Argo Blockchain Reports Stable Bitcoin Production for September

Argo Blockchain plc, a global player in cryptocurrency mining, has released its operational update for September 2024. The company maintained its Bitcoin production at 37 BTC for the month, equating to an average of 1.2 BTC per day, consistent with August's figures. However, production was influenced by economic curtailments and a low hash price.

In September 2024, Argo recorded mining revenue of $2.2 million, a slight decrease from $2.3 million in August. The mining margin for the third quarter was reported at below 10%, reflecting lower hash prices and increased power costs compared to the second quarter. By the end of September, Argo held 4 BTC in reserve.

This update highlights Argo's consistent Bitcoin production amidst fluctuating economic and operational conditions.