Argo launches crypto-mining platform

June 11, 2018
Chris Wheal

Argo, a UK-Canadian crypto-mining venture, launched on Monday a service that will enable cryptocurrency miners flexible and low-cost access to mining digital coins.

Argo also announces plan to float on LSE: Pic by Argo

The company’s new platform is aimed at addressing high demand from blockchain coders who want to benefit from mining digital currencies but are excluded because of the complexity and expense of setting up their own mining enterprises.

Mining as a service

Argo’s solution is called “mining as a service” (MaaS), enabling users to mine cryptocurrencies without the significant set-up cost of the computing hardware and software needed.

Users can begin mining digital currencies within minutes of accessing its website, either through a computer or mobile device, the company says.

“Using state-of-the-art computing hardware and mining software, the Argo platform also saves time and vastly improves user-experience,” say Argos co-founders Jonathan Bixby and Mike Edwards.

Subscription fees will be £18 ($25) a month and the service offers access for mining four digital currencies: bitcoin gold, ethereum, ethereum classic and zcash, and miners select contracts on a monthly renewable basis.

Pic by Argo

Democratising crypto-mining

Bixby (left) says: “We have launched this service to take the pain and heartache out of participating in the biggest new technology breakthrough since the launch of the internet.”

Edwards adds: “Setting up a computer rig to mine cryptocurrency is challenging, inefficient and expensive. I knew that we had to change the game and democratise the process so that crypto-mining could become a mainstream consumer activity.”

Alongside the mining platform launch the company also announced plans to float on the London Stock Exchange to raise funds for further expansion.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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