Argo Blockchain’s Crypto Mining Margin Narrows to 20% as Natural Gas Prices Soar

Rampant energy costs at the facility, which uses electricity bought on the spot market, have eaten into profitability this year. The margin, which stood as high as 74% in January, had sunk to 37% by July. The company is trying to secure a long-term, fixed-price power purchasing agreement to lower its exposure to volatility in energy markets.