Argo Blockchain Reports Steady Bitcoin Mining Output with $2.2 Million Revenue in September 2024

On October 5, COINOTAG disseminated the latest operational insights from Argo Blockchain, a prominent player in the **Bitcoin mining** sector. The company reported that it successfully mined **37 bitcoins** throughout September 2024, maintaining the same output as the previous month. However, the company’s **mining revenue** experienced a decline, totaling **$2.2 million** in September compared to **$2.3 million** in August. Notably, Argo’s **mining profit margin** for the third quarter fell below **10%**, a downturn attributed to reduced hash prices and the rise in electricity costs. The figures reflect a challenging market environment where operational costs are surging. As of the end of September 2024, Argo Blockchain reported holding assets equivalent to **4 BTC**, marking a strategic positioning in the fluctuating landscape of cryptocurrency. These developments underscore the ongoing volatility within the **crypto mining** industry, impacting profitability and operational outlooks.