Bitcoin Miner Argo Blockchain Loses More Wall Street Bulls After Financial Woes

“If indeed it can secure the financing to negotiate a power purchase agreement [PPA], we believe Argo’s flagship Helios facility could be better monetized,” Canaccord analyst Joseph Vafi told clients in a research note. “But given current macro uncertainty and until Argo can get to the other side of where it is now, we are downgrading shares to hold,” Vafi wrote.