Agro Blockchain Purchased Bitmain Z11 To Expand Its Crypto Mining Capacity

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • Recently, Agro Blockchain PLC revealed that it has purchased 750 Bitmain Z11 mining units.
  • However, it had chosen Z11s unlike the new Z15s as it believes that the lower the cost the better the value philosophy.
  • The chief executive Peter Wall said that digital currencies are all around situated to become a considerably bigger asset class.

Recently, Agro Blockchain PLC revealed that it has purchased 750 Bitmain Z11 mining units. Thus, expanding its crypto mining capacity. The firm said that it bought the new mining units for USD 474,000. Those are added to 1,000 Bitmain Z11 and are running at full capacity currently.

Agro Blockchain Looks To Diversify

Argo has almost doubled its mining limit with respect to zcash, perhaps as it hopes to diversify from bitcoin.

The UK-based Agro Blockchain PLC is a cryptocurrency mining firm. Further, the firm notified that the purchase of 750 Bitmain Z11 mining units funded by a combination of cash from its operations and arm’s length financing.

Argo’s mining power majorly focused around bitcoin. In May, the firm had a sum of 18,000 mining rigs, 17,000, and their focus centered around the SHA-256 algorithm. That is principally utilized by bitcoin.

However, the firm had chosen Z11s unlike the new Z15s as it believes that the lower the cost the better the value philosophy. Along with this, it’s a positive attitude toward the Equihash algorithm cryptocurrencies and the incredible performance of its current Z11s.

Lower Price Better Value

Besides this, the chief executive Peter Wall said that digital currencies are all around situated to become a considerably bigger asset class. The right technique has proceeded with investment in mining infrastructure.

According to the company, the current bunch of Z11s has performed amazingly well. Also, Agro is looking to add more equihash mining capacity to the fleet of machines

Given what it said were traditionalist projections of mining difficulty rates and present prices of cryptocurrency.  Argo is likely to recover the expense of the investment in around eight months.

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