Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Argo Blockchain increases revenues, mines 144 bitcoin in May

Published 04/05/2023, 07:36
Updated 04/05/2023, 07:41
© Reuters.  Argo Blockchain increases revenues, mines 144 bitcoin in May

Proactive Investors - London-listed bitcoin mining company Argo Blockchain PLC (LON:ARB) mined 144 bitcoin or bitcoin equivalents in April, averaging 4.8 BTC per day.

This was a decrease of 8% compared to March yields, primarily driven by an 8% sequential increase in the average network difficulty during the month of April.

As of April 30, 2023, Argo Blockchain held 83 bitcoin or bitcoin equivalents in reserve.

The Company maintains a total hashrate capacity of 2.5 EH/s heading into May.

In the third quarter of 2023, Argo Blockchain expects to commence installation of 2,870 BlockMiner machines from ePIC Blockchain Technologies at its Quebec facilities, representing an additional 0.3 EH/s of hashrate capacity, bringing total capacity to 2.8 EH/s.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in April amounted to US$4.17mln (£3.35mln), an increase of 3% over the prior month’s revenues of US$4.05mln (£3.28mln).

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.