Argo Blockchain PLC
Argo Blockchain is a cryptocurrency mining firm based out of London.[1] OverviewArgo Blockchain was founded in 2017 by Mike Edwards, an executive with experience building tech startups, some of which sold to large companies like Google and Twitter.[2][3] Argo is publicly-listed on the London Stock Exchange. Its August 2019 initial public offering raised $32.5 million after a pre-tax loss of $5 million in 2018.[4] The company announced in August 2019 that it aims to become "the world's largest publicly-listed crypto miner by 2020."[5] In early January 2020, Argo announced it was installing 3,616 more of Bitmain's Antminer machines in addition to the machines the company already possessed, increasing its cryptocurrency mining capacity by 75 percent. Its CEO Peter Wall said the company plans to install an additional 6,384 machines by the end of Q1 of 2020, which would increase its initial mining capacity by 204 percent.[6] In February 2021, Argo said that it had signed an agreement with Toronto-based ePIC Blockchain to buy $8 million of application-specific integrated circuit (ASIC) bitcoin mining equipment for delivery in the fourth quarter of the year. The contract gives Argo first rights to ePIC's production throughout the rest of 2021 and 2022.[7] Earlier in the month, the company signed a Letter of Intention to purchase 320 acres of land in west Texas where it could build a 200 MW data center for bitcoin mining.[8] Key People
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