Argo Blockchain Unveils Record Revenue Month of 2023, and Departure of COO

Argo Blockchain plc, a global leader in cryptocurrency mining, has released its operational update for the last month 2023, indicating the highest revenue month of 2023, and the exit of its Chief Operating Officer Seif El-Bakly.

The company produced mining revenue of $6.6 million in December, 25 percent higher over the prior month's $5.3 million. It mined 155 Bitcoin in the month, increasing 4 percent sequentially in daily Bitcoin production.

Bitcoin held by the firm on its balance sheet at the month-end stood at 9, with other digital assets worth the equivalent of 18 Bitcoin. During the fourth quarter, the company produced 4.8 Bitcoin per day, rising 20 percent from the previous quarter.

Additionally, Seif El-Bakly parted ways with Argo as COO after almost two years, effective 5 January 2024. Chief Strategy Officer Sebastien Chalus will continue to oversee all operations going forward.

"I am delighted to close out 2023 with our strong performance both in December and in the full fourth quarter," stated Thomas Chippas​, who has become new Chief Executive Officer of Argo Blockchain since November.