Argo hails better-than-expected returns from investment in crypto-mining machines
Source - SMW
Cryptocurrency mining services provider Argo said its strategy to make a major investment in new mining hardware had delivered better than expected returns to date.
Argo said the 1,000 Bitmain Z11 Antminer machines - purchased in April - had achieved a 100% payback, with company recouping the full cost of machines in under half the time initially estimated.
Based on current mining margins, Argo said it was well ahead of schedule to recoup the cost of the 2,267 S17 Antminer machines purchased in April and May of 2019 and which had been in production since May and June.
At 8:46am: (LON:ARGO) Argo Group Ltd share price was 0p at 22.5p