Argo launches crypto-mining service ahead of planned LSE flotation

Argo launches crypto-mining service ahead of planned LSE flotation

Argo, a UK-Canadian venture, is looking to transform crypto-mining with the launch today of a new low-cost, flexible and easy-to-use service for users.

The service is aimed at addressing pent-up demand from users who want to benefit from mining digital currencies but have been put-off by its complexity and significant up-front cost.

The company’s solution is mining-as-a-service (MaaS), which enables users to commence crypto-mining without the need to have significant computing expertise or acquire complex and expensive hardware and have the frustration of setting up their own systems. Users can start mining for digital currencies within minutes of accessing Argo’s website on a mobile phone or computer.

The launch comes as the company separately announced plans for a flotation on the London Stock Exchange to raise substantial new funds to drive its expansion.

Using what the company describes as state-of-the-art computing hardware and mining software, the Argo platform also saves time and vastly improves user-experience.

Argo’s system was developed by a team of experienced technology experts including its co-founders Jonathan Bixby and Mike Edwards.

Bixby said: “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 added: “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.”

The service is available to adults with a credit card for an introductory subscription fee as low as US$25 (£18) per month. Users have a choice to mine four digital currencies: Bitcoin Gold, Ethereum, Ethereum Classic and Zcash. Miners choose contracts on a monthly renewable basis.

Argo is headquartered in London, UK, with its initial data centre located in Quebec, Canada.

Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.