Argo Blockchain PLC pleased with Bitcoin mining performance in August

“I’m pleased that we have now been in a position to ship these outcomes at an improved margin this month and proceed to ship worth to our shareholders,” stated chief government Peter Wall

(, , ) generated £6.83mln of cryptocurrency mining income in the month of August, up from £4.6mln final month, amidst increased market costs.

The blockchain know-how firm mined a complete of 206 Bitcoins or Bitcoin equivalents in the month, in comparison with 225 in July and stated the tally for the primary eight months of 2021 amounted to 1,314. Mining margin was round 86% for the month.

A complete of 61 Bitcoins had been bought by Argo in the course of the month and it retained a complete of 1,659 Bitcoins value US$82mln based mostly on a market Bitcoin worth of US$49,500 on Friday morning.

“I’m pleased that we have now been in a position to ship these outcomes at an improved margin this month and proceed to ship worth to our shareholders,” stated chief government Peter Wall.

“We are additionally delighted to have launched our Climate Strategy and stay dedicated in our efforts to enact optimistic change throughout the crypto mining sector.”

In mid-August, the corporate introduced it was the primary publicly-traded cryptocurrency miner to turn out to be local weather optimistic from scope one, two and greenhouse gasoline (GHG) emissions from the worth chain related with its mining operations.

When releasing its local weather technique, the corporate stated being local weather optimistic meant it’s addressing its personal GHG emissions to turn out to be carbon impartial and going even additional by mitigating emissions by means of the assist of initiatives outdoors of the group.

Argo’s local weather technique contains ongoing and future initiatives in power effectivity, lowering e-waste, use of waste warmth in partnership with native municipalities, carbon seize and supporting the business with sustainability requirements.

Also in August, the corporate filed for an preliminary public provide (IPO) in New York on the Nasdaq Global Market.

The carbon-neutral cryptocurrency miner stated it intends to listing its American Depositary Shares (ADSs) beneath the image ‘ARBK’ and can preserve its itemizing on London’s most important market. Investment banks Barclays and Jefferies had been appointed as joint book-running managers for the proposed providing.

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