Cryptocurrency mining, exposure to cryptocurrencies without physically trading, potentially a good hedge for the portfolio
Provides crypto currency services. Customers can mine Ethereum and other altcoins. Presently a steal at 3 pence at 3pm today. Year high is 13.10 pence so has the chance to make great gains once crypto takes off again, which it will. BTC has recently been rallying and altcoins too.
They completely changed their strategy back in Feb, no more crypto mining for customers from 1st April. Therefore 3p isn’t a steal, as it’s not clear what their new strategy is going to be…
By the way, I’m very much in favour of your efforts to get more shares added - I think Freetrade are being very short sighted in ignoring 99% of AIM at present, and I hope this changes in the near future.
Hi Tom, yes, I’m aware that because of the sharp decline in crypto currencies Argo stopped their mining contracts to customers. The company is temporarily moving away from mining as a service (MaaS) to mining directly for its own account as they want to be in a strong position for when the crypto market improves. Argo intends to continue to be a market leader in Proof of Work mining while at the same time exploring Proof of Stake mining technology with the goal of ultimately providing a leading product offering and trusted brand in both areas. Despite headwinds, the company is now mining profitably on all hardware purchased since inception.
Current profits of this company are over $1.5m per month - expected to nearly triple by year end (when new mining gear commissioned). All this with a MCap of just £23m. Expect this share to fly in early part of 2020 - needs adding ASAP. (Currently 7.8p sp)
Maiden profit reported today
Stocks performing well now BTC is rallying, be good to have it included in ft.