company’s revenue increased year-over-year (year-over-year) to $26 million from $12 million, and in the first half of 2021, Argo’s revenue increased year-over-year to $42.9 million from $ 15 million. The company is also profitable, with its net profit rising to $10 million in the first half of 2021 from $2 million in all of 2020.
Argo recently used its Bitcoin stake as collateral to secure a $45 million loan from Galaxy Digital. It intends to use the loan to finance the expansion of its operations, including the construction of a crypto mining facility in Texas.
Argo Blockchain shares may attract investors aware of climate change. The company focuses on the use of renewable energy in its crypto mining operations, and its upcoming facility in Texas will run primarily on renewable energy. Tesla has promised to resume accepting Bitcoin payments if most of its mining switches to renewable energy. Wider adoption of Bitcoin as a payment could increase the value of the crypto, making Argo mining more lucrative.
The best blockchain stocks to buy
Other blockchain stocks worth looking at are Riot Blockchain (RIOT), Marathon Digital (MARA), and Bit Digital (BTBT). Like Argo Blockchain, these companies are into cryptocurrency mining, with Bitcoin mining forming a large part of their operations.