London-based cloud mining firm Argo has announced that it will allow its users to mine Bitcoin using its rapidly growing platform. The number one digital currency by market capitalisation will be included next to a host of other popular cryptos from early next month.
Argo to Include Bitcoin as Part of Its “Mining as a Software” Platform
A cryptocurrency cloud mining company has announced that it will add Bitcoin to its roster of altcoins from November 1, 2018.
The planet’s most popular digital asset will join the likes of ether, Bitcoin Gold, ETC, Zcash, Komodo, and Horizen as part of Argo’s services aimed at aspiring crypto miners who are less tech-savvy. With Bitcoin’s inclusion, the total number of digital currencies supported will be seven.
According to a report in BusinessCloud, the decision to offer Bitcoin on the Argo platform was made in response to public demand. Mike Edwards, the company’s co-founder and president, had the following to say about Bitcoin’s inclusion:
“We have seen strong demand for Bitcoin and our growth strategy is customer-led. We look forward to offering even more choice as demand grows and we invest in our platform.”
Argo is a technology startup operating out of London, England. The firm offers digital asset cloud mining services for a monthly subscription. Their goal is to become the most trusted and transparent provider of mining services aimed at those who lack the technical know how or expensive hardware needed to provide computing power to a range of public blockchains.
The company, which was floated on the London Stock Exchange this August, has already seen a ten-fold increase in the number of subscriptions sold in its short existence. During its initial public offering (IPO), the startup was able to raise $32 million. It trades under the ticker ARB and currently claims to serve 4,200 cloud miners from around the world.
Argo operates extensive “state-of-the art data centres” out of Quebec, Canada. Excluding the necessary hardware itself, perhaps the largest overhead for cryptocurrency miners is electricity. Thanks to its abundant cheap energy, many mining operations have relocated to Canada in recent months. The cold climate also allows those running huge numbers of specialised computer chips in a confined data centre environment to save on heat extraction costs.
In a promotional video from the Argo website, the firm claims to be able to make anyone a Bitcoin miner “in under 5 minutes.” They state that their team comprises of experienced technology veterans dedicated to making cryptocurrency mining possible for as wide an audience as possible. This, they claim, is vital to the “widespread success of cryptocurrency.”