Argo Blockchain's mining capacity affected in November due to network difficulty

Dec. 09, 2022 3:11 AM ETArgo Blockchain plc (ARBKF)By: Manshi Mamtora, CFA

  • Argo Blockchain (OTCQX:ARBKF) mined 198 Bitcoin or Bitcoin Equivalents in November compared to 204 BTC in October 2022.

  • The decrease in BTC mined was primarily due to an increase in the Bitcoin network difficulty in November compared to October.

  • The Company's total hashrate capacity continues to be 2.5 EH/s.

  • As of 30 November 2022, the Company held 126 Bitcoin, of which 116 were BTC Equivalents.

  • Mining revenue in November amounted to £2.94M or$3.46M (October 2022: £3.55M or $4M). The company generated this income at a Bitcoin and Bitcoin Equivalent Mining Margin of 29% for the month of November (October 2022: 32%)

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