9 Oct, 2019

Argo Mining Firm Increases its Hashrate

The cryptocurrency mining company Argo Blockchain is unquestionably growing due to the increase in the company’s share price.

An aggressively growing mining company
ProactiveInvestors, based in the United Kingdom, said on August 27 that crypto mining company Argo Blockchain is expanding its mining potential after its share price has risen sharply in recent months. According to the report, the company owns 7,025 machines that mostly use Bitcoin (BTC), but has already ordered more equipment.

This month, Argo also signed an agreement to increase electricity supply by 357%, which would be enough to supply an additional 15,000 engines. That many machines would get the company built on 1,360 floors and make it the largest miner.

A profitable endeavor
In July, Argos exported 163 Bitcoin worth $ 1.655 million during the press. Mike Edwards, CEO of the company, commented on the evolution:

“This business pursuit is very important as we are tripling our mining potential over the next two quarters without a significant increase in mining outside the mines.”

The company’s share capital is listed on the London Stock Exchange on the basis of the ARB price list and is available at £ 9.75 ($ 11.98) from press time. The share price has tripled in value since early May, according to Google Finance.

As the Cointelegraph announced last week, the Bitcoin hedging rate had broken another all-time high, according to Aug. data. 19 from the Blockchain.com tracking resource.