Argo Blockchain Continues Buildout As Bitcoin Price Tumbles Under $20K

SummaryArgo Blockchain plc went public in September 2021, raising approximately $113 million in gross proceeds in an IPO.The firm operates cryptocurrency mining computers in facilities based in North America.ARBK has grown its mining capacity and seeks revenue stream diversification.The stock has been beaten down along with Bitcoin's price, but the firm's mining operations appear efficiently managed.However, until we begin to see positive market dynamics for the price of Bitcoin, I'm on Hold for ARBK.A Quick Take On Argo BlockchainArgo Blockchain plc (ARBK) went public in September 2021, raising approximately $113 million in gross proceeds from an IPO that was priced at $15.00 per ADS.The firm operates cryptocurrency mining computers in locations in North America.Argo appears to be efficiently-managed so is worth putting on a watch list at its current price of around $4.00, but for now, I'm on Hold for the stock.Argo Blockchain OverviewLondon, UK-based Argo was founded to cost-effectively mine Bitcoin (BTC-USD) and other cryptocurrencies in North America using "predominantly renewable and inexpensive power."Management is headed by Chief Executive Officer, Peter Wall, who has been with the firm since inception and was previously Partner at The Art Department.The firm currently has thousands of Bitcoin mining machines located in owned and hosted facilities in Canada and the United States.Management also intends to invest in stra...