UK 08:38 Wednesday, 7 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Argo Blockchain (ARB) has served up an update on June trading where it is what is not said that should alarm punters although what is said is hardly encouraging. This company is now on a nine month countdown to be unable to refinance maturing debt and just has no plan as to how to do it. We are on a nine month countdown to oblivion. As a bonus the bitcoin price seems to be tanking.
First of all, can I say a very big thank you to all the generous readers who sponsored my 100 kilometre walk last weekend for fighting Motor Neurone Disease. Our small group, including ShareProphets reader, Nick Mauger raised over £8,000 including gift aid way above our £6,000 target
In the land of the simpleton folks assume that when the Bitcoin price surges the perma dog Argo Blockchain (ARB) suddenly becomes a cash cow. But as Boatman capital has explained that is not the case. Whatever the bitcoin price, Argo is a cash guzzling dog. And so we haveq1 calendar 2024 numbers in which Argo boasts of cutting its borrowings by $12.4 million. Impressed? You won’t be, that is misleading.
Another monthly update from Argo Blockchain (ARB) and, once again, it is the mystery of the dog that barked. They mystery is that there was no bark. There is no ,mention of profits or cashburn. This is still a company that I expect to go to zero next year.
The word on the street is that Argo Blockchain (ARB) is, despite flogging its Mirabel facility, still looking to raise up to $25 million to help repay its borrowings which now stand at c$54 million. Natch’ there is no mention of that in a March operational update out today and it is not the only omission.
As the bitcoin price surges, it is now $63,719, shares in bitcoin miners should also be surging. But shares in Argo Blockchain (ARB), 34p before the last placing in January, fall remorselessly each day and are now just 11.75p.The word on the street…
As I keep on reminding folks, whatever the bitcoin price Argo Blockchain (ARB) seems utterly unable to generate cash. Just look at what has happened since December 31 2023, nine weeks when bitcoin has surged and my pal Dominic Frisby tweets about that surge like a demon possessed. So Argo would be generating cash right? Er….no,
Excuses are like arseholes. We all have them and nobody cares. And so just four weeks after raising £7.8 million at 20.5p Argo Blockchain (ARB) has fessed to a piss poor January but of course it is not its fault. The shares are now 14.75p suggesting that the placees, suckered in by a ramp up to 34p, have already been well and truly bummed. But not as bummed as those private investors who fell for the ramp.
As I write, shares in Argo Blockchain (ARB) are trading, down again today, at 15p. Just 17 days ago some folks were paying 35p for the shares. If you have had your pants pulled down on this one you must be asking what the hell happened?
