Argo Blockchain Publishes February Operational Update

According to Argo statement published on London Stock Exchange, the company was able to boost its average daily production despite the visible growth of Bitcoin network difficulty during the last month, which rose by 10%.

Mining revenue for February totaled $3.76 million, determined by the daily fluctuations in foreign exchange rates and cryptocurrency prices throughout the month. Compared to $3.42 million in January, it translated to 9,94% monthly growth.

“I’m proud of the team for increasing our average daily Bitcoin production despite the increase in average network difficulty in February when compared to January. This is a testament to the hard work put in by our technology and operations teams. We continue to focus on strengthening our internal business processes and striving for operational excellence,” Seif El-Bakly, the Interim CEO of Argo, commented.

At the end of February, the company held 101 Bitcoin or ‘Bitcoin Equivalents’ and its total hashrate was 2.5 EH/s.

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