Dyor9 Aug 2021 17:22
Argo Blockchain, one of the leading cryptocurrency mining firms, today released its financial results for the six months ended 30 June 2021. The company posted strong growth in revenues and pre-tax profit.
According to the results, the revenues of Argo Blockchain reached £31.1 million in H1 2021, which is 180% higher compared to the same period in 2020. The latest jump in revenues was mainly driven by an increase in production and a surge in the price of Bitcoin.
Argo also reported a pre-tax profit of £10.7 million for the first six months of 2021, compared to £0.5 million in H1 2020. Earnings before interest, tax, depreciation and amortization (EBITDA) jumped by 332% to £16 million in H1 2021.