Argo September Operational Update
Argo Blockchain plc, a global cryptocurrency mining leader (LSE:ARB)(NASDAQ:ARBK), has released its operational update for September 2024. The company mined 37 Bitcoin (BTC) during the month, maintaining a consistent rate of 1.2 BTC per day from August 2024. However, BTC production was affected by economic curtailments and low hash price.
Mining revenue in September 2024 decreased to $2.2 million from $2.3 million in August 2024. The mining margin for Q3 fell below 10%, lower than Q2 due to a lower hash price and higher power prices. As of September 30, 2024, Argo Blockchain held 4 BTC equivalent.
Argo Blockchain plc, un leader globale nel mining di criptovalute (LSE:ARB)(NASDAQ:ARBK), ha pubblicato il suo aggiornamento operativo per settembre 2024. Durante il mese, l'azienda ha estratto 37 Bitcoin (BTC), mantenendo un tasso costante di 1,2 BTC al giorno rispetto ad agosto 2024. Tuttavia, la produzione di BTC è stata influenzata da ristrettezze economiche e da prezzi bassi dell'hash.
Le entrate dal mining a settembre 2024 sono diminuite a 2,2 milioni di dollari rispetto ai 2,3 milioni di dollari di agosto 2024. Il margine di mining per il terzo trimestre è sceso sotto il 10%, inferiore al secondo trimestre a causa di un prezzo dell'hash più basso e prezzi dell'energia più elevati. Al 30 settembre 2024, Argo Blockchain possedeva l'equivalente di 4 BTC.
Argo Blockchain plc, un líder global en minería de criptomonedas (LSE:ARB)(NASDAQ:ARBK), ha publicado su actualización operativa para septiembre de 2024. Durante el mes, la empresa minó 37 Bitcoin (BTC), manteniendo una tasa constante de 1,2 BTC por día desde agosto de 2024. Sin embargo, la producción de BTC se vio afectada por recortes económicos y por precios bajos de hash.
Los ingresos por minería en septiembre de 2024 disminuyeron a 2,2 millones de dólares desde 2,3 millones de dólares en agosto de 2024. El margen de minería para el tercer trimestre cayó por debajo del 10%, inferior al del segundo trimestre debido a un precio de hash más bajo y precios de energía más altos. Al 30 de septiembre de 2024, Argo Blockchain tenía el equivalente a 4 BTC.
Argo Blockchain plc는 글로벌 암호화폐 채굴 리더(주식 코드: LSE:ARB)(NASDAQ:ARBK)로서 2024년 9월 운영 업데이트를 발표했습니다. 이 회사는 해당 월에 37 비트코인 (BTC)을 채굴하였으며, 2024년 8월부터 하루 1.2 BTC의 일관된 비율을 유지했습니다. 그러나 BTC 생산은 경제적 제약과 낮은 해시 가격의 영향을 받았습니다.
2024년 9월 채굴 수익은 2024년 8월의 230만 달러에서 220만 달러로 감소했습니다. 3분기 채굴 마진은 10% 이하로 떨어졌으며, 2분기보다 낮았고, 이는 낮은 해시 가격과 높은 전력 가격 때문입니다. 2024년 9월 30일 현재 Argo Blockchain은 4 BTC에 해당하는 자산을 보유하고 있었습니다.
Argo Blockchain plc, un leader mondial dans le minage de cryptomonnaies (LSE:ARB)(NASDAQ:ARBK), a publié sa mise à jour opérationnelle pour septembre 2024. Au cours du mois, l'entreprise a miné 37 Bitcoin (BTC), maintenant un taux constant de 1,2 BTC par jour depuis août 2024. Cependant, la production de BTC a été affectée par des restrictions économiques et un prix de hash bas.
Les revenus du minage en septembre 2024 ont diminué à 2,2 millions de dollars par rapport à 2,3 millions de dollars en août 2024. La marge de minage pour le troisième trimestre est tombée en dessous de 10 %, inférieure à celle du deuxième trimestre en raison d'un prix de hash plus bas et des prix de l'énergie plus élevés. Au 30 septembre 2024, Argo Blockchain détenait un équivalent de 4 BTC.
Argo Blockchain plc, ein globaler Marktführer im Bereich Kryptowährungs-Mining (LSE:ARB)(NASDAQ:ARBK), hat sein Betriebsupdate für September 2024 veröffentlicht. Das Unternehmen hat im Monat 37 Bitcoin (BTC) abgebaut und einen konstanten Betrag von 1,2 BTC pro Tag seit August 2024 beibehalten. Die BTC-Produktion wurde jedoch von wirtschaftlichen Einschränkungen und niedrigen Hash-Preisen beeinflusst.
Die Einnahmen aus dem Mining im September 2024 sanken auf 2,2 Millionen Dollar von 2,3 Millionen Dollar im August 2024. Die Mining-Marge für das dritte Quartal fiel auf unter 10%, was niedriger als im zweiten Quartal ist, aufgrund eines niedrigeren Hash-Preises und höheren Strompreisen. Am 30. September 2024 hielt Argo Blockchain ein Äquivalent von 4 BTC.
- Consistent Bitcoin mining rate of 1.2 BTC per day maintained from August to September 2024
- Mining revenue of $2.2 million generated in September 2024
- Mining revenue decreased from $2.3 million in August to $2.2 million in September 2024
- Mining margin for Q3 fell below 10%, lower than Q2
- BTC production impacted by economic curtailments and low hash price
- Higher power prices negatively affected mining margin
Insights
Argo Blockchain's September operational update reveals a challenging period for the cryptocurrency mining company. The firm mined 37 Bitcoin in September, maintaining the daily rate of 1.2 BTC from August. However, several factors contributed to a decline in financial performance:
- Mining revenue decreased to
$2.2 million from$2.3 million in August. - Q3 mining margin fell below
10% , lower than Q2. - Production was impacted by economic curtailments and low hash price.
- Higher power prices further squeezed margins.
The company's Bitcoin holdings remain low at 4 BTC equivalent, indicating a strategy of selling mined coins to cover operational costs. This conservative approach may help with short-term liquidity but limits potential upside if Bitcoin prices rise. The continued low hash price and economic curtailments suggest ongoing profitability challenges for Argo, which could pressure its stock price in the near term.
LONDON, UK / ACCESSWIRE / October 4, 2024 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for September 2024.
During the month of September, the Company mined 37 Bitcoin ("BTC"), or 1.2 BTC per day consistent with August 2024. BTC production was again impacted by economic curtailments during the month and low hash price.
Mining revenue in September 2024 amounted to
This announcement contains inside information.
For further information please contact:
Argo Blockchain |
|
Investor Relations | |
Tennyson Securities |
|
Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities |
|
Joint Broker Guy Wheatley, CFA | +44 7493 989014 |
Tancredi Intelligent Communication UK & Europe Media Relations |
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.
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SOURCE: Argo Blockchain PLC
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