Argo Blockchain Likely to Break Even in Second Quarter

Argo Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term, a cryptocurrency firm that is listed on the London Stock Exchange, released an operational update for investors on Wednesday.

In an effort to further fill the company coffers, Argo said that it has purchased an additional 1,000 mining units from Bitmain - a Chinese company that produces hardware for crypto mining operations.

In its statement, Argo noted that, since it decided to purchase the 1,000 units, the price of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term has increased by 15 percent. Thus, prior estimations as to the profitability of those new mining machines are likely to be low.

The mining company says that it expects to have BTC 400 on its balance sheet by the end of this quarter. If that does happen, and prices remain the same, that would mean an additional $2.36 million in revenues for the firm.

Stock dive

If that does happen, the crypto outfit says that it will be able to break even for the second quarter of this year.

That will be welcome news to shareholders in the company. Since listing on the LSE in August of last year, Argo has seen its stock value decline by over 75 percent, with shares currently trading at £3.35 a piece.

Despite that drop and the crash, in November of last year, in the cryptocurrency markets, the firm said it remains committed to its focus on the digital assets market.

“Argo expects to turn EBITDA break-even in the second half of this year,” said company chairman Jonathan Bixby.

“We strongly believe that the cryptocurrency market has considerable long-term potential to become a major asset class and that the correct strategy is to continue to invest in mining infrastructure at current prices."