Argo Blockchain PLC, a key player in the global cryptocurrency mining sector, has released its operational update for May 2024. In a month marked by notable shifts in Bitcoin mining metrics and company shares, Argo remains at the forefront of the industry.

During May, Argo mined a total of 45 Bitcoin or Bitcoin Equivalents (BTC), averaging 1.5 BTC per day. This figure represents a 55% decrease from the previous month, primarily attributed to the reduced hashprice following the Bitcoin halving.

Despite the decline in mining output, Argo achieved mining revenue of $2.9 million for May 2024, maintaining a robust mining margin of approximately 30%. The company's strategic focus on optimizing power prices and mining fleet efficiency has contributed to this resilient performance.

Additionally, Argo issued 626,883 new ordinary shares under its 2022 Equity Incentive Plan, further solidifying its position in the market. These shares, valued at £0.001 each, are set to be admitted to the Official List and traded on the Main Market of the London Stock Exchange.

With these developments, Argo's share capital as of May 31, 2024, stands at 578,397,673 ordinary shares, all with equal voting rights. This milestone underscores Argo's commitment to transparency and shareholder engagement.

Argo Blockchain PLC continues to lead the way in sustainable cryptocurrency mining, with operations in Quebec and Texas powered predominantly by renewable energy sources. As the industry evolves, Argo remains dedicated to driving innovation and delivering value to its shareholders and stakeholders alike.

For more information about Argo Blockchain PLC and its latest updates, please visit their official website.