Argo Blockchain's Bitcoin mining fell 20% in January 2024 due to reduced BTC prices.
This translated into a revenue decline to $5.3 million last month.
The drop in the price of Bitcoin at the beginning of the year led to a publicly listed
miner, Argo Blockchain (NASDAQ: ARBK), reporting a reduction in cryptocurrency
mining. Specifically, the company mined 124 Bitcoin in January, a decrease of 20% from December 2023.
Argo Reports Lowe Bitcoin
Mining Production and Revenue in January 2024
The company
generated mining revenue of $5.3 million in January 2024, 19% less than the
$6.6 million in December 2023. The decline in revenue correlated with the
decrease in Bitcoin production.
Argo's CEO, Thomas Chippas, noted
that the lower Bitcoin output reflects a retreat of transaction fees. “Our
Bitcoin production decreased in January as transaction fees retreated from the
temporary spike we saw in December.”
He also
explained that curtailments of facilities in Quebec and Texas due to winter
weather served as a reminder that Bitcoin mining can quickly adjust power usage
to assist grid stability during extreme conditions.
Looking at
the historical results from 2023, it is evident that the mining level at the
beginning of 2024 is one of the weakest in recent times. Mining below the level
of 125 Bitcoins only occurred once over the past year, in August 2023, when the
BTC price hit its holiday lows and mining revenues were reduced to $2.9
million.
Source: Argo
Argo Bids Farewall to the
COO, Secures £7.8M in Funding
In
addition, Argo Blockchain has undergone significant leadership changes. The Chief
Operating Officer, Seif El-Bakly, stepped down from his role after serving as the
Interim Chief Executive Officer from February to November 2023. The company
thanked El-Bakly for his contributions and leadership over the past year.
With
El-Bakly's departure, the operations team will continue under the guidance of the Chief Strategy Officer, Sebastien Chalus, who has been leading operations since February
2023. Argo Blockchain issued 1,973,892 new ordinary shares to El-Bakly as part
of a separation agreement.
In a
separate capital raising move, Argo Blockchain secured £7.8 million ($9.9
million) through share placement to institutional investors. The company
issued 38,064,000 new ordinary shares priced at £0.205 per share, representing
a small discount to the 30-day average price. The funds will provide working
capital, facilitate debt repayment, and support general corporate purposes.
This capital injection positions Argo Blockchain for continued operational
stability and future growth.
The drop in the price of Bitcoin at the beginning of the year led to a publicly listed
miner, Argo Blockchain (NASDAQ: ARBK), reporting a reduction in cryptocurrency
mining. Specifically, the company mined 124 Bitcoin in January, a decrease of 20% from December 2023.
Argo Reports Lowe Bitcoin
Mining Production and Revenue in January 2024
The company
generated mining revenue of $5.3 million in January 2024, 19% less than the
$6.6 million in December 2023. The decline in revenue correlated with the
decrease in Bitcoin production.
Argo's CEO, Thomas Chippas, noted
that the lower Bitcoin output reflects a retreat of transaction fees. “Our
Bitcoin production decreased in January as transaction fees retreated from the
temporary spike we saw in December.”
He also
explained that curtailments of facilities in Quebec and Texas due to winter
weather served as a reminder that Bitcoin mining can quickly adjust power usage
to assist grid stability during extreme conditions.
Looking at
the historical results from 2023, it is evident that the mining level at the
beginning of 2024 is one of the weakest in recent times. Mining below the level
of 125 Bitcoins only occurred once over the past year, in August 2023, when the
BTC price hit its holiday lows and mining revenues were reduced to $2.9
million.
Source: Argo
Argo Bids Farewall to the
COO, Secures £7.8M in Funding
In
addition, Argo Blockchain has undergone significant leadership changes. The Chief
Operating Officer, Seif El-Bakly, stepped down from his role after serving as the
Interim Chief Executive Officer from February to November 2023. The company
thanked El-Bakly for his contributions and leadership over the past year.
With
El-Bakly's departure, the operations team will continue under the guidance of the Chief Strategy Officer, Sebastien Chalus, who has been leading operations since February
2023. Argo Blockchain issued 1,973,892 new ordinary shares to El-Bakly as part
of a separation agreement.
In a
separate capital raising move, Argo Blockchain secured £7.8 million ($9.9
million) through share placement to institutional investors. The company
issued 38,064,000 new ordinary shares priced at £0.205 per share, representing
a small discount to the 30-day average price. The funds will provide working
capital, facilitate debt repayment, and support general corporate purposes.
This capital injection positions Argo Blockchain for continued operational
stability and future growth.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
How Ripple Pulled Off the Year’s Biggest Crypto Raise While XRP Tumbled 40%
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Vitalii Bulynin Talks About Versus Trade, New Pairs, and Big Plans
Vitalii Bulynin Talks About Versus Trade, New Pairs, and Big Plans
In this interview, Versus Trade Co-Founder Vitalii Bulynin explains how the company got its license fast, why its trading pairs are fresh and fun, and what the team will build next.
He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
In this interview, Versus Trade Co-Founder Vitalii Bulynin explains how the company got its license fast, why its trading pairs are fresh and fun, and what the team will build next.
He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Fail Better Trading Tech to Tackle Industry Risks
Fail Better Trading Tech to Tackle Industry Risks
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
