Against the background of price hike of its shares to the mining company Argo became dramatically increase the volume of computing power used for mining cryptocurrencies. This was reported by British media.
In may, the company announced the change of strategy of business development. It was also stated that now the miners will use energy-saving and more efficient equipment.
According to the report of Argo, the company now owns 7025 units of mining equipment. Based in these devices are used for mining bitcoin. However, it is already known that the company began the purchase of additional miners, which allowed it to increase Hasrat.
This month, Argo has signed an agreement with electricity supplier about increasing electricity consumption by 357% to maintain 15 000 mining devices. Some experts believe that in the medium term, the Argo would be the largest public miner.
In July the company produced 163 bitcoins, which amounted to $1,665 million According to a top Manager Argo Mike Edwards, in the near future, capacity will be increased three times, while no significant rise in price of mining is not expected.
On the London stock exchange the shares of Argo may have jumped in price three times to $11,98 apiece.
Source — CoinSpot