Argo Blockchain increased revenue by a third

Argo Blockchain increased revenue by a third

Revenue at mining company Argo Blockchain rose 32% in October, to £7.24 million ($9.75 million). During the month, the firm increased production from 165 to 167 BTC or their equivalents.

Since the beginning of the year, the company has mined 1,646 BTC. Argo Blockchain owned 2,182 BTC ($42.8 million) at the end of October.

During the month, Argo Blockchain increased its computing capacity by 220 PH/s to 1,295 EH/s.

In a press release, the company announced that Colleen Sullivan is stepping down from the board of directors three months after her appointment. Her decision is due to a move to another position and is not the result of a disagreement with management or the board.

Argo Blockchain shares are listed on the London Stock Exchange and Nasdaq. The latter started trading on Sept. 23. The company announced the event in July and filed with the SEC in August.

As a reminder, in September Argo Blockchain negotiated a £18 million (~$25 million) loan from Galaxy Digital to expand the site's capacity in Texas, USA.

Jack Evans

About the author

I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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