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CleanSpark Inc. (Nasdaq: CLSK) has postponed its Q3 2024 financial results webcast initially scheduled for August 8, 2024, citing plans to announce a new date soon. (Read More)
Robinhood Markets, Inc. reported Q2 2024 financial results, showcasing record revenues, increased net deposits, and significant subscriber growth. (Read More)
Canaan Inc. (NASDAQ: CAN) will report its Q2 2024 financial results on August 15, 2024, before the U.S. market opens, according to PRNewswire. (Read More)
NVIDIA announces record Q2 fiscal 2025 revenue, driven by strong demand in data centers and significant growth in earnings per share. (Read More)
BitFuFu expands its mining capacity by over 60% despite a dramatic rise in Bitcoin mining costs post-halving.
Marathon Digital's Q2 2024 revenue increased by 78% to $145.1M, but the company reported a net loss of $199.7M due to fair market value adjustments. (Read More)
Canaan Inc. (NASDAQ: CAN) reports robust Q2 2024 financial results with significant revenue growth and improved profitability. (Read More)
CleanSpark (CLSK) announces Q3 FY2024 financials with a 129% revenue increase and a $50 million credit line from Coinbase. (Read More)
CleanSpark Inc. (Nasdaq: CLSK) has rescheduled its Q3 2024 financial results webcast to August 9, 2024, at 4:30 PM ET / 1:30 PM PT, according to investors.cleanspark.com. (Read More)
CleanSpark Inc. (CLSK) will discuss its fiscal third quarter 2024 financial results via a live webcast on August 8, 2024. (Read More)
NVIDIA schedules a conference call for August 28 to discuss its Q2 2025 financial results, with CFO commentary available ahead of the call. (Read More)
Riot Platforms announced Q2 2024 results with $70M in revenue and a hash rate of 22 EH/s, despite the Bitcoin halving event. (Read More)
Bitfarms Ltd. announces its Q2 2024 financial results and schedules a conference call for August 8, 2024, at 8:00 am EST. (Read More)
Marathon Digital Holdings (MARA) will host a webcast and conference call on August 1, 2024, to discuss its Q2 financial results. Shareholders can submit questions in advance. (Read More)
Oracle reveals strong financial performance in fiscal 2024, driven by cloud services and AI demand. (Read More)
Bitfarms Ltd. will release its Q1 2025 financial results on May 14, 2025, followed by a management-hosted conference call. The event will detail the company's Bitcoin mining and energy initiatives. (Read More)
ArgoBlockchain, a publicly-listed cryptocurrency mining company, announced itsunaudited financial results for the first quarter of 2024, which showed animprovement compared to the same period last year. The company reported arevenue of $16.8 million, a 4% increase from the previous quarter, and athreefold reduction in net loss to $3.2 million. Compared to last year, revenues grew by almost 50%.
Argo Blockchain Reports BetterQ1 2024 Performance, Reduces Debt
The companysuccessfully increased its mining margin to $6.4 million from the $5.2 millionreported the previous year, resulting in a gross profit of $1.9 millioncompared to a loss in Q1 2023.
Argo mineda total of 319 Bitcoin (BTC) during the quarter, averaging 3.5 BTC per day,with the adjusted EBITDA for the quarter standing at $3.8 million.
However,the company did not achieve an operating profit or net income, althoughreported losses were significantly reduced. In the first three months of theprevious year, the firm incurred losses of over $9.1 million, but in 2024, thiswas reduced to nearly $3.2 million, a threefold decrease.
Argo Blockchain mines 319 BTC in Q1UK-based cryptocurrency mining company Argo Blockchain announced that it mined 319 BTC in the first quarter. The company reported Q1 revenue of $16.8 million with $12.4 million in cash.
CoinNess Global (@CoinnessGL) May 23, 2024Despite the ongoing market volatility, Argo Blockchain also managed to reduce its debt by $12.4 million during the quarter, representing a 19% reduction from the balance at the end of 2023.
We exitedthe Bitcoin halving with cash of over $12 million, Q1 debt reduction of over$12 million and streamlined Quebec operations resulting from the sale ofMirabel, commented Thomas Chippas, the Chief Executive Officer of Argo, said. Weare enthusiastic about Argo's future growth and development and are dedicatedto delivering value to our shareholders."
Argo Reduced Losses in2023
Last month,the company reported its full-year results for 2023, revealing a year ofstrategic adjustments amid industry challenges. Although it achieved a modestgross profit, the net income remained negative for another year. However, thecompany was able to reduce its losses by 85%.
During thesame period, it announced the sale of its data center in Mirabel, Canada.
In March, the firm entered into an agreement to sell its Mirabel, Quebec data center for $6.1 million. It also released its monthly mining output figures, which indicated a 21% month-on-month decrease in daily Bitcoin production. The company's London branch finalized this transaction a few weeks later whilesimultaneously issuing over 460,000 new ordinary shares.
Argo is adual-listed company with shares available on the London Stock Exchange (LSE)under the ticker ARB and NASDAQ under the ticker ARBK.
This article was written by Damian Chmiel at www.financemagnates.com.
Canaan Inc. reported a 135.9% year-over-year increase in revenues for Q1 2025, driven by strong mining performance despite market volatility. (Read More)
CoreWeave, Inc. reports a strong Q1 2025, driven by demand for its AI platform, strategic partnerships, and significant revenue growth, despite challenges in operating income. (Read More)
Canaan Inc. (NASDAQ: CAN) will report its Q1 2025 financial results on May 20, 2025, with a conference call scheduled for the same day. (Read More)
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