Argo Blockchain PLC Announces November Monthly Operational Update

Rhea-AI Summary

Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) reports a 5% increase in daily Bitcoin production in November, mining 145 BTC and generating $5.30 million in revenue, a 25% increase from the prior month.

Positive

• Increased daily BTC production by 5%
• Revenue increase of 25% compared to the prior month
• HODL remained at 21 BTC

Negative

• None.

November Operational Update

LONDON, ENGLAND / ACESSWIRE / December 4, 2023 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for November 2023.

During the month of November, the Company mined 145 Bitcoin or Bitcoin Equivalents (together, "BTC"), or 4.8 BTC per day. The Company was able to increase its daily BTC production in November by 5% compared to the prior month, despite a 9% increase in the monthly average network difficulty in November compared to October.

Mining revenue in November 2023 amounted to $5.30 million, an increase of 25% compared to the prior month (October 2023: $4.26 million). The increase in revenue was driven primarily by the increase in the price of Bitcoin. As of 30 November 2023, the Company's HODL remained at 21 BTC.

This announcement contains inside information.

For further information please contact:

Argo Blockchain
Investor Relations	ir@argoblockchain.com
Tennyson Securities
Corporate Broker Peter Krens	+44 207 186 9030
Fortified Securities
Joint Broker Guy Wheatley, CFA	+44 7493 989014 guy.wheatley@fortifiedsecurities.com
Tancredi Intelligent Communication UK & Europe Media Relations	argoblock@tancredigroup.com

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Argo Blockchain PLC

View source version on accesswire.com:
https://www.accesswire.com/812790/argo-blockchain-plc-announces-november-monthly-operational-update

FAQ

How many Bitcoin did Argo Blockchain mine in November 2023?

Argo Blockchain mined 145 Bitcoin or Bitcoin Equivalents in November 2023.

What was the daily BTC production in November 2023?

Argo Blockchain produced 4.8 BTC per day in November 2023.

What was the mining revenue in November 2023?

The mining revenue in November 2023 amounted to $5.30 million, a 25% increase compared to the prior month.

What was the change in the monthly average network difficulty in November compared to October?

The monthly average network difficulty in November increased by 9% compared to October.

What is the company's HODL as of 30 November 2023?

As of 30 November 2023, the Company's HODL remained at 21 BTC.