2 years ago
Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
Bitcoin miner Argo Blockchain’s raised 2022 hashrate guidance to 5.5 exahash per 2nd (EH/s), an astir 50% summation from erstwhile guidance of 3.7 EH/s, mostly driven by mining rigs that usage Intel’s caller chips.
“With our mining operations astatine Helios expected to commence successful May, on with the improvement of customized mining machines utilizing Intel’s next-generation Blockscale ASIC chips, Argo is well-positioned to proceed its maturation with a absorption connected delivering for our shareholders,” said CEO Peter Wall successful a statement.
On April 4, Chip elephantine Intel (INTC) launched its second-generation bitcoin mining chip, called “Intel Blockscale ASIC,” which volition connection miners much businesslike mining rigs than astir models disposable successful the market. Bitcoin miners Argo Blockchain, Hive Blockchain and Griid Infrastructure arsenic good arsenic elephantine Block (formerly Square) volition beryllium among the archetypal customers to person the caller Intel Blockscale ASIC.
The miner besides said the archetypal 200 megawatt (MW) retired of its capableness of up to 800MW for its Helios projects successful Dickens Country, Tex.is expected to beryllium operational successful May. The further superior spending to implicit this archetypal signifier is expected to beryllium successful the scope of $125 cardinal to $135 million, which volition beryllium funded chiefly done indebtedness and proceeds from selling a information of mined bitcoins each month.
Beyond 2022, Argo expects to turn its hashrate to much than 20 EH/s implicit the adjacent fewer years arsenic the further 600MW capableness astatine its Helios installation comes online.
Argo besides reported 2021 income of $100.1 million, which bushed the mean expert estimation of $98.3 million, according to FactSet data. Its 2021 nett income was $41.5 million, little than the statement estimation of $45.3 million.
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Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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