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Argo blockchain continues to show its credentials ahead of Nasdaq listing

Argo Blockchain continued to demonstrate its credentials to investors ahead of the Argo Blockchain Nasdaq listing as it revealed a positive monthly update.

For the month of August, the cryptocurrency mining business (LSE: ARB) revealed that it had mined 206 Bitcoin Equivalent (BTC) during the month, resulting in a total of 1,314 BTC mined so far this year.

Due to a variety of factors including the resurgence of cryptocurrency prices, this resulted in revenue for August of £6.83m compared to revenue of £5.6m during the last month. This comes despite mining 19 less BTC during August.

Argo’s mining margin also improved to 86% compared to 83% during the previous month as it revealed it now holds a total of 1659 BTC equivalent.

And as part of its asset management strategy, it took the opportunity to sell 61 of its BTC to generate proceeds of over £2.14m – sold at an average price of $48,800.

Argo Blockchain CEO Peter Wall added:

“I am pleased that we have been able to deliver these results at an improved margin this month and continue to deliver value to our shareholders. “

The Argo Blockchain share price remained relatively unchanged during the day following the August update.

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