Argo Blockchain Mined 48 BTC in July, Sets Revenue Record
CryptoNewsTerminal Staff05 Aug, 2024
Argo Blockchain Mined 48 BTC in July, Sets Revenue Record
Argo Blockchain, a publicly traded cryptocurrency mining company, mined 48 bitcoins (BTC) in July, according to an announcement on Bitcoin.com. The company, which operates mining facilities in the UK and North America, produced an average of 1.5 BTC per day throughout the month, setting a new record for mining revenue of $3 million. This represents a significant increase from the previous month, when Argo mined 38 BTC. As of July 31, Argo held 11 BTC in reserves. The company's strong performance in July is due in part to the recent increase in the price of Bitcoin, which has been hovering around $23,000 in recent weeks. Argo is expected to continue mining Bitcoin profitably, and its operations are well-positioned to benefit from further increases in the price of the cryptocurrency.
