Argo increases Bitcoin production despite BTC difficulty growth
Argo’s daily Bitcoin production rate in February surged 7% despite a 10% month-over-month increase in average network difficulty. Publicly-listed Bitcoin (BTC) mining firm Argo Blockchain has increased its daily BTC production despite a significant spike in network difficulty. During the month of February, Argo mined a total of 162 of Bitcoin or BTC equivalents, translating to 5.7 BTC per day, the firm announced in an operational update on March 7. Argo’s daily Bitcoin production rate in February surged 7% from 5.4 BTC per day produced in January, despite a 10% month-over-month increase in average network difficulty. Bitcoin mining difficulty is a measure defining how hard it is to mine a BTC block, with a higher difficulty requiring more hash rate, or additional computing power to verify transactions and mine new coins. According to data from Blockchain.com, BTC network difficulty has been surging to new all-time highs in February, hitting a difficulty rate of 43 trillion on Feb. ...