Argo Blockchain PLC Announces July Ops Update
Argo Blockchain plc, a global cryptocurrency mining leader (LSE:ARB)(NASDAQ:ARBK), has released its operational update for July 2024.
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Rhea-AI Summary
Argo Blockchain plc, a global cryptocurrency mining leader (LSE:ARB)(NASDAQ:ARBK), has released its operational update for July 2024. The company mined 48 Bitcoin or Bitcoin Equivalents (BTC), maintaining a consistent rate of 1.5 BTC per day from June 2024. Mining revenue for July reached $3.0 million, slightly up from June's $2.9 million. However, the mining margin decreased to the mid 20% range due to a lower hash price in July compared to June. As of July 31, 2024, Argo Blockchain held 11 BTC equivalent. This update contains inside information and reflects the company's ongoing performance in the cryptocurrency mining sector.
Positive
- Consistent mining rate of 1.5 BTC per day maintained from June to July 2024
- Slight increase in mining revenue from $2.9 million in June to $3.0 million in July 2024
Negative
- Mining margin decreased to mid 20% range in July due to lower hash price
- BTC holdings reduced to 11 BTC equivalent as of July 31, 2024
Details
News Market Reaction – ARBK
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LONDON, ENGLAND / ACCESSWIRE / August 5, 2024 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for July 2024.
During the month of July, the Company mined 48 Bitcoin or Bitcoin Equivalents (together, "BTC"), or 1.5 BTC per day consistent with June 2024, which also averaged 1.5 BTC per day.
Mining revenue in July 2024 amounted to
This announcement contains inside information.
For further information please contact:
Argo Blockchain |
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Investor Relations | |
Tennyson Securities |
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Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities |
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Joint Broker Guy Wheatley, CFA | +44 7493 989014 |
Tancredi Intelligent Communication UK & Europe Media Relations |
About Argo:
Argo Blockchain plc is a dual-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 predominantly powered by renewable energy. In 2021, Argo became the 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Argo Blockchain PLC
View the original press release on accesswire.com
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