Why Argo Blockchain Stock is a Good Investment in 2021
Investing in stocks is never easy as it requires a lot of research and analysis to choose the right investment options. However, if you are considering investing in cryptocurrency-related stocks, Argo Blockchain may be worth considering. In this article, we will discuss why Argo Blockchain stock is a good investment in 2021.
Introduction: Understanding Argo Blockchain
Argo Blockchain is a UK-based company that was founded in 2017, providing a cryptocurrency mining service to individuals. The company has grown rapidly since then, having gone public on the London Stock Exchange in 2018. Argo is now one of the leading cryptocurrency mining companies, providing its services to people in over 100 countries around the world. The company has also made significant advancements in improving energy efficiency and reducing environmental impact in cryptocurrency mining.
Body: Why Argo Blockchain Stock is a Good Investment in 2021
1. Strong Financial Performance
Argo Blockchain has reported a strong financial performance in 2020, with profits exceeding $1 million for the first time in Q2 2020. The company’s revenue increased by 75% in 2020, reaching $19 million, while the net profit for the year stood at $1.7 million. The company’s strong financial performance demonstrates its ability to navigate through market volatility, making it a reliable investment option.
2. Growing Demand for Cryptocurrency Mining
The demand for cryptocurrency mining continues to increase, as more people invest in digital assets such as Bitcoin and Ethereum. Argo Blockchain is well-positioned to take advantage of this growing demand, having expanded its mining capacity by over 75% in the last quarter of 2020. The company aims to further expand its mining capacity in 2021, which bodes well for investors.
3. Expansion into North America
Argo Blockchain recently announced its plans to expand into North America, with the establishment of a mining facility in Texas. This move will enable the company to tap into the growing demand for cryptocurrency mining in the region, which is expected to increase significantly in the coming years. This expansion is a positive signal to investors and cements Argo Blockchain’s position as a key player in the cryptocurrency industry.
4. Focus on Environmental Sustainability
Argo Blockchain is committed to reducing the environmental impact of cryptocurrency mining. The company has introduced innovative measures to improve energy efficiency in mining and reduce carbon emissions. For example, the company uses hydroelectric power for its mining operations in Quebec, Canada, which is one of the cleanest sources of energy. This focus on sustainability is essential, as investors increasingly favor companies with strong sustainability credentials.
Conclusion: Should You Invest in Argo Blockchain Stock?
Investing in Argo Blockchain stock can be a smart move, as the company has a strong financial performance, strong growth prospects, and a sustainable approach to cryptocurrency mining. With its expansion plans in North America, the company is well-positioned to take advantage of the growing demand for cryptocurrency mining in the region. As with any investment, it is essential to do your research and analysis and seek professional advice before investing. However, Argo Blockchain has the potential to be a rewarding investment opportunity for those looking to invest in the cryptocurrency industry.
