Report Shows Argo Blockchain Surpasses 1000 Bitcoin in May Amid Mining Difficulty

A business wire report shows Argo Blockchain surpasses 1000 Bitcoin or Bitcoin equivalent in May. The company disclosed; 

“May has been a busy month. We have continued to deliver strong revenue and as a result, Argo’s Bitcoin holding has now surpassed 1,000 BTC” 

As against the 163 Bitcoin mined in April, despite higher mining difficulty, the firm announced 166 Bitcoin or Bitcoin equivalent in May. Daily foreign exchange rates and cryptocurrency prices indicated that May mine amounted to $7.8M less than $9.3M of the previous month. With this figure, Argo Blockchain is said to be holding approximately 1108 Bitcoin or Bitcoin equivalent in May. 

According to the Business wire, 

“Argo is also pleased to announce that it has executed a Grid Interconnection Agreement with the Wind Energy Transmission of Texas (WETT) and American Electric Power (AEP) for 200 MW at their Helios site in the Panhandle of Texas for its Texas mining facility. The facility is expected to connect to the Electric Reliability Council of Texas (ERCOT) grid in Q1 2022. Argo has also purchased two 90 MVA 345kV transformers from Pennsylvania Transformer Technology, a key part of the electrical infrastructure for the Company’s Texas development. The transformers will be manufactured in the United States and are scheduled to be delivered to the site in February 2022. When completed, Argo’s Texas mining facility is expected to be one of the largest facilities in the United States.”

Share your comments about the mining facility and possible holding of the firm this month. 

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