Large UK based Bitcoin mining company boosts order on cryptocurrency miners
- Argo Blockchain, a large Bitcoin miner has announced a doubling in their order of cryptocurrency miners.
- An increase in Bitcoin mining machines to 10,000 from 5,000.
UK mining firm Argo Blockchain, announced the doubling of its order of new cryptocurrency miners as they aim for significant expansion of its capacities. It will be set potentially for an increase in its current hash power by 240%.
Argo Blockchain has increased its order for Bitcoin mining machines to 10,000 from 5,000.
The cryptocurrency miner has replaced an order for 5,000 Antminer S17s, which would have cost US$13.09mln, with an order for 10,000 Antminer T17s costing US$9.51mln.
Executive chairman of Argo, Mike Edwards, said:
Our strong balance sheet and cash flow means we can continue to invest to take advantage of favourable industry conditions and position Argo for long-term growth and value creation.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
