Debt-ridden Bitcoin (BTC) miner Argo Blockchain mined 147 BTC in December — 25.75% less than the 198 BTC it mined in November.
Argo said that the fall in mined BTC was primarily due to the curtailment of operations in the Texas facility during the arctic blast.
Argo’s CEO Peter Wall said:
“While our mining results for December were lower than anticipated, the primary driver was the winter storm which led us to curtail operations at Helios.”
The curtailment also reduced Argo’s mining revenue by nearly a million U.S. dollars or 28% from $3.46 million in November to $2.49 million last month. However, its Bitcoin and Bitcoin Equivalent Mining Margin improved to 48% in December compared to 29% in November.
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