RATE Group | UK Bitcoin Miner Eyes 240% Capacity Boost With New $10M Hardware Order
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UK Bitcoin Miner Eyes 240% Capacity Boost With New $10M Hardware Order

02 Nov UK Bitcoin Miner Eyes 240% Capacity Boost With New $10M Hardware Order

Posted at 02:30h in Bitcoin News by

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United Kingdom-based mining firm Argo Blockchain has doubled its order of new cryptocurrency miners as it eyes “significant expansion” of its capacities.

An Oct. 30 report from Proactive Investors revealed that the firm — which is listed on the main market of the London Stock Exchange —  is poised to increase its current hash power by 240%.

Poised for 17,000 miners in operation

In lieu of a prior order for 5,000 new Antminer S17s at a cost of $13.09 million, Argo Blockchain has reportedly now placed an order for 10,000 Antminer T17s — at a cost of $9.51 million.

The firm’s original $6.5 million down payment will be carried through for the new order, the company indicated, with the remaining $3 million to be provided from Argo’s cash reserves.

With the new delivery expected in early December, the firm will have a total of 17,000 Bitcoin (BTC) mining machines in operation.

Argo executive chairman Mike Edwards said the new order represented a “significant expansion” of…

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