Argo Blockchain Provides July Operational Update
August 03 2021 - 8:00AM
Business Wire
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 £5.60 $7.79
million (June 2021: $6.05 million). Argo generated this income at
an average monthly mining margin of approximately 83% for the month
of July (June 2021: 78%).
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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Carissa Felger/Genevieve Pirrong Gasthalter & Co. (212)
257-4170
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