Argo blockchain news, price and statistics

<div><img width="1200" height="665" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/Untitled-9.jpeg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Argo blockchain news, price and statistics" decoding="async" loading="lazy" /></div><h1><strong>Argo blockchain news, price and statistics</strong></h1>
<p><span data-preserver-spaces="true">Investment interest in Algorand is driven by its unique features. In this article we cover argo <a href="https://www.financebrokerage.com/what-is-blockchain-technology-and-how-does-it-work/">blockchain</a> share news and price forecasts.</span></p>
<p><span data-preserver-spaces="true">Argo Blockchain is a technology company specializing in large-scale cryptocurrency mining. Based in the United Kingdom, it operates with a primary focus on the mining of <a href="https://www.financebrokerage.com/crypto-trading-tips-and-tricks-a-beginners-guide/">Bitcoin</a> and other cryptocurrencies. </span></p>
<p><span data-preserver-spaces="true">Argo Blockchain stands out for its commitment to operating in an eco-friendly manner, utilizing clean energy sources to power its mining operations. </span></p>
<p><span data-preserver-spaces="true">This approach not only reduces the environmental impact commonly associated with cryptocurrency mining but also aligns with growing global trends towards sustainability in technology.</span></p>
<p><span data-preserver-spaces="true">The company offers a platform that enables users to participate in mining through a subscription service, making it accessible to a broader range of individuals and entities. </span></p>
<p><span data-preserver-spaces="true">By doing so, Argo Blockchain democratizes access to </span><strong><span data-preserver-spaces="true">cryptocurrency mining</span></strong><span data-preserver-spaces="true">, which typically requires significant technical expertise and investment in hardware. </span></p>
<p><span data-preserver-spaces="true">They manage the technical aspects, allowing users to benefit from the mining activity without the associated complexities.</span></p>
<p><span data-preserver-spaces="true">Let’s take a look at the latest Argo blockchain news. </span></p>
<h2><strong>Argo blockchain news</strong></h2>
<p><span data-preserver-spaces="true"><img decoding="async" loading="lazy" class="alignnone size-full wp-image-192129" src="https://www.financebrokerage.com/wp-content/uploads/2023/04/shutterstock_2254286701.jpg" alt="Broker News" width="1000" height="580" /></span></p>
<p><span data-preserver-spaces="true">Argo Blockchain recently announced the departure of its former interim CEO and COO Seif El-Bakly, who left the company on January 5 to pursue other opportunities. El-Bakly had stepped in as interim CEO from February to November 2023, after the exit of former head Peter Wall. </span></p>
<p><span data-preserver-spaces="true">During his tenure, the operations team reported to Argo CSO Sebastien Chalus, who will continue in this role. Argo’s shares on <a href="https://www.financebrokerage.com/nasdaq-salmon-index/">Nasdaq</a> experienced an 8.6% drop to $3.36, reducing the company’s market cap to $183.7 million.</span></p>
<p><span data-preserver-spaces="true">The company also completed a share placement, issuing 38 million shares and raising $9.9 million. These funds are earmarked for working capital, debt repayment, and other corporate purposes.</span></p>
<p><span data-preserver-spaces="true"> In December 2023, Argo mined 155 BTC, marking a 4% increase in daily </span><strong><span data-preserver-spaces="true">Bitcoin</span></strong><span data-preserver-spaces="true"> production, attributed to higher transaction fees and greater operational efficiency, despite an increase in network difficulty.</span></p>
<p><span data-preserver-spaces="true">Argo has appointed Chippas, a seasoned professional in financial services and digital assets, as the new CEO. </span></p>
<p><span data-preserver-spaces="true">Chippas, former CEO of CBOE Digital and founder of ErisX, will receive up to 2.85 million units tied to the company’s American Depositary Shares, subject to performance goals and continuous employment.</span></p>
<p><span data-preserver-spaces="true"> This comes amid challenging times for Argo, including the false alarm about a Chapter 11 bankruptcy filing and the sale of its Helios mining facility, along with securing a $35 million loan from Galaxy Digital and raising $7.5 million in an oversubscribed share sale to manage debts.</span></p>
<h2><strong>Argo blockchain share price news</strong></h2>
<p><span data-preserver-spaces="true"><img decoding="async" loading="lazy" class="alignnone wp-image-134136 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2022/01/shutterstock_1747493888-1024×683.jpg" alt="Argo blockchain share price news" width="1024" height="683" /></span></p>
<p><span data-preserver-spaces="true">The price of Algorand has seen a decrease of 4.15% in the past 24 hours. As of now, one ALGO is valued at €0.17, with Algorand’s total circulating supply reaching 8,023,663,960 ALGO. This brings the current </span><strong><span data-preserver-spaces="true">market capitalization</span></strong><span data-preserver-spaces="true"> of Algorand to approximately €1,369,519,083.</span></p>
<p><span data-preserver-spaces="true">Looking at its yearly performance, Algorand’s value has dropped by 9.88%. In this period, the highest recorded price of ALGO was €0.27, while its lowest was €0.082.</span></p>
<p><span data-preserver-spaces="true">In recent trading activity, a total of 9,652,307 ALGO, equivalent to €1,647,504, was traded on the Kraken exchange today.</span></p>
<p><span data-preserver-spaces="true">And in 2025, the Algorand (ALGO) coin is predicted to be worth $0.183704. Looking forward, the price is expected to rise slightly each year, reaching $0.202534 by 2027. However, despite some optimism, Algorand is not anticipated to hit the $10 mark; predictions suggest a maximum price of $1 by the end of 2030.</span></p>
<p><span data-preserver-spaces="true">Algorand’s all-time low was $0.087513, recorded on September 11, 2023. The cryptocurrency has a max supply cap of 10 billion ALGO, all minted at its genesis. Although all tokens were created at launch, the liquid supply will grow as pre-minted tokens are released and distributed.</span></p>
<p><span data-preserver-spaces="true">Currently, Algorand’s market trend appears bearish in the short term, with its 50-day moving average sloping downwards. However, the 200-day moving average has been on an upward trend since early 2024, indicating a strong longer-term trend.</span></p>
<h3><strong>What’s so special about Argo blockchain</strong></h3>
<p><span data-preserver-spaces="true">Investment interest in Algorand is driven by its unique features. It offers faster transaction processing compared to Bitcoin and other blockchains and operates as a permissionless </span><strong><span data-preserver-spaces="true">proof-of-stake blockchain</span></strong><span data-preserver-spaces="true">, which means it cannot be mined. </span></p>
<p><span data-preserver-spaces="true">Algorand stands out as a secure, fast, and energy-efficient network capable of hosting DApps and various digital assets. Its Pure Proof of Stake (PPoS) chain is another defining aspect that sets it apart in the blockchain space.</span></p>
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