- Argo Blockchain ( NASDAQ: ARBK ) mined 235 Bitcoin or Bitcoin Equivalent (together, BTC) in August 2022 compared to 219 BTC in July 2022.
- Based on daily foreign exchange rates and crypto rates, mining revenue stood at £4.39M (or $5.23M) compared to £3.89M (or $4.73M in prior month).
- The company generated this income at a bitcoin and bitcoin equivalent mining margin of 20% compared to 37% in prior month, primarily by decrease in the price of Bitcoin and higher electricity costs at Helios.
- As of August end, Argo owned 1,098 Bitcoin, of which 244 were BTC Equivalents.
- The company is continuing to install the new Bitmain S19J Pro machines at Helios, having achieved a total hashrate capacity of 2.5 EH/s by the end of August.
- Argo remains on track to complete the installation of the Bitmain machines by October 2022, which will increase its total hashrate capacity to 3.2 EH/s.
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Argo Blockchain mines ~7% higher bitcoins in August