2023-06-06 03:13:29 ET
- Argo Blockchain press release ( NASDAQ: ARBK ): Q1 GAAP EPS of -$0.02 misses by $0.01 .
- Revenue of $11.44M (-41.4% Y/Y) beats by $0.37M .
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Adjusted EBITDA of $1.6M.
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Total BTC mined in the quarter was 491, or 5.3 BTC per day.
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Mining margin percentage for the quarter was 49%, an increase from a 35% mining margin percentage in Q4 2022.
- The Company ended the quarter with $14.2 million of cash on its balance sheet, along with 85 Bitcoin or Bitcoin Equivalent in its HODL.
- Moving forward, Argo expects to receive and install "BlockMiner" machines later this year at its Quebec facilities. This is expected to increase the Company's total hashrate to approximately 2.8 EH/s.
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Argo Blockchain GAAP EPS of -$0.02 misses by $0.01, revenue of $11.44M beats by $0.37M