Argo Blockchain vs Metalpha Technology Holding
Metalpha Technology Holding is the larger business, with $37.1m of revenue in fiscal 2026 against $15.5m for Argo Blockchain (2.4 times as much). Metalpha Technology Holding grew faster (-16.7% against -67.0%). Argo Blockchain kept more of each dollar of sales as profit: a net margin of 32.8% against 3.5%. Argo Blockchain carries less debt relative to equity (0.0% against 0.9%).
| Latest fiscal year | Argo BlockchainARBK, 2025 | Metalpha Technology HoldingMATH, 2026 |
|---|---|---|
| Revenue | $15.5m | $37.1m |
| Revenue growth | -67.0% | -16.7% |
| Net income | $5.1m | $1.3m |
| Operating margin | -86.3% | 3.6% |
| Net margin | 32.8% | 3.5% |
| Return on equity | — | 2.9% |
| Free cash flow | −$25.1m | −$14.9m |
| Cash | $2.2m | $3.9m |
| Total debt | $0 | $460,815 |
| Debt to equity | 0.0% | 0.9% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $18,340 |
| Employees | — | — |
| Market value | $1.5m | $63.8m |
| Price vs our value range | — | — |
| Moat score | — | — |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |