Argo Blockchain Shares Fall After December's Lower Bitcoin Mining

By Michael Susin

Argo Blockchain PLC shares fell on Wednesday after the company said it has mined fewer bitcoins in December due to the impact of the U.S. winter storm in its operations.

Shares at 0909 GMT were down 1 pence, or 9.8%, at 9.25 pence.

The London-listed cryptocurrency-mining company said it mined 147 bitcoins or equivalents in December, down from 198 in November.

As of Dec. 31, it held 141 bitcoins, of which 116 were equivalents. Based on daily foreign exchange rates and cryptocurrency prices over the month, mining revenue in December amounted to $2.9 million, down from $3.46 million in November.

However, gross loss narrowed to $847,000 from $1.7 million, it said.

Write to Michael Susin at [e-mail]

(END) Dow Jones Newswires

01-11-23 0434ET