Argo Blockchain Reports Q3 2024 Financial Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 21 2024
0mins
Should l Buy ?
Source: Business Insider
Earnings Report Overview: Argo Blockchain Plc reported Q3 2024 revenue of $7.5 million, down from $10.4 million the previous year, with a net loss of $6.3 million, an improvement from last year's $9.9 million loss. The company mined 123 Bitcoin during the quarter, resulting in a reduced mining margin of 8%.
Future Plans and Expansion: Despite recent challenges, Argo Blockchain is pursuing growth opportunities, including a significant expansion at its Baie-Comeau facility in partnership with BE Global Development Limited, and aims to diversify into the AI computational market beyond Bitcoin mining.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
