Argo Blockchain mines ~25.8% lower bitcoins in December

Argo Blockchain ( NASDAQ: ARBK ) mined 147 Bitcoin or Bitcoin Equivalent (together, BTC) in December 2022 compared to 198 BTC in November 2022, primarily due to the curtailment of mining operations at the Helios facility in Texas, in response to the widespread winter storm in late December. Based on daily foreign exchange rates and crypto rates, mining revenue stood at £2.07M (or $2.49M) compared to £2.94M (or $3.46M in prior month). The company generated this income at a bitcoin and bitcoin equivalent mining margin of 48% compared to 29% in prior month. As of December end, Argo owned 141 Bitcoin, of which 116 were BTC Equivalents. Last month, the company has agreed to sell its Helios mining facility in Texas and its related operations to Canada-listed investment management company Galaxy Digital for $65M. As of 31 December 2022, pro forma for the transactions, the Company's total debt was approximately $79 million (£65 million), and its bank balance was approximately $20 million (£16 million). Shares are up 1.58% after-hours .