Argo Blockchain PLC has today released its July 2024 operational update, reporting the mining of 48 BTC, maintaining an average of 1.5 BTC per day, consistent with June 2024. The company generated $3 million in mining revenue, with a mining margin in the mid-20% range, slightly lower than the previous month due to a lower…
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Bitcoin miner Argo Blockchain has announced a private placement of its ordinary shares and accompanying warrants to an institutional investor. The transaction is expected to generate gross proceeds of approximately £6.5 million ($8.3 million). Argo Blockchain Announces $8.3 Million Private Placement According to the announcement, the bitcoin miner Argo Blockchain (Nasdaq: ARBK) will issue 57.8…
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Cryptocurrency mining firm Argo Blockchain has reduced its debts to $75 million through the first half of 2023. The Argo Blockchain mining company, which has been one of a number of firms to struggle amid negative market conditions and a highly competitive mining ecosystem, reported half year net losses of $18.8 million in 2023, down over…
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Marathon Digital also noted that the decrease in transaction fees for June was not a cause for concern, highlighting that Bitcoin Ordinals had provided a boost in the previous month. Bitcoin mining company Marathon Digital has linked the recent slump in its total amount of Bitcoin’s (BTC) mined in June to the weather conditions in…
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After a torrid 2022 that saw it sell off its flagship mining facility, Argo Blockchain’s woes are worsening after a recent class action suit. Investors of crypto mining firm Argo Blockchain have filed a class action lawsuit accusing the miner of making untrue statements and omitting key information during its initial public offering (IPO) in…
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On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October update, Argo said it did not believe the deal “will be consummated” and now two market analysts have downgraded the company’s shares. Argo Blockchain’s $27…
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CleanSpark bought over 3,800 mining machines at $15.50 per terahash – far below the current market price of $22.94 and an 85.4% discount from the all-time high costs of $106.62 in Dec. 2021. Sustainability-focused Bitcoin (BTC) mining company CleanSpark has snapped up another 3,843 cryptocurrency miners amid a backdrop of mining industry consolidation. The $5.9…
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Though the crypto winter seems to be over, its impact on Bitcoin and the crypto market still lingers. Several crypto-related firms have gone down the drain over the pressure in the market. Some are still battling to stay afloat despite the forces’ influence while managing their operations. Most companies related to Bitcoin mining are getting…
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ERCOT reported that wind generation in Texas was “generating significantly less,” potentially leaving the state unable to meet energy demands during triple-digit temperatures. With many parts of Texas enduring days of temperatures well over 100 degrees Fahrenheit in July, many crypto miners have shuttered operations in anticipation of the state’s energy grid being unable to…
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Argo reported it had an outstanding balance of $22 million on a loan from Galaxy Digital, from which it secured BTC-backed loan agreements in 2021. Argo Blockchain has joined crypto mining firms including Bitfarms, Core Scientific and Riot Blockchain in selling part of its Bitcoin holdings. In a Thursday blog post, Argo said it sold…
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