Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Argo Blockchain boosts cryptocurrency mining capacity with tech upgrade

Argo will be able to support 3,000 new subscribers or seven times more than its existing installed capability
New servers are a game changer, says Argo

Argo Blockchain PLC (LON:ARB) has significantly increased its cryptocurrency mining capacity through the introduction of new server technology.

Use of the upgraded ASIC servers will enable Argo to support 3,000 new subscribers or seven times more than its existing installed capability.

READ: Argo Blockchain founders inspired by the success of Netflix and Amazon Web Services

“This is a potentially game-changing development and we want to be early movers in deploying this hardware,” said Mike Edwards, Argo’s President and co-founder.

The recent London listee will start a mass roll-out of its cryptocurrency mining-as-a-service later this month.

Argo has a waiting list of more than 50,000 registered potential users and expects to start adding customers to the new platform shortly.

It will be one of the first mining-as-a-service (MaaS) companies in the world to deploy this new ASIC technology, which will also allow a wider choice of cryptocurrencies.

At present, Argo supports the mining of Bitcoin Gold, Ethereum, Ethereum Classic and Zcash.

Edwards said the new ASIC-based servers had only become available in recent weeks but would dramatically improve the efficiency of mining alt-currencies

The new technology offers a seven times improvement over the previous best available hardware, are cheaper with significantly lower electricity consumption and energy costs.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full ARB profile View Profile

Argo Blockchain Timeline

Related Articles

June 11 2018
“Mining is controlled by an elite. We don’t think that is reasonable and we think it is an impediment to scaling crypto. Our business is 100% about democratising the process"
Litecoin, Ethereum, and Bitcoin
July 10 2018
The firm is aiming to launch a four-pronged offering aimed at drawing new and traditional investors into the rapidly expanding crypto and blockchain markets

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use