Argo Blockchain plc provided the following operational update for July 2023. During the month of July, the Company mined 129 Bitcoin or Bitcoin Equivalents, or 4.2 BTC per day. This is a decrease of 11% from the 4.6 BTC per day mined in the previous month.
The decrease was driven primarily by greater downtime at Helios from weather-related curtailment and onsite construction. Additionally, the Helios operations participated in economic curtailment, which reduces Bitcoin production but generates additional cash proceeds. Mining revenue in July amounted to $3.87 million, similar to revenue generated in the prior month (June 2023: $3.84 million).
As of 31 July 2023, the Company held 46 BTC.