Argo Blockchain Reports Bitcoin Mining Revenue Of $2.3M For August 2024 Down From $3M In July 2024
Portfolio Pulse from Benzinga Newsdesk
Argo Blockchain reported a decrease in Bitcoin mining revenue for August 2024, with revenue dropping to $2.3 million from $3 million in July. The company mined 38 BTC in August, down from 1.5 BTC per day in July, due to economic curtailments and lower hash prices.
September 05, 2024 | 6:19 am
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Argo Blockchain's Bitcoin mining revenue decreased to $2.3 million in August 2024 from $3 million in July, due to lower BTC production and hash prices.
The decrease in Bitcoin mining revenue and production, along with lower hash prices and higher power costs, negatively impacts Argo Blockchain's financial performance. This is likely to affect investor sentiment and the stock price negatively in the short term.
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