Bitcoin Miner Argo Blockchain Bought 172.5 BTC in January

With bitcoin trading near $36,500, the new holdings have a current value of over $6 million.

AccessTimeIconFeb 3, 2021 at 2:19 p.m. UTC
Updated Sep 14, 2021 at 11:05 a.m. UTC

Publicly traded bitcoin mining company Argo Blockchain (ARB) has disclosed buying 172.5 BTC in January as part of its asset management strategy.

  • The coins were purchased in the second half of January, the company said Wednesday. While an average purchase price was not disclosed, bitcoin mostly traded between $30,000 and $36,000 during that time.
  • With bitcoin trading near $36,500, the new holdings have a current value of over $6 million.
  • The London-based company also said it mined 93 BTC "or bitcoin equivalent" in January, slightly less than the 96 BTC (or equivalent) in December 2020.
  • Per the release, Argo held 501 BTC or equivalents at the end of January.
  • CEO Peter Wall said January was the "best month in the company's history in both mining revenue and profits."
  • Argo's Q4 2020 earnings are project to be released in late April.
  • Shares of Argo have soared over 1,350% in the past year. They are currently trading around $1.29, slightingly down from their peak in early January.

Correction (Feb. 3, 15:21 UTC): Argo shares price converted to dollars corrected.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.