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Argo Blockchain Q1 numbers – the bitcoin price surges and guess what?

By Tom Winnifrith | Thursday 23 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

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.
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