• Argo Blockchain’s First-Half Revenue Increases Due to Bitcoin Production and Price

  • Argo Blockchain reported a 180 percent increase in first-half revenue to £31.1 million ($43 million) as it produced more bitcoin and the price of the cryptocurrency increased.

    The mining company, which is listed on the London Stock Exchange, also reported a more than 300 percent increase in earnings before interest, tax, depreciation, and amortization to £16 million ($22 million).

    Argo had 1,268 bitcoin and bitcoin equivalent as of June 30, up from 127 the previous year.

    The performance was attributed to a shift in market conditions by Argo CEO Peter Wall.

    Bitcoin’s price had risen to around $36,000 at the end of June, up from around $9,200 a year earlier.

    Argo Blockchain shares have fallen more than 6% today as of the time of writing.

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