Argo Blockchain plc ("Argo" or "the Group") Interim Half Year Results 2022
LONDON, UK / ACCESSWIRE / August 24, 2022 / Argo Blockchain plc, a global leader in cryptocurrency mining ARBARBK, is pleased to announce its results for the six months to 30 June 2022.
Financial Highlights
Total number of Bitcoin and Bitcoin Equivalent ("BTC") mined during H1 2022 was 939, a 6% increase over the BTC mined in H1 2021
Revenues of 26.7 million ($32.5 million), a decrease of 14% from H1 2021, driven primarily by a decrease in Bitcoin price and an increase in the global hashrate and associated network difficulty level
Adjusted EBITDA of 17.1 million ($20.9 million), a decrease of 28% from H1 2021
Mining margin of 71%, down from 81% in H1 2021. Similar to revenue, this decrease is largely attributable to the decrease in Bitcoin price and an increase in network difficulty
Pre-tax loss of 36.9 million ($44.9 million), driven primarily by a non-cash reduction in the fair value of digital...
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