Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, FRA:0XP) (LON:ARB) (OTCQX:ARBKF) CEO Peter Wall tells Proactive long-term profitability and sustainability is paramount for the group, as it reports a profit surge in its first half as a boom in Bitcoin prices and an expansion of its crypto mining operations lifted revenues.
Wall says the crypto miner reported a pre-tax profit of £10.7mln, up from £0.5mln in the prior year, while revenues surged 180% to £31.1mln, reflecting the company’s increase in production as well as the rise in Bitcoin prices over the period.