Argo Blockchain’s Electrical Surge
In a move that’s hotter than a freshly mined Bitcoin, Argo Blockchain recently installed 1,000 more mining machines as reported by ProactiveInvestors on September 19. With this latest addition, the company’s total mining machines now stands at a staggering 6,000. But hold onto your hard hats, folks—there are plans to bring in an additional 6,000 machines within the next two quarters. If that doesn’t scream ambition, what does?
Powering Up for the Future
But wait, there’s more! Argo Blockchain has also announced a deal to boost its electricity supply by a whopping 357%. This isn’t just hot air; the new electricity supply will be sufficient to power an additional 15,000 machines. Imagine the sheer force of lightning that can result from machines buzzing away, mining the digital gold that is Bitcoin.
Long-Term Plans? More Like Long-Term Dreams!
By August, Argo had accumulated around 7,025 machines, primarily mining Bitcoin (BTC). If the company makes good on its plans to boost its fleet to 15,000 machines, it forecasts that its total hash rate could soar to 1,360 peta hashes. This leap could position Argo as the largest publicly listed miner in the market. Now that’s a title worthy of a crown!
Stock Prices and Mining’s Profitable Appeal
The numbers don’t lie! Since the beginning of May, Argo Blockchain’s stock price has skyrocketed by 192.3%, evolving from £3.25 ($4.06) to £9.5 ($11.85) per share. Talk about riding the Bitcoin wave! Remember, as Cointelegraph noted, Bitcoin mining has become a remarkably profitable venture over its decade-long journey, raking in all-time revenues exceeding $14 billion.
What Lies Ahead?
Argo Blockchain is committed to keeping investors and enthusiasts updated about its development plans, with more news expected next month. Will we see them dominate the mining scene? Only time—and maybe a few more power supplies—will tell!
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