Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Coinpedia Fintech News on April 28, 2023, 11:45:10 AM
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London-based cryptocurrency miner, Argo Blockchain (ARB), has reported a full-year loss in 2022 due to the fall in bitcoin prices and the increased difficulty of mining, which raised costs.
In a statement, the U.K.'s only listed crypto miner stated a net loss of 194.2 million British pounds ($240 million), which is a significant decline from the previous year's net income of 30.8 million pounds.
The company's financial woes were attributed to the decline in bitcoin prices, which fell more than 60% last year.