According to a statement released Wednesday, Bitcoin miner Argo Blockchain aims to attain a hash rate of 3.2 exahash per second (EH/s) by the end of 2022. That’s 41.8% down as compared to the first-quarter results. At the end of July, it had a hash rate of 2.2 EH/s. Filing With US Securities And Exchange Commission (SEC) Argo CEO Peter Wall stated in a filing with the US Securities and Exchange Commission (SEC) that the revision reflects current estimates for the supply and deployment of the specialized machines utilizing Intel’s Blockscale ASIC processors. Wall stated, “We have worked closely with ePIC and Intel to modify the machine design to increase total mining efficiency, which has delayed our expected deployment schedule. We have worked closely with ePIC and Intel to modify the machine design to increase total mining efficiency, which has delayed our expected deployment schedule,” By October of this year, the business still plans to finish installing its order of 20,000 S19 J Pro machines from Bitmain. Announcement Of Pre-Tax Loss Argo announced a pre-tax loss of £36.9 million for the first half of 2022, mostly due to a non-cash decrease in the fair value of digital currencies retained on the balance sheet. Despite the difficulties we had in the first half of 2022, Wall remarked, “Argo is well positioned to weather the current downturn with its large and highly efficient mining infrastructure, runway for growth, and exp...
