Argo Blockchain, a Bitcoin mining company, has raised £4.2 million ($5.3 million) through a share subscription in order to support strategic initiatives. These initiatives include the potential relocation or divestment of mining equipment from its facility in Texas, as well as the expansion into high-performance computing. The funding will help Argo diversify its operations and capitalize on the growing demand for computational power in the AI sector. The mining company has reported losses in the year to date but is hopeful for improved mining economics in the future. Despite the success of Bitcoin, Argo's shares have declined significantly this year.



Other News from Today