Argo Blockchain PLC - August Operational Update
('Argo' or 'The Company')
August Operational Update
During the month of August, Argo mined 166 Bitcoin or Bitcoin Equivalent (BTC) compared to 165 Bitcoin Equivalent in July. This takes the total amount of BTC mined year-to-date to 2,001 BTC.
The number of coins mined in August compared to July can be attributed to the minor fluctuations in mining difficulty throughout August. Argo continues to mine at the most cost-efficient mining settings and is pleased with the overall mining performance given market conditions.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in August amounted to £1.49 million (
At the end of August, the company held 183 BTC in Bitcoin and BTC equivalents, in accordance with the Company's asset management strategy.
This month, Argo also claimed 100,000 Polkadot (DOT) which were purchased in Q1 2019 as part of Argo's research and innovation work into hybrid consensus mechanism blockchain projects. Polkadot is designed to enable interoperability among different blockchains, which could enable new use cases for blockchain and cryptocurrency. DOT is now trading at
Argo's total mining capacity stands at 18,000 machines and 730 Petahash in addition to 280 Megasols of equihash mining capacity.
This announcement contains inside information.
For further information please visit www.argoblockchain.com or contact:
via Tancredi +44 203 434 2334
+44 20 7220 0500
+44 7957 549 906
+44 7727 180 873
See Argo's largest facility in
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the
Quick facts: Argo Blockchain PLC
Market Cap: £19.09 m
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE