Argo

Bitcoin

<a href="https://ultramining.com/news/en/argo-blockchains-struggles-continue-with-a-17-drop-in-bitcoin-production/" rel="noopener noreferrer nofollow">Argo Blockchain</a> reported a 34% surge in Bitcoin mining in September 2023. The <a href="https://ultramining.com/news/en/terawulf-soars-to-record-revenue-with-330-btc-mined-in-july-2023/" rel="noopener noreferrer nofollow">company mined</a> 136 Bitcoins last month, marking a significant increase from August. Their mining revenue also jumped, showing a 23% rise to reach $3.59 million, according to <a href="https://www.financemagnates.com/cryptocurrency/argo-blockchain-reports-34-increase-in-bitcoin-mining-for-september-2023/" rel="noopener noreferrer nofollow">financemagnates</a>.
The escalation in Bitcoin mining resulted from a decrease in power expenses. Argo managed to save on <a href="https://ultramining.com/news/en/crypto-mining-with-flare-gas-a-green-solution-or-environmental-setback/" rel="noopener noreferrer nofollow">electricity</a> costs by utilizing power credits from economic curtailment. Specifically, these credits stemmed from fewer curtailment hours at Argo's Helios facility. However, an increased network difficulty in September did pose a challenge. Regardless, Argo's determination prevailed, leading to an enhanced mining revenue for the month.
By the end of September, <a href="https://ultramining.com/news/en/argo-blockchains-struggles-continue-with-a-17-drop-in-bitcoin-production/" rel="noopener noreferrer nofollow">Argo Blockchain</a>'s reserves comprised 32 BTC. This decreased from the 49 BTC they held in August. The decline is attributed to the revaluation of the company's non-Bitcoin digital assets.
On the infrastructure front, Argo integrated its BlockMiner machines during September. This added approximately 0.3 EH/s to their <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> capacity at their Quebec facilities. With this, Argo's total <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> capacity now impressively stands at about 2.8 EH/s.
While Argo's progress is commendable, a year-on-year comparison paints a different picture. September 2022's report highlighted the company mining 215 BTC, a figure 79 BTC higher than this year.&nbsp;

Argo Blockchain Boosts Bitcoin Mining by 34% in September 2023

Ultramining_Eng

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