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(Alliance News) - Cryptocurrency miner Argo Blockchain PLC on Tuesday reported a record amount of bitcoin mined in the first four months of the year, despite a slight slip in April.
So far in 2020 the company has mined 1,237 bitcoin or bitcoin equivalent, more than double over the previous four-month period.
Month-to-month, Argo's output slipped 4.4% to 319.2 bitcoin or bitcoin equivalent from 333.8 in March.
Measured by value, though, mining revenue was flat from March at GBP1.8 million.
"Mining conditions in April were slightly harder as algorithmic difficulty increased twice in the month," Argo said.
It added that it has installed 1,000 new mining machines, boosting its infrastructure to 18,000 machines.
Meanwhile, Chief Financial Officer Timothy Le Druillenec has stepped down with immediate, to become a non-executive director.
James Savage, who has "held roles managing audits of large multinational groups", replaces Le Druillenec.
Argo shares were 4.7% lower at 5.29 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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