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–?? Argo Blockchain CEO from now on paid in BTC
?? Bitcoin mining rate increased
?? Computing power increased through machine leasing
The blockchain company Argo Blockchain, which is traded on the London Stock Exchange, recently raised its trust and commitment to cryptocurrencies to a whole new level. Argo announced that CEO Peter Wall has been receiving his salary in Bitcoin since March 1, 2021. The fiat currency would be automatically converted on the payday to the current BTC rate, as determined daily at the Satstreet Exchange in Toronto. Other employees of the blockchain company would now also have the opportunity to use this salary option.
In the announcement, Argo boss Wall was very pleased with the innovation of his company: “I am delighted to be the first publicly traded company known to us that pays its own CEO in Bitcoin.” The decision to take the unusual step was made at a time when Bitcoin & Co. was receiving increasing institutional interest.
More and more companies are interested in Bitcoin
More and more companies are deciding to include the original cyber motto in their balance sheet. – Trading Bitcoin with Plus 500 – that’s how it works. 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should carefully consider whether you can afford the high risk of losing your money. – The best-known example is likely to be the US car maker Tesla, which recently disclosed a BTC investment of 1.5 billion US dollars and thus gave the cryptocurrency a significant boost. Incidentally, since the announcement at the time, Tesla has also decided to enable the purchase of a Tesla using Bitcoin.
Argo Blockchain increases BTC mining rate
But that wasn’t all the news Argo Blockchain had to report in the release. In addition to the new CEO salary option, the company also announced that it had also increased its mining rate for BTC. After having mined 93 coins in January 2021, Argo achieved a workload of 129 coins in February, setting a new record in terms of sales growth. Because of the high Bitcoin price level, the income from prospecting increased to 6.04 million US dollars in February. For comparison: In the previous month it was still $ 3.46 million. The prospecting rate in February would have been 81 percent, “which corresponds to a new milestone for Argo,” as Peter Wall is quoted in the press release. Argon now has a total of 599 digital coins.
Computing power additionally strengthened
The increased mining rate was made possible by 4,500 newly installed mining machines leased from Celsius Network. The machines are the Bitmain Antminer S19 and S19 pro models, which are now fully operational. Their installation increased the company’s computing power by 430 Petahash. Accordingly, Wall is confident that the additional machines “will help Argo maintain its position at the forefront of prospecting efficiency”.
Finanzen.net editorial team
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