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Argo Blockchain Buys 172.5 Bitcoins as Reserve Asset, Month-to-month Income Soars 52%

02/04/2021
Argo Blockchain Buys 172.5 Bitcoins as Reserve Asset, Monthly Revenue Soars 52%

Argo Blockchain stated Wednesday that it purchased 172.5 bitcoins within the second half of January as a part of its asset administration technique.

● In a buying and selling replace, the London Inventory Trade-listed bitcoin miner additionally reported sturdy income development in the course of the evaluate month, climbing 52% to £2.48 million ($3.37 million) from £1.63 million ($2.21 million) in December.

● Argo didn’t reveal how a lot it spent shopping for the reserve BTC, however bitcoin costs over the last half of January oscillated between $30,000 and $38,500. The corporate stated it now holds the equal of 501 in bitcoin, as of the top of January.

● For the month in evaluate, Argo Blockchain mined 93 bitcoins, down from 96 BTC in December. Mining output seems to have progressively declined on the London agency over the previous couple of months. In November, Argo extracted 115 BTC, falling from 126 BTC mined in October.

● Peter Wall, chief govt officer of Argo, stated: “I’m thrilled that Argo has delivered our greatest month within the firm’s historical past in each mining income and earnings. The 12 months has began off very sturdy.”

● Argo operates 16,000 bitcoin mining rigs positioned all through North America, with a capability of 645 petahash per second (PH/s) in bitcoin mining hashrate. The corporate additionally mines privateness coin zcash (ZEC) and claims to function 5% of the worldwide ZEC hashpower whole. Argo’s whole mining capability is at the moment 787 petahash (SHA-256) along with 280 Megasols of equihash mining capability as effectively.

● Shares of Argo Blockchain are up 0.64% at £95 ($129) in afternoon London buying and selling Thursday. The inventory has soared greater than 1,100% during the last three months.

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