Why Bitcoin- And Ethereum-Related Stock Argo Blockchain Is Diving

Argo Blockchain PLC - ADR ARBK shares are trading lower by after the company announced a December operational update.

What Happened?

During the month of December, Argo says the company mined 147 Bitcoin or Bitcoin Equivalents,  compared to 198 BTC in November 2022.

As part of the press release Wednesday, Argo Blockchain says the decrease in BTC mined was primarily due to the curtailment of mining operations at the Helios facility in Dickens County, Texas in response to the widespread winter storm that impacted much of the United States in late December.

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Argo says that, as of the end of December 2022, the Company held 141 Bitcoin, of which 116 were Bitcoin equivalents. The company's total hashrate capacity continues to be 2.5 EH/s.

According to data from Benzinga Pro, ARBK has a 52-week high of $12.50 and a 52-week low of $0.36.