Dual-listed on LSE (ARB) and Nasdaq (ARBK) since 2021, Argo operates its flagship Helios facility in Texas and Quebec sites (Baie-Comeau). Hashrate at ~2.4-2.7 EH/s in 2026, with expansion underway toward 4.2 EH/s. UK restructuring closed in late 2025: $40M of senior notes equitized, debt now minimal.
Argo is a textbook case of a miner that walked out of near-bankruptcy in 2022 without disappearing. The company has restored a healthy operational profile: controlled capex, renewable infrastructure (Quebec hydro + a recent 13.5 MW Alabama expansion), and a focus on energy efficiency. Marginal production cost remains competitive, but scale stays modest next to MARA, CleanSpark, or Riot. No announced AI pivot, which makes BTC price exposure cleaner — but also more binary.
Restored-operations BTC small-cap, pure-play exposure with no AI diversification. Positive asymmetry if the BTC cycle accelerates, but limited maneuvering room in a prolonged post-halving margin compression. Recovery profile — sized modestly.
Everything you need to know about NeonBridge and the compute economy.
Oil powered the 20th century. Compute powers the 21st. Every time an AI model runs or a Bitcoin block is mined, it takes energy, chips, data centers, and cloud infrastructure to make it happen. The companies building all of that form the compute economy. NeonBridge tracks 200+ of them across 7 categories.
Just like oil or electricity, compute is a raw resource that every industry needs. AI models can't train without GPU cycles. Bitcoin can't exist without hashrate. As demand grows, the companies that produce, store, and distribute compute become critical infrastructure. That makes compute the defining commodity of this century.
AI and Bitcoin are not two separate topics. They are two expressions of the same industrial revolution. AI transforms compute into intelligence. Bitcoin transforms compute into verifiable scarcity. Both need the same physical foundations: energy, chips, and data centers. That is why NeonBridge tracks them together, as one economy.
Most companies in the tracker are publicly listed stocks you can buy through any brokerage account. We highlight EU-friendly brokers like Trade Republic, Interactive Brokers, DEGIRO, and Scalable Capital to help you get started. No crypto wallet needed for the equity side.
Like any sector, compute infrastructure carries risk. Chip supply chains can be disrupted by geopolitics. Energy costs fluctuate. AI regulation is evolving fast. Bitcoin mining profitability depends on network difficulty and price cycles. Diversifying across the 7 categories of the compute economy helps reduce exposure to any single risk.
Global AI compute capacity doubles every 6-7 months, fueled by explosive AI adoption outpacing historical trends, with contributions from Bitcoin mining infrastructure repurposing and autonomous systems. Governments worldwide have committed hundreds of billions to chip manufacturing and power infrastructure. This reflects an enduring industrial shift comparable to electrification.
