Argo Blockchain Share Discussion Threads

[338] 05/8/2020 07:11

The average monthly mining margin in July has increased to £425,000 (of approximately 34%) from £380,700 (27%) in June.... despite a lower productivity

[seball] 05/8/2020 07:07

Solid update, nothing unexpected. Onwards and upwards. Good luck all

[purplepelmets] 05/8/2020 07:04

05 August 2020

 

Argo Blockchain PLC

('Argo' or 'The Company') 

July Operational Update

 

Argo, the leading cryptocurrency miner based in the UK (LSE:ARB), is pleased to provide the following operational update for July 2020.

During the month of July, Argo mined 165 Bitcoin or Bitcoin Equivalent (BTC) compared to 180 Bitcoin Equivalent in June. This takes the total amount of BTC mined year-to-date to 1,834 BTC. 

The reduction in the number of coins mined in July compared with the number mined in June was a result of a rise in mining difficulty mid-month. Argo continues to mine at the most cost-efficient mining settings and is pleased with the overall mining performance given market conditions.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in July amounted to £1.25 million (June 2020: £1.41 million).  Argo generated this income at an average monthly mining margin of approximately 34% for the month of July (June 2020: 27%). 

At the end of July, the company held 76 BTC in Bitcoin and BTC equivalents, in accordance with the Company's asset management strategy.

Argo's total mining capacity stands at 18,000 machines and 730 Petahash in addition to 280 Megasols of equihash mining capacity. 

Peter Wall, Chief Executive of Argo, said: "We are delighted the month of July saw Bitcoin break through the US$10,000 barrier as this will have a material and positive impact on our mining margins going forward if the price stays above this level. The directors consider Argo to be one of the most efficient miners in the sector and well placed to capitalise on the increase in the price of Bitcoin as a result."

This announcement contains inside information.

[aidenabettin] 05/8/2020 06:42

A bit too optimistic .$10

[aidenabettin] 05/8/2020 06:39

$LINK.$10K today?

[kcowe] 05/8/2020 05:03

The opposite can also be true Plat Hunter .... consolidation 10800-11500 .. and a break out to 14000... and higher .

[plat hunter] 04/8/2020 23:33

As has 'Fanny Is My Name'

[francoismyname] 04/8/2020 23:28

Plat the tw@t

Got a ring to it.

[plat hunter] 04/8/2020 20:15

10,800 support in play now if it breaks out below that then it's 10,500 for the next stop then back below 9,500.

[plat hunter] 04/8/2020 18:27

Again Parsons you surprise with your stupidity.Didn't you lose your shirt recently on WRES, I'm sure you a hard time with accountancy over there too.

[mnomis] 04/8/2020 18:04

Gold $2k, BTC +++, who would have thought printing free $'s had a cost!

[46maxon] 04/8/2020 17:07

This is what I foresaw. My reason for being v bullish short/mid term on BitCoin.

[amazoner] 04/8/2020 16:26

big day tomorrow

[aidenabettin] 04/8/2020 16:12

Didnt produce all that Tether not to be used.Massive buying spree on the way for crypto

[aidenabettin] 04/8/2020 16:11

hTTps://twitter.com/winklevoss/status/1290666066331533312?s=19

[parsons4] 04/8/2020 16:07

But bitcoin is not $8000 so what is the point. It is like saying to GOLD investors what happens if GOLD goes down to $1000 per oz !!!!!!

[brasso3] 04/8/2020 16:05

Gold on the charge today. BTC has been following 1 or 2 days later.

[plat hunter] 04/8/2020 15:46

What happens here with bitcoin at $8,000?

[orm5] 04/8/2020 14:58

30% monthly mining margin for July - that's my prediction

[plat hunter] 04/8/2020 14:37

I'll be surprised if EBITDA margins are greater than 25%.

[orm5] 04/8/2020 14:34

I'm expecting circa 1.5m GBP revenue and circa 30% margin for July. I think this will be a turning point as it will be the first time the margin has increased and I expect this to increase further in August

[plat hunter] 04/8/2020 14:24

Agreed Brasso

[brasso3] 04/8/2020 14:22

We will soon find out revenues/ margins for July where BTC averaged $9300 and ZEC averaged $60. That will allow us to have a good indication about the step change in August.