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Seeking Alpha 2023-03-07 14:00:44

Argo Blockchain boosts daily bitcoin production by 7% M/M in February

Argo Blockchain ( NASDAQ: ARBK ) ( OTCPK:ARBKF ) mined 162 bitcoins ( BTC-USD ) in February, down from the 168 bitcoins generated in January, perhaps because February is the shortest month of the year. Even so, the London, U.K.-based miner increased its daily bitcoin ( BTC-USD ) production to 5.7 BTC vs. 5.4 in January. That's despite a 10% rise in average network difficulty from the prior month, it noted. Mining revenue of $3.76M advanced from $3.42M in January, based on daily foreign exchange rates and cryptocurrency prices. The company's total hashrate capacity stayed at 2.5 exahashes per second, and it held 101 bitcoin ( BTC-USD ) or bitcoin equivalents as of Feb. 28. ARBK slipped 1.8% in premarket trading. During the month, the company said its founder, Peter Wall, will step down as CEO.

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