Bitcoin Rally Sparks 83% Surge in Prominent Crypto Stock: Heres Why

By Lola Coin Jun 26, 202360Views

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Bitcoin’s price has surged past the $30,000 mark for the second time this year, driven by institutional adoption and positive sentiment in the cryptocurrency market. As a result, shares of Argo Blockchain, a Bitcoin mining firm, have experienced a remarkable price surge of over 83% in the past week. The company’s stock is currently changing hands at £11.92 on the London stock exchange and $1.61 on the Nasdaq. Argo’s rally can be attributed to several factors, including an operational update indicating increased mining efficiency and revenue, as well as the overall rebound of the Bitcoin market. The recent launch of a new crypto exchange and the filing for a Bitcoin ETF by major traditional finance firms have also contributed to the improved market sentiment. Bitcoin’s current price is $30,344, up 13.5% on the month and 82% since the beginning of the year.

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