RE: ii write up ARB small mention8 May 2020 15:17
Argo Blockchain results
LSE-listed bitcoin miner Argo Blockchain (LSE:ARB) this week reported that it had mined 1,237 bitcoin in the first quarter ending April, although revenues were flat (£1.8 million), with mining difficulty adjustment impacting margins.
Nevertheless, the minting figures show a production increase of 122% on the previous quarter. It now has a total of 18,000 mining machines installed, which includes the addition of 1,000 Antminer S17 machines, the latest offering from manufacturer Bitmain.
The company has also replaced chief financial officer Timothy Le Druillenec with immediate effect. John Savage takes over.
Argo’s shares rose 2% on Tuesday in early market reaction to the news.
The mining firm closed its consumer-facing operation early last year to concentrate on mining on its own account.