Argo Blockchain daily bitcoin production down by 17% M/M in June

Argo Blockchain ( NASDAQ: ARBK ) mined 139 Bitcoin ( BTC-USD ) or Bitcoin Equivalents or 4.6 BTC per day in the month of June, down 17% compared to the 5.6 BTC per day produced in May 2023. The decrease in BTC production is primarily driven by a higher average network difficulty in June compared to the prior month, as well as increased curtailment of mining operations at the Helios facility in Texas. Mining revenue of $3.84M declined from $4.75M in May, a decrease of 19%. The company's total hashrate capacity continues to be 2.5 exahashes per second, and it held 44 bitcoin ( BTC-USD ) or bitcoin equivalents as of June.30. At its Quebec facilities, the company has started bringing in and setting up additional BlockMiner equipment. When fully operational, these new computers should boost the company's overall hashrate capacity by 12%, or to about 2.8 EH/s.