October Operational Update
LONDON, UK / ACCESSWIRE / November 3, 2023 / Argo Blockchain plc, ("Argo" or "the Company") a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for October 2023.
During the month of October, the Company mined 143 Bitcoin or Bitcoin Equivalents (together, "BTC"), or 4.6 BTC per day. The Company was able to increase its daily BTC production in October by 2% compared to the prior month, despite a 7% increase in the monthly average network difficulty in October compared to September. This is primarily due to fewer hours of economic curtailment at Helios in October, along with a strong focus on operational excellence across the Company.
Mining revenue in October 2023 amounted to $4.26 million, an increase of 19% compared to the prior month (September 2023: $3.59 million). As of 31 October 2023, the Company held 21 BTC.
This announcement contains inside information.
For further information please contact:
Argo Blockchain | |
Investor Relations | |
Tennyson Securities | |
Corporate Broker | +44 207 186 9030 |
Fortified Securities | |
Joint Broker | +44 7493 989014 |
Tancredi Intelligent Communication |
About Argo:
Argo Blockchain plc is a dual-listed (LSE:ARB);(NASDAQ:ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com.
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SOURCE: Argo Blockchain PLC