Argo Blockchain revenue fell on 31% Due to Bitcoin's price-Bits Media

ARGO Blockchain mining company provided shareholders with an unauthorized report on the results of January-June 2023 of the year.

According to the report, Argo Blockchain reduced operating and overhead costs 21%. As a result, a adjusted Donalogical profit (Ebitda), not directly related to the mining of crypto assets, It was more $2,3 million in the first half of the year was mined 947 Vts, What's on 1% more, than for the first half of 2022. The company was able to maintain the level of extraction of digital assets, Despite the increase in the global hash. 30 june 2022 by 30 june 2023 years on 78%.

At the same time, the revenue of the first half of the year amounted to only $ 24 million, What's on 31% less, than for the past, the first half of the year. In the comments to the preliminary report, Argo reports, that a decrease in revenue is due to a general decrease in the market price of bitcoins, an increase in the global hash and related to these difficulties of digital asset mining.

The clean loss of Argo Blockchain in six months has decreased more than doubled and $18,8 million compared to a pure loss in $39,6 Milln for the first half of the year 2022. From June to June, the company halved its debts, bringing the total amount of debt from $143 million to $75 million.

ARGO BLOCKCHINAIN OF OF RECOMMENT $9 million and 46 The government of Bulgaria demanded a report for the withdrawn cryptocurrency. At the beginning of the second half of the year, the company has already attracted $7,5 Million gross revenue by placing shares.

In March, lawyers of the GROSS LAW law office reported
On the beginning of preparation for the protection of the rights of investors of the ARGO Blockchain mining company, victims as a result, As the lawyers say, Deception, fraud and illegal business practice by the leadership of the company.