Company attributes
Other attributes
Argo Blockchain PLC offers mining-as-a-software (MaaS) services that make it easier for clients to mine Bitcoin Gold, Ethereum, and other alternative coins through a cloud-based solution.
Argo Blockchain is a world-leading cryptocurrency miner, which excels in the usage of renewable sources of power as a means of supporting the growth as well as the development of blockchain technologies. Argo Blockchain provides 45MW active mining power (megawatts) through its energy-efficient mining facilities located within North America. Additionally, they provide 1.605 EH/s through the SHA-256 Hashrate as a capacity and a 280MS Equihash Rate. Equihash is the algorithm that is specifically used for the process of mining Zcash, which is a popular alt-coin.
Argo specifically mines from established jurisdictions at facilities located in North America and has allocated resources towards searching for adaptable and highly efficient data centers. Their energy source is majority hydroelectric, and the coins they mine are Bitcoin (BTC) and Zcash (ZEC).
There are three mining facilities they use:
- Gatineau—in 2018, this facility oversaw the creation of Argo’s initial GPU mining system and continues to support technical developments
- Mirabel—a 20,000 square foot facility with a capacity of 5 MW and Argo’s first large-scale facility.
- Baie Comeau—a 40,000 square foot facility located in Northern Quebec with a 15 MW capacity, managed by the hosting partner GPUone.
Argo Blockchain PLC has gathered a reputation for being a climate-positive company that has mitigated Scope 1, 2, and 3 greenhouse gas emissions that are associated with all of its crypto-related operations. They source their energy from Hydro and other renewable, clean sources wherever possible, and their Quebec facilities are on the Hydro Quebec power grid, which uses 100% hydro and Wind. Within the US, RECs were purchased as a means of neutralizing all 46.9 MTCO2e of emissions resulting from Argo’s operations.
The future facilities, which are planned to launch in Texas, are planned to source mainly wind and solar power. Argo Blockchain PLC addresses e-waste by repairing their machines whenever possible at a point in time where they break down, and through not throwing away any parts but salvaging power supplies, fans, and chips. They have also implemented immersion mining, which helps double the lifespan of the miners used.
Argo Blockchain PLC is a publicly-traded blockchain company focused on large-scale cryptocurrency mining, which is listed on the London Stock Exchange. The company was originally founded in 2018 and is headquartered in London, England.
At the time of its addition to the London Stock Exchange, the company raised £25 million, before expenses, via a placing of 156,250,000 ordinary shares at 16p each, which valued the company at a market capitalization of £47 million on flotation.
The team behind Argo Blockchain PLC consists of multi-talented, dynamic mining and blockchain network experts, technologists, entrepreneurs, and engineers.
The executive team of Argo Blockchain PLC consists of the following people:
- Peter Wall—Chief Executive Officer
- Sebastien Chalus—Chief Security Officer
- Perry Hothi—Chief Technology Officer
- Alex Appleton—Chief Financial Officer
- Justin Nolan—VP of Business Development
- Jean Esquier—VP of Technology and Development
- Davis Zapffe—General Counsel
