Argo Blockchain plc

AI-generated fair value estimate for this company.

Method: Sum-of-the-parts NAV (not DCF, due to non-forecastable BTC-price-driven cash flows and going-concern dependency on the controlling shareholder): mining fleet + facility infrastructure value ~$30M (anchored to the $23.8M crypto-mining-asset contribution in the Dec 2025 Growler restructuring plus owned Quebec/Alabama facilities); plus $2.2M cash and $0.2M BTC holdings; less $3.5M total debt and a $2M contingent-liability reserve for the Canadian tax assessment under appeal; discounted ~17% for the open $5M Growler dilution facility (up to 19.99% additional share issuance); divided by 13.36M ADS-equivalent shares outstanding.

Reasoning: ARBK's ~3% public float, going-concern dependence on its 88.6% owner Growler Mining, and BTC-price/network-difficulty-driven (not company-driven) cash flows make a standard FCF DCF unreliable; FY2025 free cash flow was -$25.1M and the lone analyst's revenue estimates are roughly 9x off actual results, so an asset/NAV approach anchored to a real recent related-party transaction value gives a more defensible floor estimate.