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Argo Blockchain plc released its September 2024 operational update on October 4, 2024. The Company mined 37 Bitcoin (1.2 BTC per day) and generated $2.2 million in mining revenue during September 2024. As of September 30, 2024, Argo Blockchain held 4 BTC equivalent, and its mining margin for the third quarter was below 10%.
| Date | 4 Oct 2024 |
| Time | 07:00:05 |
| Category | Corporate updates |
| ID | 9079G |
Press Release
4 October 2024
Argo Blockchain plc
("Argo" or "the Company")
September Operational Update
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to provide the following operational update for September 2024.
During the month of September, the Company mined 37 Bitcoin ("BTC"), or 1.2 BTC per day consistent with August 2024. BTC production was again impacted by economic curtailments during the month and low hash price.
Mining revenue in September 2024 amounted to $2.2 million down from $2.3 million in August 2024. Mining margin for the third quarter was below 10%, lower than the second quarter as a result of the lower hash price realized in the third quarter versus the second quarter, and higher power prices. As at 30 September 2024, the Company held 4 BTC equivalent.
This announcement contains inside information.
For further information please contact:
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Argo Blockchain |
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Investor Relations |
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Tennyson Securities |
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Corporate Broker Peter Krens |
+44 207 186 9030 |
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Fortified Securities |
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Joint Broker Guy Wheatley, CFA |
+44 7493 989014 |
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Tancredi Intelligent Communication UK & Europe Media Relations |
About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com.