Bitcoin miner Argo increased production in February & mined 337.5 BTC with 17,000 machines, earning $3.2M

posted 4 months ago
Argo Blockchain increased its Bitcoin mining operations in February, it mined 337.5 Bitcoin, 37% more than January, bringing in revenue of 2.5 million GBP, 50% higher than its January revenue. Argo stated "Argo generated this income at a mining margin of 50% and the company continues to consider its operations to be among the most efficient in the market. Mining conditions in February and algorithmic difficulty were broadly unchanged from the previous month.”

The company met its target of 17,000 machines in production during Q1. Argo invested 7.4 million GBP in its machine production giving them an operational mining capacity of 665 petahash. The company also ordered 1,000 more machines, for 1.2 million GBP, expecting a total capaicity of 730 petahash.
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