Argo Blockchain posts 32% rise in October revenue

Argo Blockchain’s mining revenue in October rose by 32%, to £7.24m ($9.75m). In the month the firm increased its mined output from 165 to 167 BTC or equivalents.

New RNS:

October Operational Update

— Mined 167 Bitcoin or equiv in Oct
— Mining revenue was £7.24m ($9.75m USD) at mining revenue of 86%
— BTC total mined Year to Date: 1,646
— At month-end held 2,128 BTC or equiv#ARB $ARBK#BTC

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— Argo (@ArgoBlockchain) November 8, 2021

Year-to-date, the company mined 1,646 BTC. By the end of October Argo Blockchain held 2,182 BTC ($42.8m).

During the month Argo Blockchain increased hash power by 220 PH/s — to 1,295 EH/s.

In a press release, the company announced the departure of Colin Sullivan from the board three months after appointment. Her decision relates to taking on another role and is not the result of any disagreement with management or the board.

She has taken on a new career role that does not allow her to serve as a director for Argo and her resignation is not the result of any disagreement with the management or Board of the Company.#ARB $ARBK#BTC

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— Argo (@ArgoBlockchain) November 8, 2021

Argo Blockchain shares are listed on the London Stock Exchange and Nasdaq. Trading on the latest session began on September 23. In July the company announced this event, in August filed a filing with a SEC.  

Earlier in September, Argo Blockchain agreed to a Galaxy Digital loan of £18m (~$25m) to expand the facility’s capacity in Texas, USA.

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