Argo mined more bitcoins, increased revenue — despite network difficulty

Throughout the month of February, both the daily quantity of bitcoin mined by Argo Blockchain and the income generated by the mining firm grew.

The dual-listed blockchain technology business revealed in a statement that it mined 162 bitcoins or equivalents during the month of February. This equates to 5.7 bitcoins per day, which is a 7% rise over the daily average for the month of January.

Argo’s mining income totaled to $3.76 million in February, which is an increase over January’s figure of $3.42 million when daily foreign exchange rates and cryptocurrency prices are taken into consideration.

In its announcement, Argo claims that it has been able to witness these improvements despite a monthly increase in Bitcoin’s average network difficulty that has been in the double digits.

On February 28th, the corporation had a total of 101 bitcoins or equivalents in its possession, and its total hash rate capability remained the same as 2.5 EH/s.