Argo Blockchain boosts Bitcoin mining by 14% in January
In January, the British mining company Argo Blockchain mined 168 BTC. This was 14% higher than the previous month — 147 BTC.
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\”The increase in bitcoin production was driven mainly by fewer hours of equipment downtime in January compared with December, when a severe winter storm affected much of the United States,\” the statement said.
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The firm noted that this advantage was partially offset by the rising mining difficulty of the first cryptocurrency. During the reporting month the metric hit an all-time high twice обновил исторический максимум.
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Based on daily bitcoin prices, Argo’s mining revenue in January amounted to $3.42 million (£2.80 million) vs $2.49 million (£2.07 million) in December.
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As of January 31 the company held cryptocurrency reserves of 115 BTC. Total hash rate stood at 2.5 EH/s.
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At the end of December Argo signed an agreement with Galaxy Digital Holdings Mike Novogratz to sell the flagship data centre Helios in Texas for $65 million. The deal is in the process of closing. Following the change of ownership of the facility, the company will stop publishing monthly mining-revenue data.
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In January a class-action lawsuit was filed against Argo . An investor accused the firm of concealing key information during the ICO and of making false statements.
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Argo commented on the complaint, which will be heard by the U.S. District Court for the Eastern District of New York:
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\”The company rejects all allegations and considers this class-action baseless. Argo will vigorously defend itself.\”
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As counsel, the company has retained the international law firm McDermott Will & Emery.
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In January Argo avoided delisting from Nasdaq (the company also trades on the LSE). In December the U.S. platform warned the firm about rule violations — for 30 months, the shares traded below $1.
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