Argo Blockchain has announced its interim half-year results for 2023. The company reduced non-mining operating costs and expenses by 21% in Q2 2023 compared to the previous quarter, resulting in a positive adjusted EBITDA of $1.0 million for the quarter and $2.3 million for H1 2023. Argo also reduced its debt by $4 million during the quarter to $75 million as of June 30, 2023, a reduction of $68 million from the previous year. The total number of Bitcoin and Bitcoin Equivalent (BTC) mined during H1 2023 was 947, a 1% increase over H1 2022, despite a 78% increase in the global hashrate. Revenues for H1 2023 were $24.0 million, a decrease of 31% from H1 2022, driven primarily by a decrease in Bitcoin price and the increase in the global hashrate. The net loss for H1 2023 was $18.8 million, compared to a net loss of $39.6 million in H1 2022. The company ended June 2023 with $9.1 million of cash and 46 BTC on its balance sheet. Argo raised $7.5 million in gross proceeds via a share placement in July 2023. The company is involved in advanced discussions to sell certain non-core assets and is evaluating options for further reducing debt. Argo has increased its total hashrate capacity to 2.6 EH/s with the deployment of 1,242 BlockMiner machines at its Quebec facilities and expects to deploy an additional 1,628 BlockMiners in the coming months, increasing the total hashrate capacity to 2.8 EH/s. The company achieved a mining margin of 42% in H1 2023, an increase from 33% in H2 2022, primarily due to the establishment of a fixed price power purchase agreement at Helios. The agreement provides greater certainty of power costs and allows the company to generate power credits via economic curtailment. In Q2 2023, the company generated approximately $1.1 million in power credits, and it expects to generate more significant power credits during Q3 2023. The company also provided reconciliations of mining margin percentage to gross margin and adjusted EBITDA to net loss/income for the six-month periods ended June 30, 2023, and June 30, 2022.