Argo mined more bitcoins, increased revenue — despite network difficulty

Quick Take

  • Argo mined 162 bitcoins or equivalents in February.
  • The dual-listed blockchain technology company’s mining revenue amounted to $3.76 million.

The amount of bitcoin mined daily by Argo Blockchain and the mining company's revenue increased in February.

Last month, the dual-listed blockchain technology company mined 162 bitcoins or equivalents, equating to 5.7 bitcoins per day — an increase of 7% over January's average — it reported in a statement.

Considering February's daily foreign exchange rates and crypto prices, Argo's mining revenue amounted to $3.76 million — an increase over January's $3.42 million.

Argo's statement notes that it was able to see these increases despite a double-digit monthly rise in Bitcoin's average network difficulty.

The company held 101 bitcoins or equivalents on Feb. 28, and its total hash rate capacity remains at 2.5 EH/s.

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