Always more BTC: Argo increases its production of bitcoins in the middle of the crypto winter

Bitcoin infusion – The year 2022 ended ended in turmoil for Argo, one of the world’s leading Bitcoin mining companies, then on the verge of bankruptcy. As 2023 begins in earnest, the company has unveiled its operational report for the month of February. Good news: the numbers are good.

Increased BTC production for Argo

It is therefore in a communicated as of March 7, 2023 that the company reports its numbers increasing. Indeed, while he was mining 5.4 BTC per day in January 2023, the bitcoin production of the company has increased by 7% in February, reaching 5.7 BTC per day. 162 BTC were thus obtained in February. THE Argo mining revenue over this period are therefore estimated at $3.76 millionagainst 3.43 million dollars in January.

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BTC to warm up during the crypto winter

This slight increase is good news for the company which has to face many obstacles. Fall in the price of bitcoin (BTC), increase in the difficulty of mining by 10%, cost of energy are then all hurdles to be apprehended in the race for mining BTC.

While Argo’s CEO resigned recentlythe new interim CEO of Argo Seif El-Bakly congratulated himself on these positive results:

“I am proud of the team for increasing our average daily Bitcoin production despite the increase in average network difficulty in February compared to January. This is a testament to the hard work of our technology and operations teams. We continue to focus on strengthening our internal business processes and striving for operational excellence. »

The bitcoin miner is not out of the woods yet. His fate on the NASDAQ has had many ups and downsdespite narrowly averting bankruptcy thanks to a $100 million boost.

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