Capacity ReductionThe hosting agreement for Helios is ending in December 2024, which will significantly reduce Argo's hash rate capacity.
Debt And Mining EnvironmentArgo is faced with negotiating a few issues, including balancing capital allocation in a return to growth and managing the $40M debt due.
Revenue DeclineArgo's 3Q24 revenues decreased to $7.5M from $12.4M in 2Q24, and the number of bitcoins mined also dropped from 157 to 123.