Argo Blockchain purchased miners for mining Zcash for almost $ 500 thousand

25.06.2020

Karolina Salinger

British miningArgo Blockchain significantly increased its own resources for the production of privacy-oriented cryptocurrency Zcash. This is evidenced by the documents of the London Stock Exchange.

The company purchased 750 Antminer Z11 miners from Bitmain for $474 thousand. Before this, Argo Blockchain had 1,000 devices.

The new equipment has already been launched and is operating at full capacity2, the documents say.

Pay back investments in Argo Blockchain expect in eight months.

Antminer Z11 is aimed at mining cryptocurrencies based on the Equihash algorithm, the most famous of them — Zcash.

Argo Blockchain claims that the company accounts for approximately 3.5% of Zcash's computing power.

Recall mainly Argo Blockchainspecializes in mining bitcoins. In May, the company owned 18 thousand miners, 17 thousand of which work with the SHA-256 algorithm. In the first quarter of 2020, the company mined a record number of bitcoins.