Argo Blockchain provides positive update on mining from August

Argo Blockchain holds 1,659 bitcoins on its balance sheet

Argo Blockchain (LON:ARB) made £6.83m in mining revenue last month, an increase of £2.23m, as the price of bitcoin rose.

The bitcoin mining company mined a total of 206 bitcoins in August, down from 225 in July, bringing the overall amount mined for the year-to-date to 1,314.

Argo sold 61 bitcoins last month, and kept a total of 1,659 bitcoins on its balance sheet, priced at a market value of $82m as of Friday morning.

Peter Wall, Chief Executive of Argo and interim Chairman said: “I am pleased that we have been able to deliver these results at an improved margin this month and continue to deliver value to our shareholders. We are also delighted to have released our Climate Strategy and remain committed in our efforts to enact positive change within the crypto mining sector.”

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Argo Blockhain, listed on the London Stock Exchange (LSE) at present, is weighing up a secondary listing on Nasdaq.

The London-based miner revealed the plan last month, adding that no decision has been made whether to go ahead. The company said that “there is no guarantee that the listing will be finalized,” while, “any proposed listing is subject to market and other conditions, and there can be no assurance as to whether or when the proposed listing may be completed.”

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