Argo Blockchain PLC, a leading global cryptocurrency miner listed on both the London Stock Exchange (LSE:ARB) and NASDAQ (NASDAQ:ARBK), has released its operational update for July 2023. The company reported mining 129 Bitcoin or Bitcoin Equivalents (BTC), averaging 4.2 BTC per day. This represents an 11% decrease from the daily average of 4.6 BTC in June 2023, primarily due to increased downtime at the Helios facility caused by weather-related curtailment and onsite construction.
Despite the decrease in BTC production, Argo Blockchain’s mining revenue for July remained stable at $3.87 million, closely mirroring the $3.84 million generated in June 2023. As of July 31, 2023, the company held 46 BTC.
Argo Blockchain also reported the installation and energization of 1,242 BlockMiner machines at its Quebec facilities in July, adding approximately 130 PH/s to its total hashrate capacity, which now stands at around 2.6 EH/s. The company…
