CEO Peter Wall displays belief in digital belongings with BTC wage funds
Argo Blockchain, a world chief in cryptocurrency mining (LSE: ARB) (OTCQX: ARBKF) in the present day introduced that they’ve mined 129 Bitcoin or Bitcoin Equal (collectively, “BTC”) within the month of February in comparison with 93 BTC in January. This takes the whole quantity of BTC mined year-to-date to 222 BTC. On the finish of February, the corporate held a complete of 599 BTC.
Primarily based on every day international change charges and cryptocurrency costs in the course of the month, mining income in February amounted to $6.04 million in comparison with $3.46 million in January 2021. Argo generated this earnings at a mean month-to-month mining margin of roughly 81 % for the month of February, up from 71 % in January 2021. Argo has moreover introduced that as of March 1, 2021, CEO Peter Wall will obtain his wage solely in Bitcoin.
“I’m thrilled that Argo has achieved one other report month in each mining income and income,” mentioned CEO Peter Wall. “A mining margin of 81 % is a brand new milestone for Argo and we’re excited to see what the longer term holds as we proceed so as to add to our BTC HODL. I’m additionally happy to be the primary publicly traded firm that we all know of to have their CEO paid in Bitcoin. Argo is paving the way in which for each mining corporations and the cryptocurrency business at massive.”
Alongside Wall, another Argo group members might select to be paid in Bitcoin for a part of or all of their salaries. For people who decide in, Argo will routinely convert salaries from fiat to Bitcoin on the every day market fee utilizing the Toronto-based Satstreet change utilizing their “Bitcoin Financial savings” service.
On February 26, Argo accomplished set up of a further 4,500 Bitmain Antminer S19 and S19 professional miners, leased in November 2020 from Celsius Community, that are actually totally operational. This takes the Firm’s whole mining capability to 1075 Petahash (SHA-256) along with 280 Megasols of equihash mining capability.
Argo Blockchain plc is a world chief in cryptocurrency mining with one of many largest and best operations powered by clear power. The Firm is headquartered in London, UK and its shares are listed on the Fundamental Market of the London Inventory Alternate below the ticker: ARB and on the OTCQX Finest Market in the USA below the ticker: ARBKF.
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