Argo blockchain plc announces 2022 full year results

London, uk / accesswire / april 28, 2023 / argo blockchain plc, a global leader in cryptocurrency mining (lse:arb)(nasdaq:arbk), is pleased to announce its audited results for the year ended 31 december 2022. operating highlights · increased hashrate capacity by 55% from 1.6 eh/s at the end of 2021 to 2.5 eh/s at the end of 2022 · energized the helios facility in dickens county, texas and commenced mining operations on 5 may 2022 · executed an agreement with epic blockchain technologies ("epic"), as amended, to purchase blockminer machines for use with intel's blockscale asic chip (2,870 machines expected to be deployed in q3 2023) · completed a swap agreement with core scientific ("core") for s19j pro machines representing approximately 970 ph/s, which ended the group's hosting agreement with core in place of self-mining operations at helios · released the group's 2021 sustainability report and maintained climate positive status by producing no scope 1 emissions and offsetting all scope 2 and scope 3 emissions through renewable energy credits and verifiable emissions reductions financial highlights · total number of bitcoin or bitcoin equivalent ("btc") mined during 2022 was 2,156, a 5% increase compared to the btc mined in 2021, despite an increase in global hashrate and network difficulty · revenues of £47.4 million ($58.6 million), a decrease of 36% from 2021, driven primarily by a significant decrease in bitcoin price and an increase in the global hashrate and associated network difficulty level · adjusted ebitda of £1.0 million ($1.2 million), down from adjusted ebitda of £55.0 million ($74.2 million) in 2021 · mining margin of 54%, down from 84% in 2021.
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