The blockchain platform has added the number of mining machines to 7,000. Argo claims that plans are underway to purchase 10,000 more crypto machines in 2020. The officials of this company are very optimistic about this new project.
10,000 More Miners
Argo, a mining company, experienced a significant increase of miners in 2019 because of recovering prices. That move saw even the miners that had left to come back and mine crypto. The company has experienced tremendous developments, which include the upgrading of their mining machines.
The crypto heavyweight has always been looking to upgrade their mining gear with huge goals in mind. According to a recent announcement, Argo stated that it is aiming at having close to 17,000 mining gear by March 2020. Argo has even ordered 10,000 machines from the supplier, and they should be in possession of the company these coming months.
The UK crypto-based miner has also said that they have increased the machines working in mining the crypto to 7,000 machines. The additional 10,000 mining machines will most likely get to the company in batches, and it is expected they will start arriving in the initial days of December. Argo's goal to have 17,000 miners will be attained once all the miners are received.
Argo Officials Hopeful about This New Venture
The company's plans may seem outrageous more so, having in mind that miners can be quite expensive. The crypto industry, however, has improved in 2019, and many analysts expect the trend to carry on into next year.
By now, the over 1,000 S17 Antminers, which have been mining since May 2019, have already paid the entire investment amount. That clearly shows that crypto mining can still be a good venture as at now.
Mike Edwards, Argo's executive chairman, said that the company is looking for ways to ensure the mining hardware delivers to the best of their abilities. Recent mining machines are, of course, more able and stronger than the ones manufactured earlier on, and that is why Argo is very optimistic about their decision.