Argo Blockchain Buys 172.5 Bitcoins as Reserve Asset, Monthly Revenue Soars 52% – Mining Bitcoin News

Argo Blockchain announced on Wednesday that it bought 172.5 bitcoins in the second half of January as part of its wealth management strategy.

● In a trading update, the Bitcoin miner listed on the London Stock Exchange also saw strong sales growth in the month under review, rising 52% from £ 1.63m ($ 2.21m) in December to £ 2.48m ( 3.37 million USD).

● Argo did not disclose how much it had spent buying the reserve BTC, but Bitcoin prices hovered between $ 30,000 and $ 38,500 in the last half of January. The company announced that it held the equivalent of 501 bitcoin at the end of January.

● In the month under review, Argo Blockchain mined 93 bitcoins, up from 96 BTC in December. Mining production appears to have been declining at the London firm in recent months. In November, Argo extracted 115 BTC after mining 126 BTC in October.

● Peter Wall, Argo’s Chief Executive Officer, said, “I am thrilled that Argo had our best month in both mining revenue and profits. The year started very strong. “

● Argo operates 16,000 bitcoin mining rigs across North America with a capacity of 645 petahash per second (PH / s) in bitcoin mining hash. The company also promotes Privacy Coin Zcash (ZEC) and claims to power 5% of the world’s ZEC hash power. Argo’s total mining capacity is currently 787 Petahash (SHA-256), in addition to 280 Megasol Equihash mining capacity.

● Argo Blockchain’s shares were up 0.64% to £ 95 ($ 129) in the afternoon of Thursday’s London trading. The stock is up more than 1,100% in the past three months.

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