argo blockchain
BTC miner CleanSpark scoops up thousands of miners amid ‘distressed markets’
Sustainability-focused Bitcoin (BTC) mining company CleanSpark has snapped up another 3,843 cryptocurrency miners amid a backdrop of mining industry consolidation. The $5.9 million purchase of the Antminer S19J Pro Bitcoin miners announced by the company on Nov. 1 came at a price of $15.50 per terahash — far cheaper than the current market price of $22.94 for a machine with the same efficiency according to data from Hashrate Index. The purchase has brought its total number of machines to around 50,000 according to the company. CleanSpark said it’s purchased 26,500 miners since the start of the “bear market conditions” — a time when many mining firms have been forced to sell off mining equipment or even consider filing for bankruptcy. There is a possibility that the miners...
Senate Finance Committee Chair probes “lack of safeguards” in crypto tax incentives
Democratic Senator Ron Wyden is digging into the activities of crypto companies that take advantage of tax breaks provided by the Opportunity Zone program. Senator Wyden’s main concern stems from the perception that some crypto companies may be taking advantage of what he called “a lack of safeguards and transparency measures” in the Opportunity Zone program. The concerns were raised in letters he sent to two companies and one individual. He wants to understand how they are providing the required reciprocal support for low-income communities as stipulated by the rules of the program. The Oregon Senator wrote letters to crypto miners Argo Blockchain and Redivider Blockchain and to Opportunity Zone specialist accountant from accounting firm HCVT Blake Christian. The Opportunity Zone program ...
Argo Blockchain among most traded stocks by Fidelity customers
Financial services company Fidelity Investments’ U.K. arm reported that over the last 12 months, customers were most interested in trading shares of crypto mining firm Argo Blockchain. In a Thursday report, Fidelity said Argo Blockchain ranked third among the top five stocks most actively traded by its customers in 2021 — the others were Rolls-Royce, British Airways owner International Consolidated Airlines, oil giant BP and Lloyds Banking Group. Argo, which Fidelity described as a “trending” stock, also ranked third among stocks traded by Self-Invested Personal Pension, or SIPP, investors. However, the financial services company hinted that Argo may not make the top five next year. According to Fidelity, “new arrivals” knocked the mining firm off the list of most actively traded sto...
