06 Aug Argo Blockchain PLC gets the bitcoin between its teeth
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The installation of new mining equipment continues apace with 1,000 Z11 and 2,269 S17 Antminers currently in production at Argo’s Quebec facilities
PLC (), a UK-based provider of enterprise-scale crypto mining services, generated 163 bitcoins in July.
That equates to £1.36mln of crypto-assets based on a bitcoin price of US$10,122 (as at the end of July).
The assets were mined at a mining margin of roughly 80%.
As part of the company’s previously announced expansion, an additional 7,000 state-of-the-art mining machines will be delivered and be in production by the end of the year.
The delivery and installation schedule of the new equipment is expected to result in a sequential month-on-month rise in Argo’s production capacity over the next five months to around 500 petahash by the end of the fourth quarter of this year, representing a 296% increase over current capacity.
“We are pleased with the mining results in July as they demonstrate that we can use our existing…
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