11 fold increase in revenue.29 Apr 2020 08:34
It doesn’t get much better than that.....
Argo Blockchain Plc
("Argo or "the Group")
Audited 2019 Results
Revenues surge 11-fold as mining operations gain momentum
Argo Blockchain Plc, a leading UK-based cryptocurrency miner, (LSE: ARB), is pleased to announce its audited results for the year ended 31 December 2019.
Financial highlights
? Revenue increased by 11-fold to £8.62 million (2018: £0.76m)
? Gross margin increased to 35% (2018: -54%)
? Operating loss reduced by 80% to £0.83m (2018: £4.14m loss)
? EBITDA* amounted to £1.39m (2018: £3.66m loss)
? Net loss attributable to shareholders declined to £0.69m (2018: £4.12m loss)
Operating highlights
? Successfully transitioned from a consumer-facing 'mining-as-a-service' to a proprietary mining model in response to challenging industry conditions in Q1 2019
? Executed a £15m capital investment program to establish one of the world's leading cryptomining platforms by a company listed on a major stock exchange
? Total number of Bitcoin (BTC) mined was approximately 1,330
? Mining hardware in production increased by 306% to approximately 7,000 by year-end