Argo Blockchain’s Texas Mining Facility Will Propel Shares Higher, Analysts Say

Argo Blockchain’s Texas Mining Facility Will Propel Shares Higher, Analysts Say
Five Wall Street firms including Jefferies and Barclays initiated research coverage of Argo Blockchain (NASDAQ: ARBK) on Monday, with buy ratings – all of them expecting the firm’s Texas crypto mining facility to be a catalyst for the shares to move higher.Jefferies analyst Jonathan Petersen has the highest 12-month price target of $30 per share for the London-based miner. “BTC mining should remain a high margin business, and ARBK’s margin should improve as they build out in Texas, where power rates (largest OpEx) are half the rate of the in-place portfolio,” Petersen wrote. He also thinks Argo’s investment in sustainable energy…