By Samuel Indyk
Investing.com – Cryptocurrency miner Argo Blockchain (LON:ARB) has announced it mined 214 Bitcoin or Bitcoin equivalent (BTC) in December, up from the 185 mined in November. In 2021, Argo mined a total of 2,045 BTC.
Based on daily foreign exchange rate and cryptocurrency prices in December, mining revenue fell to £7.82 million from £8.29 million in November.
During December, the price of Bitcoin crashed from around $57,000 at the start of the month to a low of around $42,500. Bitcoin currently trades around $41,750.
At the end of December, Argo Blockchain held a total of 2,595 Bitcoin or Bitcoin equivalent.
Update on Texas facility
The London-listed cryptocurrency miner has also provided an update on the construction of its mining facility in Texas. The firm said construction remains on time with the main structure, outside façade and roof now completed.
The next phase of the construction and build of the flagship facility is ongoing with the projected completion date in the first half of this year.
“2021 has been a transformational year for both Argo and the cryptocurrency sector,” said Argo Blockchain CEO Peter Wall. “We began development on our mining facility in Texas and we took Argo to NASDAQ. Our efforts allowed us to expand our global presence and we look forward to the year ahead and the opening of our mining facility in Dickens County, Texas.”
At 08:13GMT, shares in Argo Blockchain were trading higher by 0.6% at 83.90 pence per share.