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Argo Blockchain said on Wednesday that it bought 172.5 bitcoins in the second half of January as part of its wealth management strategy.

● In one trading updateThe London Stock Exchange-listed bitcoin miner also reported strong revenue growth during the month of review, rising 52% to £ 2.48 million ($ 3.37 million) from £ 1.63 million ($ 2.21 million). ) in December.

● Argo has not disclosed how much it spent to purchase the reserve BTC, but bitcoin prices hovered between $ 30,000 and $ 38,500 in the last half of January. The company said it now has the equivalent of 501 in bitcoin in late January.

● In the past month, Argo Blockchain mined 93 bitcoins, instead of 96 BTC in December. Mining output at the London company appears to have declined gradually in recent months. In November, Argo pulled out 115 BTC, falling from 126 BTC mined in October.

● Peter Wall, CEO of Argo, said: “I am delighted that Argo has delivered our best month in the company’s history, both in terms of mining revenues and profits. The year has started very strongly. “

● Argo operates 16,000 bitcoin mining platforms across North America, with a capacity of 645 petahash per second (PH / s) in bitcoin mining hashrate. The company also mines privacy coin zcash (ZEC) and claims to exploit 5% of the global ZEC hashpower total. Argo’s total mining capacity is currently 787 petahash (SHA-256), in addition to 280 Megasols of equihash mining capacity.

● Shares of Argo Blockchain are up 0.64% to £ 95 ($ 129) during afternoon trading in London on Thursday. The stock is up more than 1,100% in the past three months.

What do you think of Argo’s bitcoin purchase? Share your thoughts in the comments below.

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