Bitcoin Mining Stock Update (April 29, 2022)
Bitcoin mining stocks had another rough week this week, with Bitcoin's price trading under $40k.
Argo reported strong FY 2021 numbers, with revenues growing 290%. It provided year end 2022 hashrate guidance at 5.5 EH/s, and a longer-term estimate of over 20 EH/s beyond 2022 as its Helios site reaches full capacity. Riot announced a new 1-gigawatt site in Navarro County Texas. It expects the first phase of 400MW to commence in July 2023 at an estimated cost of $333m.
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