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Argo Blockchain's Bitcoin Holding Passes 1,000
May revenue fell to $7.8 million, 16% less than the month before.
Argo Blockchain said it mined 166 bitcoin last month, taking its total beyond 1,000.
STORY CONTINUES BELOW
- The May figure compares with 163 in April, the London Stock Exchange-listed company said Thursday.
- Even so, mining revenue fell to $7.8 million, 16% less than the month before, because of the sharp decline in bitcoin's value.
- The firm also announced its execution of a Grid Interconnection Agreement with the Wind Energy Transmission of Texas (WETT) and American Electric Power (AEP) for 200 MW at Argo's mining facility in the Lone Star State.
- The facility is expected to connect to the Electric Reliability Council of Texas (ERCOT), an organization that manages the state's electric grid, in first-quarter 2022.
Read more: Bitcoin Miner Argo Blockchain Purchases Hydro-Powered Data Centers in Canada
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
