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    ARB   GB00BZ15CS02

ARGO BLOCKCHAIN PLC

(ARB)
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Argo Blockchain Takes $25 Million Bitcoin-Backed Loan to Fund Expansion

09/10/2021 | 03:15am EDT

By Jaime Llinares Taboada

Argo Blockchain PLC said Friday that it has taken a $25 million Bitcoin-backed loan from Galaxy Digital LP.

The cryptocurrency miner, which already has an outstanding $20 million loan with Galaxy Digital, said the money will be used to continue to build its West Texas data center and to meet operating cash flow requirements.

"The loan will enable Argo to retain its current Bitcoin holding, whilst further expanding its mining operations," Argo said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

09-10-21 0314ET

All news about ARGO BLOCKCHAIN PLC
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10/18ARGO BLOCKCHAIN : Barclays Starts Argo Blockchain at Overweight with $22 Price Target
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10/07ARGO BLOCKCHAIN : Monthly Bitcoin Production Drops in September
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10/07Argo Blockchain plc Reports the Revenue Results for the Month of September 2021
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09/30ARGO BLOCKCHAIN : Purchases 20,000 Bitmain Antminers For Texas Facility
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09/30ARGO BLOCKCHAIN : Orders 20,000 Bitmain Antminer Machines to Boost Hashrate
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Analyst Recommendations on ARGO BLOCKCHAIN PLC
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Financials
Sales 2021 79,6 M 110 M 110 M
Net income 2021 44,7 M 61,6 M 61,6 M
Net Debt 2021 65,9 M 90,7 M 90,7 M
P/E ratio 2021 13,5x
Yield 2021 -
Capitalization 579 M 797 M 797 M
EV / Sales 2021 8,10x
EV / Sales 2022 5,21x
Nbr of Employees 9
Free-Float 95,7%
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Technical analysis trends ARGO BLOCKCHAIN PLC
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Mean consensus BUY
Number of Analysts 2
Last Close Price 124,00 GBX
Average target price 236,00 GBX
Spread / Average Target 90,3%
EPS Revisions
Managers and Directors
Peter Wall Executive Chairman & Chief Executive Officer
Alex Appleton COO, Finance Director & Executive Director
Perry Hothi Chief Technology Officer
Abdulrahman Hamdy Technical Systems Manager
Matthew Shaw Independent Non-Executive Director
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