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120% revenue and 5 times EBITDA growth delivers first annual profit Argo Blockchain Plc, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce its audited results for the year ended 31 December 2020. Financial Revenue increased by 120% to £19.0m (2019: £8.6m) Total number of Bitcoins mined rose from 1,330 in 2019 to 2,465 in 2020, an 85% increase in annual production Mining margin 41% (2019: 60%) despite challenging market conditions, including Bitcoin halving in May 2020 and the global impact of the COVID-19 pandemic Administrative expenses were reduced by £1.1m to �...

Argo Blockchain swings into profit as it crosses major inflexion point in 2020 The crypto miner reported a 120% jump in revenues during the year, adding that all of its mining machines have now achieved over 100% return on investment Argo Blockchain PLC (LON:ARB) swung into profit in 2020 as the cryptocurrency miner said it had crossed “a major inflexion point” during the year amid a surge in revenues. In its results for the year to December 31, 2020, the company reported a net profit of £1.7mln compared to a £0.7mln loss in 2019 as revenues jumped 120% to £19mln. The number of Bitcoin...

Argo Blockchain report 'best in class' results with focus on 'growing intelligently' in 2021 Argo Blockchain PLC's (LON:ARB) Peter Wall catches up with Proactive London's Katie Pilbeam after swinging into profit in 2020 with a surge in revenues. In its results for the year to December 31, 2020, the company reported a net profit of £1.7mln compared to a £0.7mln loss in 2019 as revenues jumped 120% to £19mln. Speaking to Pilbeam, Wall says 'the goals for us were to be leaner and smarter and we've now done both of those things and put ourselves in a great place for 2021'. The number of Bitcoi...

In a banner year for cryptocurrencies (so far), not all of the news is going to be good. As Bitcoin and other digital coins have soared in value since January, the toll they are taking on planet Earth has garnered far more attention. High-profile Bitcoin supporters have come out in force to defend their favourite cryptocurrency.  A report published last week – sponsored by Tesla Inc’s Elon Musk, Square Inc’s Jack Dorsey, and ARK’s Cathie Wood, one of Wall Street’s hottest investment pros – depicts Bitcoin as an “ideal” part of renewable energy projects involving solar, wind a...

News Legislators in the United Kingdom have asked for greater regulatory powers to combat the rise of financial “greenwashing” — a deceptive practice where a company overstates or fabricates the extent of its green energy usage. A report by the House of Commons cross-party Treasury Committee urges the U.K. government to sharpen its definition of environmentally conscious investments and to consult on the prospect of attaching “green labels” to financial products. The report notes that “green” claims attached to financial investments are often exaggerated, and can fail to align...