Argo Blockchain mined 48 units of the oldest cryptocurrency last month.
This result is significantly worse than a year ago, but slightly above June's output.
Bitcoin (BTC) miner
Argo Blockchain, publicly
traded on Wall Street and the London Stock Exchange (LSE), has presented today (Monday) its latest report on cryptocurrency
production for July. The result of 48 mined BTC is over 60% worse
than last year's figures but shows a slight improvement compared to recent
months.
Much Less Bitcoin for
Argo, but Comparable Revenue
In July,
Argo Blockchain mined 48 Bitcoins, which translated into a production of 1.5 BTC per
day. Compared to June, this result is 4 Bitcoins better but significantly
worse than last year. In July 2023, BTC production averaged 4.2 BTC per day,
totaling 129 tokens.
Despite
such a significant drop in the number of Bitcoins mined, which is partly due to
the increasing network difficulty and the April block reward halving, mining
revenues decreased much less. In July, they amounted to $3 million, compared to
$3.9 million reported in the same month last year. On a month-to-month basis,
however, they increased by $0.1 million.
“Mining
margin for July 2024 was in the mid-20% range, lower than June as a result of
the lower hash price realized in July compared to June. As of 31 July 2024, the
Company held 11 BTC equivalent,” Aego stated in its newest report.
In response
to the latest report, ARB shares on the LSE fell over 9% on Monday morning,
dropping to 9 pence and testing more than a month's lows. However, it's
important to note that the decline may also be attributed to Bitcoin's
deteriorating condition. After four days of steep losses, it dropped to just
$50,000. The last time Bitcoin's price was this low was in February.
New Institutional Investor
for Argo Blockchain
Argo
Blockchain recently revealed a private placement deal valued at £6.5 million
with an institutional investor. This agreement includes the issue of 57,800,000
ordinary shares priced at £0.1125 each on the LSE. It also provides the
investor with warrants to buy an additional 57,800,000 shares at the same
price.
The set
price for this placement is higher than Argo's average recent trading prices,
yet it still offers a 10% discount compared to the closing price on July 29.
H.C. Wainwright & Co. has been appointed as the sole placement agent for
this transaction.
Argo's
latest quarterly report highlighted a revenue increase to $16.8 million, up 4%
from the last quarter and showing an impressive 50% growth compared to the same
period last year. Additionally, the report noted a significant reduction in net
losses, which fell to $3.2 million, one-third of the previous quarter’s figure.
Bitcoin (BTC) miner
Argo Blockchain, publicly
traded on Wall Street and the London Stock Exchange (LSE), has presented today (Monday) its latest report on cryptocurrency
production for July. The result of 48 mined BTC is over 60% worse
than last year's figures but shows a slight improvement compared to recent
months.
Much Less Bitcoin for
Argo, but Comparable Revenue
In July,
Argo Blockchain mined 48 Bitcoins, which translated into a production of 1.5 BTC per
day. Compared to June, this result is 4 Bitcoins better but significantly
worse than last year. In July 2023, BTC production averaged 4.2 BTC per day,
totaling 129 tokens.
Despite
such a significant drop in the number of Bitcoins mined, which is partly due to
the increasing network difficulty and the April block reward halving, mining
revenues decreased much less. In July, they amounted to $3 million, compared to
$3.9 million reported in the same month last year. On a month-to-month basis,
however, they increased by $0.1 million.
“Mining
margin for July 2024 was in the mid-20% range, lower than June as a result of
the lower hash price realized in July compared to June. As of 31 July 2024, the
Company held 11 BTC equivalent,” Aego stated in its newest report.
In response
to the latest report, ARB shares on the LSE fell over 9% on Monday morning,
dropping to 9 pence and testing more than a month's lows. However, it's
important to note that the decline may also be attributed to Bitcoin's
deteriorating condition. After four days of steep losses, it dropped to just
$50,000. The last time Bitcoin's price was this low was in February.
New Institutional Investor
for Argo Blockchain
Argo
Blockchain recently revealed a private placement deal valued at £6.5 million
with an institutional investor. This agreement includes the issue of 57,800,000
ordinary shares priced at £0.1125 each on the LSE. It also provides the
investor with warrants to buy an additional 57,800,000 shares at the same
price.
The set
price for this placement is higher than Argo's average recent trading prices,
yet it still offers a 10% discount compared to the closing price on July 29.
H.C. Wainwright & Co. has been appointed as the sole placement agent for
this transaction.
Argo's
latest quarterly report highlighted a revenue increase to $16.8 million, up 4%
from the last quarter and showing an impressive 50% growth compared to the same
period last year. Additionally, the report noted a significant reduction in net
losses, which fell to $3.2 million, one-third of the previous quarter’s figure.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Celsius’ Ex-CEO Seeks Testimony of Former Top Staff in Criminal Trial
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
📣 Stay updated with the latest in finance and trading!
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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