293,750,000 ordinary shares
The Company has decided to initially target four cryptocurrencies, being
- Bitcoin Gold,
- Ethereum Classic and
The Company has selected these initial cryptocurrencies on the basis of the following factors:•supporting GPU based proof of work;•use of Ethash and Equihash as the hashing algorithm;•existing large market cap and mining base; and•existing mining pools and wallets supporting the particular cryptocurrency.This means that the Company will not support Bitcoin on launch but could support Bitcoin over time with future acquisition of ASIC Bitcoin mining hardware. The Company’s software allows it to add GPU based cryptocurrencies to its offering in a modular manner. The Company will evaluate adding further cryptocurrencies based on a number of factors including, but not limited to, those set out above, and the Company may add or remove cryptocurrencies from its service offerings in the future.
One of our Patreons On Our Discord Said:
What’s weird about ARGO though… they’re mining Bitcoin Gold (why not bitcoin prob because too competitive and they won’t be profitable) Ethereum (proof of stake soon) Ethereum classic (dead) and Z Cash (privacy coin about to get delisted) It’s not looking good tbh It may still pump if people fomo but
Alternative uses for the Company’s equipment
The Company may, in the future, explore alternative uses of its technology, such as selling server capacity forvirtual desktops, gaming, industrial design, HPC visualisation, 3D modelling and rendering, 3D application streaming, machine learning, high performance databases, computational fluid dynamics, computational finance, seismic analysis, molecular modelling and genomics. While the Company has not explored these opportunities to date, the Company’s hardware would be suitable for adaptation to the uses mentioned above, and may provide an alternative source of revenue to the Company in the future. Established cloud computing businesses such as Amazon and Microsoft offer services in this regard, namely Amazon EC2 Elastic GPUs and Microsoft Azure N-Series, while others such as Paperspace and FloydHub also offer services in this sector.
Combination of inexpensive hydropower from North America and the best machines on the market has allowed Argo to continue to be profitable, even throughout cryptocurrency downtimes.
Our cryptocurrency mining infrastructure has the highest PH (petahash) to MW (megawatt) ratio of all publicly traded companies on the market. This remarkable energy efficiency results in cheaper mining operations and higher overall margins.