Argo Blockchain mines 25% less Bitcoin due to winter storm at Helios
Argo Blockchain mined less Bitcoin than expected in December due to the firm curtailing mining operations at Helios amid extreme weather conditions. Publicly-listed Bitcoin (BTC) mining company Argo Blockchain saw a significant drop in mining activity in December due to a winter storm in Texas. On Jan. 11, Argo released its first operational update since selling its flagship Mining facility Helios to Mike Novogratz’s Galaxy Digital. The company said it mined 147 Bitcoin or BTC equivalents in December, compared to 198 BTC in November 2022. As of Dec. 31, Argo held 141 BTC, with its December Mining revenue amounting to $2.49 million, the firm said. Argo’s total debt was approximately $79 million, and its bank balance was about $20 million. According to the announcement, the decrease in the amount of mined BTC was mainly due to Argo curtailing mining operations at Helios in response to a major winter storm in Texas. Cast your vote now! In late December, the United States Energy Departm...