Last month, Argo Blockchain (ARB ) mined 214 Bitcoin or Bitcoin Equivalent (together, BTC) compared to 185 BTC in November, bringing the amount of BTC mined in 2021 to 2,045 BTC.
In an operational update for December 2021, the cryptocurrency mining company reported that based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in December amounted to £7.82m compared to £8.29m in the prior month.
Argo told investors that it had generated this income at a Bitcoin and Bitcoin Equivalent Mining Margin of approximately 83% for the month of December (November 2021: 86%).
At the end of December, the Company owned 2,595 Bitcoin or Bitcoin Equivalent, it noted.
In regard to the construction of its 200MW flagship cryptocurrency mining facility, Helios, in Dickens County, Texas, Argo informed investors that its facility remains ‘on time’ and that the main structure, outside facade, and roof of the mining facility have now been completed.
The Company outlined that the next phase of construction and build out of essential infrastructure is ‘ongoing, with a projected completion date in the first half of 2022.’
Commenting on this morning’s update, Peter Wall, Argo’s CEO and interim Chairman, said: “2021 has been a transformational year for both Argo and the cryptocurrency sector. We began development on our mining facility in Texas and we took Argo to NASDAQ.”
He added: “Our efforts allowed us to expand our global presence and we look forward to the year ahead and the opening of our mining facility in Dickens County, Texas”.
At the end of November 2021, Argo added an additional 310 PH/s to its total capacity, bringing its total mining capacity at the time to 1.605 EH/s as of 30 November 2021.
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