Argo Blockchain installs 4,500 new mining machines

Argo Blockchain PLC (LON:ARB), the UK-listed cryptocurrency miner, has announced that it has installed 4,500 Bitmain Antminer S19 and S19 pro mining machines.

The company announced that the newly installed hardware will add approximately 430 petahash to the company’s installed computing power and consume approximately 15MW of electricity. Argo Blockchain claims on its website that its mining infrastructure has the highest petahash to MW ratio of all publicly traded companies on the market.
The machines are on lease from Celsius Network in a deal that was agreed in November 2020 and the company has now confirmed they were all installed on time and are all fully operational.

The installation of the cryptocurrency mining machines represents the final delivery of the Antminer’s under the lease agreement with Celsius Network.

Speaking following the announcement, Argo Blockchain CEO Peter Wall said: “We are delighted with the addition of these machines and believe that this installation will help Argo maintain its position at the forefront of mining efficiency.”