Argo Blockchain to Build Intel-Based Bitcoin Mining Rigs With ePIC Blockchain

Argo Blockchain to Build Intel-Based Bitcoin Mining Rigs With ePIC Blockchain

Argo Blockchain (LSE: ARB) will work with ePIC Blockchain, a Canadian blockchain {hardware} producer, to design and construct crypto mining rigs utilizing Intel’s new second-generation bitcoin mining chips, Argo mentioned Tuesday.

The announcement comes as Argo’s inventory has been sliding on the London Inventory Alternate over the previous six months, with different publicly-traded miners experiencing an identical downturn as bitcoin has declined sharply in worth and margins have tightened. Regardless that Argo upgraded its hashrate outlook for the 12 months in April, it noticed a 25% drop in bitcoin mined in Might.

The ePIC partnership is an extension of a 2021 deal wherein Argo Blockchain agreed to purchase $8 million value of ePIC’s mining rigs, CEO Peter Wall mentioned in a taped message posted on Argo’s YouTube channel on Tuesday.

Wall in contrast constructing customized mining machines to purchasing a Dell pc versus an Apple Macbook, saying it is cheaper on a greenback per terahash foundation and permits Argo to have granular management of the rigs.

“It is a recreation changer,” the CEO mentioned within the video.

Intel’s mining semiconductors might break an efficient duopoly on the mining rig market wherein two producers – Bitmain and MicroBT – reign supreme.

Block (SQ), Griid Infrastructure and Hive Blockchain (HIVE) are set to be the primary prospects for Intel’s new mining chips.

Learn extra: Crypto Miner Hive Blockchain Promoting Ether to Pay for Intel Mining Rigs

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