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Argo Blockchain PLC Announces June Operational Update

Posted on by angelo





Argo Blockchain released its operational update for June 2024, announcing that it mined 44 Bitcoin or Bitcoin equivalents, or 1.5 BTC per day. This production rate remains consistent with May 2024. Mining revenues for June 2024 also matched May’s, totaling $2.9 million. The company’s mining margins were approximately 30% for the month, and it held 11 BTC equivalents as of June 30, 2024.

Negative


  • Bitcoin production stable but not improved to 44 BTC.


  • Mining revenues stagnate at $2.9 million.


  • Mining margins remained at 30%, indicating no improvement.










June Operational Update

LONDON, UK / ACCESSWIRE / July 5, 2024 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB) (NASDAQ: ARBK), is pleased to provide the following operational update for June 2024.

During the month of June, the Company mined 44 bitcoins or bitcoin equivalents (collectively, “BTC”), or 1.5 BTC per day. This figure is consistent with production in the month of May.

Mining revenues in June 2024 amounted to $2.9 million (May 2024: $2.9 million). For the month of June, the Company recorded mining margins of approximately 30%As of June 30, 2024, the Company held the equivalent of 11 BTC.

This announcement contains inside information.

For further information please contact:

About Argo:

Argo Blockchain plc is a publicly 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 primarily powered by renewable energy. In 2021, Argo became the world’s first climate-positive cryptocurrency mining company and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com.

This information is provided by RNS, the information service of the London Stock Exchange. RNS is authorised by the Financial Conduct Authority to act as a provider of primary information in the United Kingdom. Terms and conditions relating to the use and dissemination of this information may apply. For further information please contact [email protected] or visit www.rns.com.

SOURCE: Argo Blockchain PLC

View the original press release on accesswire.com








FAQ



How much Bitcoin has Argo Blockchain mined in June 2024?

Argo Blockchain mined 44 Bitcoins or Bitcoin equivalents in June 2024, an average of 1.5 BTC per day.


What was Argo Blockchain’s mining revenue for June 2024?

Argo Blockchain reported mining revenue of $2.9 million by June 2024.


What were Argo Blockchain’s mining margins in June 2024?

Argo Blockchain’s mining margins were around 30% as of June 2024.


How many Bitcoins did Argo Blockchain hold as of June 30, 2024?

As of June 30, 2024, Argo Blockchain held 11 Bitcoin equivalents.