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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
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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.

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