Argo mined more bitcoins, increased revenue — despite network difficulty
The amount of bitcoin mined daily by Argo Blockchain and the mining company’s revenue increased in February.
Last month, the dual-listed blockchain technology company mined 162 bitcoins or equivalents, equating to 5.7 bitcoins per day — an increase of 7% over January’s average — it reported in a statement.
Considering February’s daily foreign exchange rates and crypto prices, Argo’s mining revenue amounted to $3.76 million — an increase over January’s $3.42 million.
Argo’s statement notes that it was able to see these increases despite a double-digit monthly rise in Bitcoin’s average network difficulty.
The company held 101 bitcoins or equivalents on Feb. 28, and its total hash rate capacity remains at 2.5 EH/s.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Adam James
