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Argo Blockchain mined 198 bitcoin in November, revenues approached £3mln – Proactive Investors UK

Written by Blockchain News


Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) has said that during the month of November it mined 198 bitcoin or bitcoin equivalents (together, BTC) compared to 204 BTC in October 2022.

The AIM-quoted bitcoin miner said the decrease in BTC mined was primarily due to an increase in the Bitcoin network difficulty in November compared to October. 

The company said its total hash-rate capacity continues to be 2.5 EH/s. 

As of 30 November 2022, Argo Blockchain held 126 BTC, of which 116 were BTC equivalents.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in November amounted to £2.94mln on a margin of 29% compared to £3.55mln on a margin of 32% in October.

As first announced in November 2021 and reiterated in January 2022, from 31 December 2022, Argo Blockchain shares will no longer be traded on the OTCQX Best Market. Holders of Argo Blockchain shares have the option to convert these shares to Nasdaq-listed ADRs.

Argo said it continues to engage in financing discussions, as announced on 31 October 2022, to provide the company with working capital sufficient for its present requirements. A further announcement will be made in due course, it added.

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