2 years ago
Crypto miner Argo Blockchain’s (ARB) February gross and bitcoin accumulation fell from the erstwhile period arsenic Bitcoin web trouble accrued and a wintertime tempest hampered data-center activity.
Revenue fell astir 21% from January to $5.58 million, portion bitcoin-equivalent mined fell 22% to 135, according to a statement.
The little accumulation resulted from a higher planetary web hashrate that led to an summation successful web trouble arsenic good arsenic curtailments of operations astatine its facilities successful Quebec and North Dakota owed to atrocious weather.
"During February, we person experienced exceptional upwind conditions and are hopeful that these are down us,” CEO Peter Wall said.
Argo, 1 of the fewer publically traded miners that provides gross and borderline numbers with monthly accumulation updates, besides said its mining borderline narrowed to 71% from 74% successful January.
On March 3, privately held miner Gem Mining, besides said that its bitcoin accumulation fell successful February owed to the summation successful planetary hashrate and the interaction of curtailing operations to enactment assemblage needs for other power.
Argo shares fell astir 1% successful London connected Monday, portion bitcoin was somewhat higher.
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Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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