LONDON, UK / ACCESSWIRE / July 7, 2022 / Argo Blockchain plc, a global leader in cryptocurrency mining, (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for June 2022.
During the month of June, Argo mined 179 Bitcoin or Bitcoin Equivalents (together, BTC) compared to 124 BTC in May 2022. The increase in BTC mined is primarily due to an increase in total hashrate capacity and greater uptime at the Helios facility compared to the previous month.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in June amounted to 3.38 million [$4.35 million*] (May 2022: 3.07 million [$3.89 million*]).
Argo generated this income at a Bitcoin and Bitcoin Equivalent Mining Margin of 50% for the month of June (May 2022: 55%)1. This reduction in mining margin was driven primarily by the reduced price of Bitcoin and higher electricity costs at Helios.
As of 30 June 2022, the Company held 1,953 Bitcoin, of which 210 were BTC...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...