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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 Bitcoins mined during the year also increased 85% to 2,465 during the year, he says 'we're excited about where we are and where we're going'.

Post-period, Wall explains how all of its mining machines, including those installed in January and February 2021, have achieved over 100% return on investment.

Quick facts: Argo Blockchain PLC

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Price: 127.4 GBX

Market Cap: £486.45 m

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Argo Blockchain reports 180% revenue increase in first half of the year

Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, FRA:0XP) (LON:ARB) (OTCQX:ARBKF) CEO Peter Wall tells Proactive long-term profitability and sustainability is paramount for the group, as it reports a profit surge in its first half as a boom in Bitcoin prices and an expansion of its crypto mining...

on 08/09/2021

2 min read