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Argo Blockchain's Bitcoin Holding Passes 1,000

May revenue fell to $7.8 million, 16% less than the month before.

By Jamie Crawley
Updated Sep 14, 2021, 1:05 p.m. Published Jun 3, 2021, 2:20 p.m. 1 min read
Components used in bitcoin mining machines.
Components used in bitcoin mining machines.

Argo Blockchain said it mined 166 bitcoin last month, taking its total beyond 1,000.

  • The May figure compares with 163 in April, the London Stock Exchange-listed company said Thursday.
  • Even so, mining revenue fell to $7.8 million, 16% less than the month before, because of the sharp decline in bitcoin's value.
  • The firm also announced its execution of a Grid Interconnection Agreement with the Wind Energy Transmission of Texas (WETT) and American Electric Power (AEP) for 200 MW at Argo's mining facility in the Lone Star State.
  • The facility is expected to connect to the Electric Reliability Council of Texas (ERCOT), an organization that manages the state's electric grid, in first-quarter 2022.

Read more: Bitcoin Miner Argo Blockchain Purchases Hydro-Powered Data Centers in Canada

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