Publicly traded bitcoin mining company Argo Blockchain (ARB) has disclosed buying 172.5 BTC in January as part of its asset management strategy.
- The coins were purchased in the second half of January, the company said Wednesday. While an average purchase price was not disclosed, bitcoin mostly traded between $30,000 and $36,000 during that time.
- With bitcoin trading near $36,500, the new holdings have a current value of over $6 million.
- The London-based company also said it mined 93 BTC “or bitcoin equivalent” in January, slightly less than the 96 BTC (or equivalent) in December 2020.
- Per the release, Argo held 501 BTC or equivalents at the end of January.
- CEO Peter Wall said January was the “best month in the company’s history in both mining revenue and profits.”
- Argo’s Q4 2020 earnings are project to be released in late April.
- Shares of Argo have soared over 1,350% in the past year. They are currently trading around $1.29, slightingly down from their peak in early January.
See also: Bitcoin Miners Saw Revenue Rise 62% in January From December
Correction (Feb. 3, 15:20 UTC): Argo shares price converted to dollars corrected.