A bitcoin stock listed on the London Stock Exchange has soared by 300 percent to hit its 11-month high.Shares of UK-based Argo Blockchain PLC (LON: ARB) today established a year-to-date peak of $10.96, bringing its maximum yearly gains close to 328 percent. At its weakest, the stock was trading at $2.54 in February 2019, down 85 percent from its first day’s opening rate of $17 a share.
Argo Blockchain stock rebounds by 300 percent | Image credits: TradingView.comThe latest surge surfaced out of strategic investments. Argo purchased 1,000 Bitmain Z11 Antminer machines in April 2019. They went into production a month later and, as of today, had delivered a 100 percent payback on Argo’s investments.“Based on current mining margins, Argo is also well ahead of schedule to recoup the cost of the 2,267 S17 Antminer machines purchased in April and May of 2019 and which have been in production since May and June,” Argo stated in its press release.The post appeared first on NewsBTC
