Argo Blockchain PLC, a global leader in cryptocurrency mining, released its operational update for March 2024. The company mined 103 Bitcoin, representing a 5% increase in daily production compared to the prior month, despite a 4% higher average network difficulty. Argo sold its Mirabel facility and relocated its mining machines to Baie Comeau, Quebec, with minimal impact on monthly Bitcoin production. The mining revenue for March 2024 amounted to $7.0 million, a 55% increase from the previous month. As of 31 March 2024, the company held digital assets worth the equivalent of 26 Bitcoin.
Argo CEO Thomas Chippas expressed satisfaction with the increase in daily Bitcoin production and emphasized the company's focus on streamlining operations and running as efficiently as possible as they approach the halving.
The announcement contains forward-looking statements reflecting the company's current views, interpretations, beliefs, or expectations regarding its financial performance and business strategy. It also addresses potential risks and uncertainties. The company undertakes no obligation publicly to update or review any forward-looking statement, subject to any obligations under applicable regulations.
For further information, interested parties can contact Argo Blockchain's Investor Relations or its corporate and joint brokers. Argo Blockchain PLC is a global leader in cryptocurrency mining.