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Seeking Alpha 2022-03-07 11:41:06

Argo Blockchain PLC mined 135 BTC in February

Argo Blockchain plc (NASDAQ:ARBK) has mined 135 Bitcoin or Bitcoin Equivalent in Februray down from 172 BTC in January. This reduction of BTC mined during February is primarily due to record high global hashrate and subsequent network difficulty increase. Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in February amounted to £4.15M vs. £5.26M in January and £7.82 in December. The company generated this income at a Bitcoin and Bitcoin Equivalent Mining margin of approximately 71% for the month vs. 74% in previous month. At the end of February, the company owned 2,685 Bitcoin, of which 246 were BTC equivalents. The company has signed a supply agreement with Intel Corporation to purchase Intel's new blockchain accelerator. Peter Wall, Chief Executive of Argo and interim Chairman, said: "During February, we have experienced exceptional weather conditions and are hopeful that these are behind us. Regardless of this, we

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