IN BRIEF: Argo Blockchain's December Bitcoin mining revenue declines

Argo Blockchain PLC - London-based cryptocurrency miner - In the month of December, the company mined 214 bitcoin or bitcoin equivalent, a 16% rise compared to 185 BTC in November. This brings the total amount of bitcoin mined in 2021 to 2,045 BTC.

Mining revenue in December amounted to GBP7.8 million, down from GBP8.3 million in November, due to a lower BTC mining margin at 83% in December from 86% in November.

Looking ahead, the construction of its 200 megawatt flagship cryptocurrency mining facility in Dickens County, Texas is set to be completed in the first half of 2022.

"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. 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," said Chief Executive Peter Wall.

Current stock price: 84.84 pence

12-month change: down 28%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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