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Argo Blockchain touts promise of cryptos despite falling prices

By BFN News | 09:00 AM | Friday 07 September, 2018

Argo Blockchain, a cryptocurrency mining services provider, reported Friday a loss for the first-half of the year driven by initial start-up costs and investment in computer hardware and other corporate infrastructure. For the period from 5 December 2017 to 30 June 2018, the company made a loss before tax of £1.15m. The results covered the company's initial start-up phase and related to the period before its flotation. The company said it had made a 'strong' start to the second half of year despite the recent downturn in cryptocurrency prices. 'Despite the recent downturn in the prices of cryptocurrencies, there continues to be huge pent-up consumer demand worldwide for mining services as this sector gains wider acceptance, the company said. 'With a strong capital base and technology know-how, the Group is well positioned to take advantage of these opportunities and remains on track for the ramp-up of its subscriber-based mining platform in line with its strategic road-map.' At 9:00am: (LON:ARB) Argo Blockchain Plc Ord 0.1p share price was 0p at 10.5p Story provided by

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