Drop in the Revenue of Argo Blockchain, Even After Mining Bitcoins


A total of 214 Bitcoins were mined by the sole crypto miner, Argo Blockchain, enlisted on LSE (London Stock exchange). They informed that “mining revenue fell by 5.7% in December, with prices of Bitcoin on the decline and an increase in the cost of production”.   

Around 214 Bitcoins were mined by the Argo blockchain last month. However, there was a fall in the mining revenue, and it fell to $10.6 million even though the number of Bitcoins mined was increased from 185. This was as a result of decreasing value of Bitcoin throughout the previous month.   

In comparison to Bitfarms and Marathon Digital in 2021, they produced 3,452 BTC and 3,197 BTC respectively. 

Last year Argo even purchased a data center in west taxes and to fill the data center it bought 20,000 Bitmain Antminer S19J Pro machines. The firm expected its hash rate to increase by more than 2 exahash per second to 3.7 exahash per second when the center is completed.   

Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as financial advice. Own research on the topic is advisable.

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