Hey Ninjas, how’s the trading going. The largest and most popular cryptocurrency Bitcoin has been quite unstable in the last 7 days. BTC dipped below $10,000 multiple times in the past 7 days and is currently trading at $10,069.
Bitcoin reached its highest price value on the 19th of August and has since been depreciating, the largest crypto is currently reporting losses of 1.89% in the last 24 hours.
Argo Blockchain (cryptocurrency mining firm), reportedly mined about 163 Bitcoin in the month of July which are valued are valued at $1.655 million.
According to news reported on the 27th of August by ProactiveInvestors (U.K based business news outlet) Argo is increasing its cryptocurrency mining after the firm reporte3d an increment in its stocks in the past month.
Argo reportedly owns 7,025 machines, which is mainly used for Bitcoin mining and has ordered more machines. In the month of August Argo signed a deal to increase its electricity supply by 357% which would reportedly be enough to power 15,000 machines, with that many machines mining BTC the firm's harshrate will rise to 1,360 petahashes and allegedly make the Argo the largest publicly listed miner.
The company’s chairman Mike Edwards commented on the new development, he stated that “operational gearing” is very important as the company plans to triple its crypto mining over the next two quarters.