ARBK - Argo Blockchain daily bitcoin production down by 17% M/M in June
2023-07-12 03:07:53 ET
-
Argo Blockchain ( NASDAQ: ARBK ) mined 139 Bitcoin ( BTC-USD ) or Bitcoin Equivalents or 4.6 BTC per day in the month of June, down 17% compared to the 5.6 BTC per day produced in May 2023.
-
The decrease in BTC production is primarily driven by
a higher average network difficulty in June compared to the prior month, as well as increased curtailment of mining operations at the Helios facility in Texas. - Mining revenue of $3.84M declined from $4.75M in May, a decrease of 19%.
- The company's total hashrate capacity continues to be 2.5 exahashes per second, and it held 44 bitcoin ( BTC-USD ) or bitcoin equivalents as of June.30.
- At its Quebec facilities, the company has started bringing in and setting up additional BlockMiner equipment. When fully operational, these new computers should boost the company's overall hashrate capacity by 12%, or to about 2.8 EH/s.
For further details see:
Argo Blockchain daily bitcoin production down by 17% M/M in June