Bitcoin mining yields have increased dramatically, industry conditions have improved

bitcoin mining

The British company Argo Blockchain has published a new financial report, according to which the efficiency of extraction of digital money increased by 101% compared with May.

Revenues from the mining company Argo Blockchain increased by 24% compared to the previous period, which ended June 3. The British miner published a new financial report, in which he spoke about a significant increase in the efficiency of mining digital money in the summer of 2019.

“We expect to receive 161 BTC or 1.38 million pounds in cryptocurrency from operations in June based on a bitcoin price of $ 10,817.16 as of June 30, 2019. This is about 101% higher in May and corresponds to a mining margin of about 81%, ” reported Argo Blockchain.

According to the head of the company, Mike Edwards, the situation in the industry has improved significantly in recent months. He added that in the third quarter, further growth and increase in mining efficiency is expected.

Earlier, Northern Bitcoin signed an agreement to purchase 5,000 Bitcoin miners from Bitmain and Canaan Creative. At the same time, the hash rate of the first cryptocurrency updated the historical maximum, as well as the complexity of the extraction of the main digital coin.

About Shawn Morrison 266 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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