Bitcoin Miner Argo Blockchain Bought 172.5 BTC in January

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.