The UK's largest crypto miner has achieved the highest mining yield since the halving, and its BTC holdings continue to increase

With the recent rise in Bitcoin prices, the market has swept away the depressed atmosphere of the epidemic and halving at the beginning of the year. ArgoBlockchain, the largest listed crypto miner in the UK, recently pointed out in a report that the average monthly mining profit margin in November was 57%, compared with 40% in October. It has basically achieved the highest mining yield since the halving. It is worth mentioning that a crypto analyst previously tweeted that ArgoBlockchain increased its Bitcoin holdings by 30% in November. As of November 30, it held 178 Bitcoins, up from 137 Bitcoins on October 31.

The detailed report states that the company has mined a total of 2,369 BTC so far this year. As of November 30, the company held 178 BTC, worth nearly $3.5 million, up from 137 BTC on October 31, and the increase is ongoing. The company's mining machines have also increased from 5,000 in the first half of 2019 to 16,000. It is reported that the company's revenue in October was 1.2 million pounds, up from 1.1 million pounds in September, while its average monthly mining profit margin increased from 37% to 40%.

Argo Blockchain CEO Peter Wall said, “At Argo, we continue to prioritize efficiency in our mining operations, which enabled us to increase revenue by 23% this month and achieve our highest mining profit margins since the halving earlier this year.” In addition, Argo’s stock price is around $11, up 147% in the past two months.

However, despite the impact of the epidemic and halving, ArgoBlockchain mined a total of 1,669 bitcoins in the first six months of 2020, an increase of 545% from the first half of 2019 (306). In the six months ending June 30, the company's revenue reached 11.2 million pounds (14.48 million U.S. dollars), an increase of 280% from the first half of 2019 (2.93 million pounds, about 3.79 million U.S. dollars). Its performance is still quite impressive, which also confirms that miners continue to be optimistic about the market. In addition, the company added that it has worked closely with Bitmain to find a solution for its underperforming T17 Antminer and has agreed to eliminate some mining machines.

Peter Wall, CEO of Argo Blockchain, noted that November was a "very exciting" month for miners due to Bitcoin's historic rebound. Indeed, Bitcoin's rise continues to attract the attention of high-net-worth individuals. The world-renowned historian and Laurence A. Tisch Professor of History at Harvard University also pointed out that Bitcoin still has a lot of room to rise as people regard Bitcoin as a new asset form and occupy an important position in a diversified investment portfolio.

It is worth mentioning that as the price of Bitcoin rises, Bitcoin mining machines are also in short supply. Samson Mow, chief strategy officer of Blockstream, tweeted on November 28 that there is currently a shortage of Bitcoin mining machines. Mining machine manufacturers have difficulty obtaining new chips, and the delivery of mining machines will be postponed to the third or fourth quarter of 2021. (Part of the information in this article is compiled from u.today)