Nasdaq-listed sustainable crypto mining and blockchain firm Argo Blockchain recently revealed it generated record revenues of $26 million (£19.3 million) in its Q3 financial report. Additionally, Argo Blockchain reported a net income of $17.3 million. EBITDA for the latest quarter came in at $28.2 million. During Q3 2021, Argo Blockchain mined a total of 597 Bitcoin and BTC equivalents. The company also provided an update on its Texas mining facility.
The crypto mining and blockchain firm expanded its mining capacity.
The crypto mining and blockchain firm Argo Blockchain expanded its mining capacity during the nine months ended on 30 September 2021. “From breaking ground on our sustainable cryptocurrency mining facility in Dickens County, Texas to our public listing on Nasdaq in the United States, this quarter has been pivotal as Argo continues to scale,” stated Peter Wall, Chief Executive Officer of Argo Blockchain. “I am proud of the growth we experienced during the quarter and believe Argo is strategically positioned to continue this momentum as we build out our Helios facility in Texas,” he added.
The BTC mining industry saw record growth in revenues during the first three quarters of 2021.
The bitcoin mining industry saw record growth in revenues during the first three quarters of 2021, mainly due to a rapid jump in its price. Despite different challenges, including China’s crypto mining ban, the mining sector saw sustainable growth. Argo’s Bitcoin holdings also increased in the latest quarter. The Nasdaq-listed company is now holding 1,836 BTC. “Argo has been able to achieve these results while maintaining a gross margin of 120% and an industry-leading mining margin of 85% with an average direct cost per BTC mined of $6,293 (£4,673),” Argo added in the latest press release.Nasdaq-listed sustainable crypto mining and blockchain firm Argo Blockchain recently published its financial results for the third quarter of 2021.