Argo reduced BTC-mining by a quarter

  • Elena Klimovich
  • 15:07 Jun 09, 2022
Argo reduced BTC-mining by a quarter

During the last month the company mined only 124 BTC, which is 25.3% less than the result of the previous month. According to the provided explanations, the reason is the increase in the complexity of the network. On April 27 it rose by 5.56% and on May 11 – by 4.89%. However, the last increase was followed by a decline of 4.33%.

The head of Argo Peter Wall said that such a significant gap can be explained by "essentially luck" of the Terra pool. He explained that miners at other pools get paid based on hashing rate, while Argo pays by the block. He said that the company has a lot of risks and there were long periods when it did not block much.

Peter Wall admitted that he is reviewing his relationship with Terra Pool and intends to be paid in BTC on a regular basis.

In addition, the head of the company admitted a number of other factors. For example, the hot weather in Texas and the need to fix equipment, which also caused the decline in cryptocurrency mining.

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