Argo Blockchain, Bitcoin mining, London Stock Exchange, Peter Wall, Reserve asset

Argo Blockchain said Wednesday that it bought 172.5 bitcoins in the second half of January as part of its asset management strategy.

◠In a trading update, the London Stock Exchange-listed bitcoin miner also reported strong revenue growth during the review month, climbing 52% to £2.48 million ($3.37 million) from £1.63 million ($2.21 million) in December.

â— Argo did not reveal how much it spent buying the reserve BTC, but bitcoin prices during the last half of January oscillated between $30,000 and $38,500. The company said it now holds the equivalent of 501 in bitcoin, as of the end of January.

â— For the month in review, Argo Blockchain mined 93 bitcoins, down from 96 BTC in December. Mining output appears to have progressively declined at the London firm over the last few months. In November, Argo extracted 115 BTC, falling from 126 BTC mined in October.

â— Peter Wall, chief executive officer of Argo, said: “I am thrilled that Argo has delivered our best month in the company’s history in both mining revenue and profits. The year has started off very strong.â€

◠Argo operates 16,000 bitcoin mining rigs located throughout North America, with a capacity of 645 petahash per second (PH/s) in bitcoin mining hashrate. The company also mines privacy coin zcash (ZEC) and claims to operate 5% of the global ZEC hashpower total. Argo’s total mining capacity is currently 787 petahash (SHA-256) in addition to 280 Megasols of equihash mining capacity as well.

◠Shares of Argo Blockchain are up 0.64% at £95 ($129) in afternoon London trading Thursday. The stock has soared more than 1,100% over the last three months.

What do you think about Argo’s bitcoin purchase? Share your thoughts in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

RELATED NEWS

China’s Bitcoin Mining Rig Manufacturers Pressed by Demand, Advance Orders, Devices Sold Out

A regional report from China indicates that bitcoin mining rig manufacturers have seen a massive surge in demand since the price of the leading crypto asset skyrocketed. Companies such as Canaan Creative have placed significantly sized mining rig orders while other companies like Bitmain are completely sold out. Bitcoin Mining Rig Manufacturers Experience a Device […]

Xem chi tiết: China’s Bitcoin Mining Rig Manufacturers Pressed by Demand, Advance Orders, Devices Sold Out

Report: Bitcoin Mining Firm Northern Data AG Plans for a $500 Million IPO

While the public prepares for the upcoming Coinbase public offering, the mining firm Northern Data AG is reportedly planning to go public as well. Sources say that the mining business is in talks with Credit Suisse Group to launch an initial public offering (IPO) in the United States. Report: Sources Say Northern Data AG IPO […]

Xem chi tiết: Report: Bitcoin Mining Firm Northern Data AG Plans for a $500 Million IPO

Russian Crypto Mining Companies Are Expanding Capacity as the Country Becomes a ‘Preferred Hotspot’

Crypto mining operations have been witnessing some changes within the industry in terms of locations. A recent interview with the CEO of the mining giant Bitriver, revealed that Russia is becoming a preferred hotspot for crypto miners. Russian Mining Giant to Build Two Additional Facilities to Cope With the High Demand According to Igor Runets, […]

Xem chi tiết: Russian Crypto Mining Companies Are Expanding Capacity as the Country Becomes a ‘Preferred Hotspot’

Russian Crypto Mining Companies Are Expanding Capacity as the Country Becomes a ‘Preferred Hotspot’

Crypto mining operations have been witnessing some changes within the industry in terms of locations. A recent interview with the CEO of the mining giant Bitriver, revealed that Russia is becoming a preferred hotspot for crypto miners. Russian Mining Giant to Build Two Additional Facilities to Cope With the High Demand According to Igor Runets, […]

Xem chi tiết: Russian Crypto Mining Companies Are Expanding Capacity as the Country Becomes a ‘Preferred Hotspot’

Malaysian Police Bust Gang That Stole $2.15 Million Worth of Electricity to Mine Bitcoin

Police in Malaysia’s Jahor state have busted a seven-men gang that stole 8.6 million Malaysian ringgits ($2.15 million) worth of electricity to mine bitcoin and other cryptocurrencies. â— Police said they seized 1,746 bitcoin (BTC) mining machines across 21 premises in raids carried out between Feb.15 and Feb.16, the Malay Mail reported. The miners are […]

Xem chi tiết: Malaysian Police Bust Gang That Stole $2.15 Million Worth of Electricity to Mine Bitcoin

Bitcoin Miners Strain Under Semiconductor Supply Crunch, Second-Hand Mining Rig Prices Soar

Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars, PCs, laptops, smartphones, and cryptocurrency mining devices. Moreover, the recent shortage has invoked the demand […]

Xem chi tiết: Bitcoin Miners Strain Under Semiconductor Supply Crunch, Second-Hand Mining Rig Prices Soar

Bitcoin Miners Strain Under Semiconductor Supply Crunch, Second-Hand Mining Rig Prices Soar

Bitcoin mining rig manufacturers are dealing with a semiconductor supply crunch according to regional reports stemming from China. There’s been a global semiconductor supply shortage and it’s affecting nearly every type of business in the supply chain that manufactures cars, PCs, laptops, smartphones, and cryptocurrency mining devices. Moreover, the recent shortage has invoked the demand […]

Xem chi tiết: Bitcoin Miners Strain Under Semiconductor Supply Crunch, Second-Hand Mining Rig Prices Soar

Marathon Patent Group Buys $150 Million Worth of Bitcoin as a Reserve Asset

Marathon Patent Group announced Monday that it bought 4,813 bitcoins in a deal worth $150 million. The firm joins the growing list of publicly listed companies holding bitcoin in their treasuries. Merrick Okamoto, chairman and chief executive officer of Marathon, said the Nasdaq firm is buying bitcoin (BTC) as a reserve asset. “We…believe that holding […]

Xem chi tiết: Marathon Patent Group Buys $150 Million Worth of Bitcoin as a Reserve Asset

While BTC’s Hashrate Remains High, It’s More Difficult Than Ever Before to Mine Bitcoin

Montana County to Hold Public Hearings on Zoning Rules for Crypto Miners Amid Growing Complaints

Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s

Bitcoin Energy Consumption Is Far More Efficient and Greener Than Today’s Banking System

Rapid Profits: Bitcoin Hashrate Accelerates While Mining Difficulty Touches All-Time High

A Russian Operation Is Mining Bitcoin in the Arctic Circle for Cheap Electricity

Pakistan to Set up Two State-Owned Bitcoin Mining Farms to Help Boost Economy

Other Articles