Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) said it mined 144 bitcoin or bitcoin equivalents (BTC) in April, averaging 4.8 BTC per day.
That was a decrease of 8% compared to March yields, primarily driven by an 8% sequential increase in the average network difficulty during the month of April.
As of April 30, 2023, Argo Blockchain held 83 bitcoin or bitcoin equivalents in reserve.
The company maintains a total hashrate capacity of 2.5 EH/s heading into May.
In the third quarter of 2023, Argo Blockchain expects to commence installation of 2,870 BlockMiner machines from ePIC Blockchain Technologies at its Quebec facilities, representing an additional 0.3 EH/s of hashrate capacity, bringing total capacity to 2.8 EH/s.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in April amounted to US$4.17mln (£3.35mln), an increase of 3% over the prior month’s revenues of US$4.05mln (£3.28mln).