Argo adds Bitcoin to mining platform

Cryptocurrency mining services venture, Argo, is launching Bitcoin on its platform from 1^st November.

It says that the move comes in response to consumer demand. Argo’s customers are currently able to mine Bitcoin Gold, Ethereum, Ethereum Classic, Zcash, Komodo and Horizen through its monthly subscription, cloud-based mining-as-a-software service.

The addition of Bitcon follows the expansion of its mining platform and a ten-fold increase in its sold packages to 4,200, marking the first significant ramp-up of the company’s revenues since its Initial Public Offering in August.

“We are delighted to announce the addition of Bitcoin to our platform. This is yet another step towards Argo’s long-term goal to become the leading global provider of easy-to-use and transparent crypto-mining services for the general public” says Mike Edwards, President and Co-founder of Argo.

“We have seen strong demand for Bitcoin and our growth strategy is customer-led. We look forward to offering even more choice as demand grows and we invest in our platform.”

LSE

In August, Argo became the first crypto-mining service provider to gain admission to the main market of London Stock Exchange through a standard listing.

The venture, which is headquartered in London and runs a datacentre based in Quebec, Canada, raised £25 million following its debut, giving it a valuation of £47 million.

On the shareholder register were Miton Capital, Henderson Global Investors and Jupiter Asset Management, while founders Edwards and Jonathan Bixby own around 13% of the company.

In an initial admission document, Bixby said: “Argo’s admission to the London main market is a major step in the company’s development and will put us in a strong position to execute our long-term growth strategy. We are delighted with the strong response from investors which will enable us to grow our business in multiple jurisdictions.”

“The company operates a global datacentre providing a low-cost and consumer-friendly service for the mining of leading cryptocurrencies,” noted the LSE.

“Argo’s cloud-based Mining as a Service (Maas) platform is available at scale to anyone, anywhere in the world on a monthly subscription. It empowers consumers with little or no technical knowledge of crypto-mining, computing expertise or the required complex hardware with the opportunity to mine Bitcoin Gold, Ethereum, Ethereum Classic and Zcash.”