The mining company Argo released its semi-annual report: the net loss in the first half of 23 was 18.8 million US dollars, and the total debt dropped to 75 million US dollars

Odaily Planet Daily News The mining company Argo released its semi-annual financial report, showing a net loss of US$18.8 million in the first half of 2023, a 50% drop from the US$39.6 million net loss in the first half of 22. In 23 years, the debt of 4 million US dollars was repaid, and the total debt dropped to 75 million US dollars. In addition, operating income in the first half of 23 reached US$24 million, a decrease of 31% compared to the same period last year, which was related to the decline in Bitcoin and the increase in global hashrate and related network difficulty. According to the Argo report, a total of 947 bitcoins were mined in the first half of this year, an increase of only 1% over the same period in 2022, but the global hash rate increased by 78% in 2023. (Cointelegraph)