IN BRIEF: Argo Blockchain Invests In Hashrate Management Firm Luxor

Argo Blockchain PLC - UK-based cryptocurrency miner - Will invest USD100,000 in Luxor ...

Alliance News 30 December, 2020 | 9:11PM
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Argo Blockchain PLC - UK-based cryptocurrency miner - Will invest USD100,000 in Luxor Technologies, co-leading an investment in the hashrate management platform. Luxor has mined more than USD45 million in cryptocurrency since inception and will use the seed funding round "to make several key engineering hires to strengthen the development of its hashrate management platform". Argo has been using Luxor's profit-switching platform for its Equihash hashrate since it was launched in 2020.

Argo Blockchain Chief Executive Peter Wall: "We are delighted to be a maiden investor in Luxor as it builds innovative and efficient services for cryptocurrency mining and hashrate products. Our investment reinforces Argo's commitment to be at the forefront of technological advances in our sector."

Current stock price: 34.00 pence

Year-to-date change: up from 5.60 pence at 2019 end

By Anna Farley; annafarley@alliancenews.com

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