Argo Blockchain’s Mining Revenue Increased 15% in November as It Added Capacity
The company mined 185 bitcoins or bitcoins equivalent during the month, bringing its 2021 total to 1,831.
Dec 7, 2021 at 11:09 a.m. UTCUpdated May 11, 2023 at 7:03 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/6DZO7A4DFRDFHACFR7GQP5P6FQ.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Argo Blockchain’s bitcoin mining revenue increased by about 15% to £8.29 million ($11 million) in November from October as it increased its mining capacity.
- The London-based company mined 185 bitcoins “or bitcoins equivalent,” up from 167 in October.
- Its total production for 2021 is 1,831, the company announced Tuesday.
- Mining profit also rose about 15%, hitting £7.13 million ($9.63 million).
- Mining capacity grew by 310 petahashes per second to 1.605 exahashes per second as of Nov. 30. Petahash and exahash are measures of computing power.
- Argo Blockchain (LSE: ARB, NASDAQ: ARBK) is the only crypto miner listed on the London Stock Exchange. It started trading on the Nasdaq Global Market in September.
- The London shares were trading about 5% higher at publication time.
00:54
APAC Demand for Crypto Exposure Remains High Despite Hong Kong ETFs' Soft Debut
02:13
Binance CEO Calls on Nigeria to Release Detained Executive; Galaxis Raises $10M
00:46
Should You Sell in May and Go Away?
11:52
Bitcoin ETFs Are Still 'Wildly Successful': Kraken Head of Strategy
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/008ae87f-5c6e-412b-816b-ded600ac5054.png)
Jamie Crawley is a CoinDesk news reporter based in London.