Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), Author: irishash, reproduced by Odaily with authorization.

Editor's Note: This article comes from

Cybtc Blockchain (ID: cybtc_com)

, Author: irishash, reproduced by Odaily with authorization.

Argo Blockchain, the leading British bitcoin mining company, has increased its bitcoin reserves by 30%, according to new reports.

As of the end of November, at the time of writing, the company’s bitcoin mining rigs had cumulatively produced 178 bitcoins, worth about $3.4 million.

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Revenue soared 23%

According to USA Today, Argo had a landmark initial public offering in August 2018. It raised $32 million, beating its original goal of $25 million.

Argo’s revenue rose 23 percent to $1.98 million last month, even as the company generated slightly less bitcoin from its mining operations.

The company’s CEO, Peter Wall, claims that the company has managed to achieve its highest mining profitability since May thanks to its focus on improving operational efficiency:

At Argo, we continue to prioritize the efficiency of our mining operations, which has resulted in a 23% increase in our revenue this month and our highest mining profitability since the halving earlier this year.

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