Cryptocurrency mining company Argo Blockchain also sold a large amount of bitcoin in the past month.
According to the statement made by Argo Blockchain, the company was launched in June. an average of $24,500 over unit price 637 bitcoins sold it.
Many mining companies sold large amounts of bitcoin with the start of the bear market. Among them Bitfarms, Core Scientific, Riot There are names like
Argo Blockchain both uses its revenue from these bitcoins. cover company costs as well as Debt from Galaxy Digital used to pay. Bitfarms also sold 3,000 bitcoins to pay off the debt it received from Galaxy Digital.
As it stands on Argo’s balance sheet about $22 million value assets. According to the company’s statement, this will keep the company going even if the bitcoin price drops. enough to get rid of financial difficulties some amount.
The CEO of the company, Peter Wall, in his statements on the subject, “We believe the company is in a position to face current market conditions and start operating more efficiently.” said.
Argo Blockchain, during the month of June compared to the previous with an increase of 44 percent. in total 179 bitcoins produced. As of June 30, the company 210 assets equivalent to bitcoin in total, including thousand 953 He has one bitcoin.