Argo Blockchain mined “a record number of BTC” in Q1 2020 (333 BTC in March) it’s stock price rose 10% today

posted 8 months ago
Crypto miner Argo Blockchain mined 918 Bitcoin (or Bitcoin equivalent) in the first three months of 2020, double their amount mined during the previous quarter. Argo said its operations have not been impacted by Coronavirus. The company also said it generated revenues of £1.8mln in March, down from £2.5mln in February because algorithmic difficulty increased early in the month, and the Bitcoin price saw a sharp decline in the 2nd week. Overall, revenues for the first quarter amounted to £6M.

Argo said it “remains on track” to deploy 1,000 Bitmain Antiminer S17+ machines by the end of April, increasing its BTC mining capacity by 10%. Chief executive Peter Wall said "Despite challenging conditions the company continues to deliver some of the best mining margins in the industry. This reflects Argo's high-quality mining infrastructure and expertise." Shares in Argo jumped 10% in early trading on Monday.
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