βΒ $40.4 Million market cap Β· β97.1% from peak
The rise & fall
8 moments Β· 2017β2022
The key moments.
2017
π±
2017
Founded in London
A UK startup sets out to mine Bitcoin at datacentre scale.
Wikipedia
Nov 2021
π
Nov 2021
The peak: ~$1.4B as Bitcoin tops out$1.4B
The ADSs touch about $30 in November 2021, right at the crypto market's all-time high.
CoinDesk
2022
2022
Crypto winter meets the energy crisis
Bitcoin slumps while power costs surge; the shares lose about 92% on the year.
TechCrunch
Oct 2022
Oct 2022
A $27M rescue falls through
A planned strategic investment collapses, putting bankruptcy squarely on the table.
CoinDesk
2022
π
2022
Slips out of the club
The ~92% drawdown leaves the miner worth a small fraction of $1B.
CoinDesk
Dec 2022
Dec 2022
Sells the flagship to stave off bankruptcy
Galaxy Digital pays $65M for the Helios facility in Texas and lends $35M more β solvency bought by selling the crown jewel.
TechCrunch
Today
Today
Still in the club β and still trading
Live Β· ARBK Β· NasdaqCMas of 2026-09-17
$2.76βΌ 4.66% todayβ $40.4M cap Β· β97.1% from peak
How it happened
Argo Blockchain is a UK-based Bitcoin miner that listed in London and later on Nasdaq, with its market value topping roughly $1.4B near the crypto peak in late 2021. Surging energy costs and the 2022 crypto bear market crushed both Bitcoin's price and Argo's stock, which fell about 92% over the year.
After failing to raise $27M from a strategic investor in October 2022, Argo staved off bankruptcy that December by selling its flagship Helios mining facility in Texas to Galaxy Digital for $65M and taking a $35M loan β leaving its market capitalisation a small fraction of its peak.
Source: CoinDesk / TechCrunch (Nasdaq ATH ~$30/ADS Nov 2021, ~$1.4B market cap; shares -92% in 2022; sold Helios facility to Galaxy Digital for $65M + $35M loan Dec 2022 to avoid bankruptcy)
