{"id":81718,"date":"2018-06-09T13:25:44","date_gmt":"2018-06-09T13:25:44","guid":{"rendered":"http:\/\/www.bnreport.com\/argo-aims-to-become-first-main-market-listed-crypto-miner\/"},"modified":"2018-06-09T13:25:44","modified_gmt":"2018-06-09T13:25:44","slug":"argo-aims-to-become-first-main-market-listed-crypto-miner","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/argo-aims-to-become-first-main-market-listed-crypto-miner\/","title":{"rendered":"Argo aims to become first main market-listed crypto-miner"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.cityam.com\/assets\/uploads\/main-image\/full_width_article_body_image\/canada-economy-computer-mining-bitcoins-934468654-5b1bac450abd8.jpg\"\/><\/p>\n<p>Argo has announced that it intends to become the first crypto-miner listed on the London Stock Exchange and will launch a service which makes mining easier for clients.<\/p>\n<p>The originally Canada-based company, which has now launched in the UK, seeks to capitalise on the recent surge in demand for crypto-mining by launching the subscription-based service which it claims will make cryptocurrencies more easy to use.<\/p>\n<p>Jonathan Bixby, one of the co-founders of Argo, said: \u201cWe 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.\u201d<\/p>\n<p>The company was established this year and it is Bixby and fellow founder Mike Edwards first dabble in crypto-mining although they both have a background in technology.<\/p>\n<p>It has already received permission from the UK Listing Authority to list on London Stock Exchange&#039;s main market in an effort to raise cash for its projects.<\/p>\n<p><strong>Read more<\/strong>: <a href=\"http:\/\/www.cityam.com\/287242\/survey-finds-71-per-cent-uk-public-would-not-use-cryptos\" rel=\"noreferrer\" target=\"_blank\">Survey finds 71 per cent of UK public would not use cryptocurrencies<\/a><\/p>\n<p>The company will charge users $25 (\u00a318) per month to give them access to its so-called &#039;mining rigs&#039; through either the app or its website, which allows them to mine four cryptocurrencies: bitcoin gold, ethereum, ethereum classic and Zcash.<\/p>\n<p>Edwards said: \u201cSetting 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.\u201d<\/p>\n<p>Crypto-mining involves having computers solve complex mathematical problems which, upon completion of a problem, is rewarded with digital coins.<\/p>\n<p>However, the process requires the right equipment and software which consumes enormous amounts of electricity.<\/p>\n<p>The mining process has been criticised for being damaging to the environment with a study by Alex de Vries finding that bitcoin mining alone could use as much power as the entire country of Austria by the end of the year.<\/p>\n<p>On Thursday, Canadian state-owned power company Hydro-Quebec announced that it would halt energy approvals for crypto-miners as the consumption was so large there was a risk of the province not being adequately supplied with energy.<\/p>\n<p><strong>Read more<\/strong>: <a href=\"http:\/\/www.cityam.com\/287229\/quebec-halts-energy-approvals-crypto-miners-after-surge\" rel=\"noreferrer\" target=\"_blank\">Quebec halts energy approvals for crypto miners after surge in applications<\/a><\/p>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\/\" rel=\"noreferrer\" target=\"_blank\"><\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\" rel=\"noreferrer\" target=\"_blank\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Argo has announced that it intends to become the first crypt..<\/p>\n","protected":false},"author":1,"featured_media":81719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-81718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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