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London-listed crypto miner Argo Blockchain turns first profit after bitcoin’s wild ride.

London-listed Argo Blockchain (ARB.L), which is focused on large-scale cryptocurrency mining, swung to a profit in 2020 on strong revenue growth as bitcoin continues to rally. Argo’s net profit for 2020 was £1.7m ($2.4m), compared to a £0.7m net loss a year prior, as revenue increased 120% to £19m. It said the first quarter of 2021 was its most profitable to date, “driven by rise in Bitcoin prices and stable mining difficulty,” with 387 bitcoin mined and revenues of £13.4m. The company was founded in 2017 and went public on the London Stock Exchange in 2018. Peter Wall, CEO, said:…

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Publicly Traded Firms Launch New Mining Rigs, Less Hashrate Than Competitors

Two of the top mining manufacturers from China that recently had initial public offerings (IPO) released two new mining rigs. Canaan Inc. and Ebang Communications both have shares listed on the Nasdaq stock exchange, and the two firms just launched two ASIC mining devices with hashrates up to 63 terahash per second (TH/s). The two Chinese ASIC mining rig manufacturers Ebang and Canaan have recently released some new bitcoin mining devices. Canaan has launched the Avalonminer 1146 Pro (63TH/s), while Ebang has released the E12+ (50TH/s). Interestingly, both firms are listed on the American stock exchange Nasdaq, while the other…

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93% of Bitcoin’s Supply Profitable at $11K, ‘Realized Price’ Recovers from Black Thursday

Onchain data shows that bitcoin’s breakout above $11,000 puts 93% of the circulating supply in a state of profit. Additionally, seven-day metrics show that bitcoin’s “realized price” has recovered from the low that took place on March 12. The research and analysis firm Glassnode revealed that when the price of bitcoin (BTC) is over the $11,000 range, 93% of bitcoin in circulation becomes profitable. At the time of publication, BTC has been struggling to hold that momentum as the price has shifted below the $11k range a couple of times on Tuesday. The spike on Tuesday led to a decent…

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Top 5 Swiss Bank’s Profits up 34% After Bitcoin Integration

Julius Baer, one amongst the above-mentioned top-five Swiss bank, recorded its net profit upsurge by 34% in the first half-yearly of 2020 which accords with the bank’s introduction of a supervisory provision for digital assets like Bitcoin (BTC) in January, the same time span in which it initiated offering digital assets like Bitcoin to its clients. Julius Baer Group, manages $427 billion in assets, proclaimed on July 20 that its revenue amplified by $524 million in the last 2 quarters. The bank was mostly furthered from an escalation in trade revenues all over the U.S. and Europe. Overall surge in…

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