Cryptominer Argo Blockchain announces strong sales growth and outstrips expectations

Cryptominer Argo Blockchain announces strong sales growth and outstrips expectations
04.12.2018 10:42 am

Cryptominer Argo Blockchain announces strong sales growth and outstrips expectations

Blockchain , Cryptocurrencies

Argo, a leading UK-based provider of cryptocurrency mining services (LSE:ARB), is pleased to announce continuing strong growth as sales of its subscription packages continue to exceed
The total number of sold packages increased by 146 per cent from 4,200 as at 1 October to 10,325 as of today after a new batch of mining packages sold out immediately on release to the market. As a result, the Company’s target number of packages by January 2019 has been beaten by a significant margin ahead of scheduleArgo estimates its current annualised revenue run-rate at approximately $6.2m (£4.8m), up from $0.26m at the time of its London stock market listing in August 2018. Net cash amounted to approximately £15m as at 30th November.

Mike Edwards, co-founder and director of Argo, said: “Argo has come a long way since its inception only a year ago. Despite a recent downturn in the cryptocurrency market, we are continuing to experience a strong ramp-up in revenues due to good execution of our growth strategy.

“Our mining packages are being snapped up as quickly as we make these available and demand continues to exceed supply. With a strong balance sheet and prudent management of our investment in growth, Argo’s long-term prospects remain bright and we look to the future


Related News

Exscudo to launch a debit card with higher cashback than any European bank

The blockchain startup Exscudo is planning to issue a debit card promising to deliver financial tools that no other banking product in Europe can match even remotely! By... Read more »


The Global Blockchain Business Council (GBBC), the leading industry association for the blockchain ecosystem, announces the launch of its Legal and Regulatory Group (LRG).... Read more »

Token 2049: Ethereum Supermeetup 2019 Recap

As part of the Token 2049 event, the Ethereum Supermeetup 2019 is the first of its kind held at the luxurious Kerry... Read more »

IBM Blockchain World Wire, a New Global Payment Network, to Support Payments and Foreign Exchange in More Than 50 Countries

MONEY 20/20: IBM (NYSE: IBM) today announced IBM Blockchain World Wire, a real-time global payments network for regulated financial institutions, is officially accessible in a... Read more »

Nodal Labs signs £250m deal with Minstrell Recruitment

Nodal Labs, the world’s first blockchain-powered freelance marketplace, has today announced a £250m partnership deal with Minstrell Recruitment, which will streamline its... Read more »

Invesco launches blockchain ETF with Elwood Asset Management

Invesco is launching an innovative ETF (exchange traded fund) designed to target companies with potential to generate real earnings from blockchain technology. The Invesco... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App