Argo Blockchain mines 163 BTC in March, 21% higher M/M

Argo Blockchain (NASDAQ:ARBK) rose 4.82% after hours after the firm has mined 163 Bitcoin or Bitcoin Equivalent in March 2022 compared to135 BTC in February 2022. Based on daily foreign exchange rates and cryptocurrency prices during the month, March mining revenue stood at $6.92M compared to $5.58M in February. The company generated this income at a Bitcoin and Bitcoin Equivalent Mining margin of ~74% for March. At the end of March, the company owned 2,700 Bitcoin, of which 259 were BTC equivalents. Concurrently, the company has appointed Seif El-Bakly as COO. Prior to joining Argo, Seif founded a fintech startup and worked for TMX Group, where he led the strategy and business management efforts for the entire Markets Business. It has provided an update on the construction of its 200MW flagship cryptocurrency mining facility, Helios, in Dickens County, Texas and expects mining operations to commence at Helios in Q2 2022. Additionally, the fiber internet connection to Helios has now been completed.