Argo Blockchain mined 337.5 BTC in February, mining income increased by 56% compared with January

According to Advfn report, listed mining company Argo Blockchain updated its mining business in February: the company mined 337.5 bitcoins in February, an increase of 37% compared to January (247). Based on the daily foreign exchange rate and cryptocurrency prices for the month, the company's mining revenue was 2.54 million pounds, an increase of 56% from January (1.63 million pounds). The company's mining profit margin is 50%. The mining conditions and algorithm difficulty in February were basically the same as last month. The company also announced that it has achieved in advance its goal of producing 17,000 machines by the end of the first quarter of 2020. Since the beginning of this year, the company has installed 10,000 Bitmain Antminer T17 mining machines with a total investment of 7.44 million pounds (about 9.51 million US dollars), bringing Argo's mining capacity to 665 PH. The company also ordered 1,000 Antminer S17 + miners for a total cost of 1.17 million pounds (about $ 1.5 million). The investment is funded entirely by internally generated cash flows and is part of the company's maintenance of capital expenditures. The new miner is expected to be delivered and installed at the end of April, which will allow Argo's total BTC mining capacity to reach around 730 PH, an increase of about 10%. In addition, the company's mining operations in North America were not affected by the coronavirus epidemic.