Argo Blockchain Sees Sharp Drop in May Mining

Argo Blockchain (GB:ARB) has released an update.

Argo Blockchain PLC reported a significant decrease in Bitcoin mining in May 2024, mining 45 BTC, a 55% reduction from April, attributed to the Bitcoin halving effect on hashprice. The company’s mining revenue fell by 56% to $2.9 million despite improved mining margins through operational efficiencies. Additionally, Argo announced the issuance of 626,883 new shares under the 2022 Equity Incentive Plan, with the company’s total share capital reaching 578,397,673 ordinary shares.

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