Argo Blockchain has announced its Q3 2023 results, reporting a number of financial and operating highlights. The company accrued $4.4 million in power credits from economic curtailment at Helios during periods of high electricity prices, leading to an increase in mining margin from 36% in Q2 2023 to 58% in Q3 2023. The average direct cost per Bitcoin mined decreased by 33% from $17,566 per Bitcoin in Q2 2023 to $11,736 per Bitcoin in Q3 2023. Argo also achieved a positive Adjusted EBITDA of $3.1 million for the quarter and mined a total of 370 Bitcoin and Bitcoin Equivalents, generating $10.4 million of revenue. The company reduced its debt owed to Galaxy Digital from $32 million to $27 million and ended the quarter with $8.0 million of cash and 32 BTC on its balance sheet. However, Argo recorded a net loss of $9.9 million for Q3 2023.