Crypto Miner Argo’s Strategy Pay Off in Q1 2024 with Reduced Losses

Argo
Blockchain, a publicly-listed cryptocurrency mining company, announced its
unaudited financial results for the first quarter of 2024, which showed an
improvement compared to the same period last year. The company reported a
revenue of $16.8 million, a 4% increase from the previous quarter, and a
threefold reduction in net loss to $3.2 million. Compared to last year, revenues grew by almost 50%.

The company
successfully increased its mining margin to $6.4 million from the $5.2 million
reported the previous year, resulting in a gross profit of $1.9 million
compared to a loss in Q1 2023.

Argo mined
a total of 319 Bitcoin
Bitcoin

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that

While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that
Read this Term (BTC) during the quarter, averaging 3.5 BTC per day,
with the adjusted EBITDA for the quarter standing at $3.8 million.