Argo Blockchain Q1 financial report: Revenue of $11 million, a 15% increase quarter-over-quarter, with a net loss of $8.7 million

2023-06-06 18:46:26

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ChainCatcher news, cryptocurrency mining company Argo Blockchain released its Q1 2023 financial report, with revenue of $11 million, a 15% increase quarter-over-quarter, and a net loss of $8.7 million. As of the end of Q1, the company's balance sheet had $14.2 million in cash and 85 bitcoins or bitcoin equivalents. The total amount of bitcoins mined by Argo Blockchain in Q1 was 491.

According to a previous report by ChainCatcher, Argo Blockchain had a net loss of $240 million in 2022, its CEO Peter Wall resigned, and the board appointed Chief Operating Officer Seif El-Bakly as interim CEO. (Source link)

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