Argo Blockchain shares rapidly soar to new highs as revenues and margin grow

The Argo Blockchain share price (LON: ARB) has continued its rapid escalation to new highs after a sound operational update covering the month of December.

The respective update released yesterday revealed that the cryptocurrency miner saw mining revenue for December increase to £1.63m during December (November 2020: £1.48m) – supported by an increasing mining margin of around 60%.

During the year-to-date, it mined a total of 2,465 Bitcoin Equivalent – inclusive of Decembers mining activity.

Commenting on this was Peter Wall, CEO of Argo who added:

“I am delighted that Argo has delivered strong mining revenue for December and at such a healthy margin. The Bitcoin market has entered 2021 on a roll, and we are very optimistic this year will continue to see an increasing mainstream adoption of cryptocurrency. We look to the future with much optimism.”

Following a prominent rise yesterday, the ARB share price has continued its meteoric rise by adding over 40 percent today at a current price of nearly 80p.

With growth in mining revenues and margins supported by increasing adoption of cryptocurrency, it is clear to see why investors have been flocking to ARB.

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