Shares tank 15 per cent for Argo Blockchain as it pens new crypto mining agreement

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City AM

By Leah Montebello Shares plunged nearly 15 per cent for Argo Blockchain after the cryptocurrency mining after penning an agreement with an undisclosed party to host and operate mining machines at its Helios facility in Texas. Up to 32 megawatts of power capacity will be provided by Argo, enough to power over 10,000 mining machines. In order to preserve capital, Argo also announced plans to sell 3,400 mining machines for £6m, as well as raise £24m via Proposed Subscription with a strategic investor. The company has seen headwinds from the price of both natural gas and electricity caused by the…

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