Argo Blockchain Provides July Operational Update
Argo Blockchain plc (OTCQX: ARBKF) reported a significant operational update for July, where the company mined 225 Bitcoin, a rise from 167 BTC in June, totaling 1108 BTC year-to-date. The mining revenue for July reached £5.60 million ($7.79 million), marking an increase compared to June's $6.05 million. Argo's average mining margin improved to approximately 83%, up from 78% in June. The company also initiated infrastructure development at its Texas facility, aiming to enhance operational efficiency and renewable energy usage.
- Mined 225 Bitcoin in July, up from 167 BTC in June.
- July mining revenue of £5.60 million ($7.79 million), an increase from $6.05 million in June.
- Improved average monthly mining margin to approximately 83% from 78%.
- None.
Argo Blockchain plc (LSE: ARB; OTCQX: ARBKF), (“Argo” or the “Company”), a global leader in sustainable blockchain infrastructure and cryptocurrency mining, is pleased to provide the following operational update for July.
During the month of July, Argo mined 225 Bitcoin or Bitcoin Equivalent (together, BTC) compared to 167 BTC in June. This brings the total amount of BTC mined year-to-date to 1108 BTC.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in July amounted to
At the end of July, the Company owned 1,496 Bitcoin or BTC equivalent.
Peter Wall, Chief Executive of Argo said: “I’m delighted that we have been able to capitalize on the reduction in global hash rate and mining difficulty this month to deliver these results at an impressive margin. We are also pleased to have broken ground at the Texas facility, and are excited about the opportunities that this development offers in allowing us to exercise greater control over our mining operations, to continue to utilize renewable power and to work with the local community in Texas to enact positive change.”
This announcement contains inside information.
About Argo
Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.
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