Crypto Mining Service Argo to Float on London Stock Exchange

June 14, 2018         By: Steven Anderson

For those not familiar, a crypto mining service is a company that basically leases out computer time for use in mining cryptocurrency. Miners handle different currencies and charge different rates therein, but once you’ve bought a bit of time, you can rack up cryptocurrency quietly in the background. A new joint venture between United Kingdom and Canadian elements known as Argo is one of the newest such miners on the scene, and it’s recently tipped us off about a connection with the London Stock Exchange to raise some cash for growth.

Argo’s going after potential crypto miners who were interested in mining cryptocurrency, but either couldn’t get in with the other cloud miners or were put off by the comparative difficulty and high up-front cost of having the necessary hardware on hand to mine at home.

Fees are almost surprisingly reasonable; there are several pricing plans, starting as low as $25 US a month. You’ll be able to mine one of four different currencies–Ethereum, Ethereum Classic, Bitcoin Gold, and Zcash–and miners pay their contracts on a recurring monthly basis.

Co-founder Mike Edwards noted “Setting up a computer rig to mine cryptocurrency is challenging, inefficient and expensive. I knew that we had to change the game and democratize the process so that crypto-mining could become a mainstream consumer activity.”

Right now, Argo packages are already sold out, so you’ll need to keep an eye on the site if you’re interested in getting in with Argo. The problem is that they’re right; I actually started running numbers on the costs and such related to crypto mining, and the general consensus seemed to be “don’t.” At least, for the major cryptocurrencies; bitcoin is almost completely mined out. As of January, 80 percent of all coins had been mined, and that means by now we’re even closer to peak mining. A system like Argo, if it can be trusted—reports suggest many crypto mining operations are actually scams—could be just the way to get the average person into cryptocurrency.

It’s all a part of the process that takes us from random curiosity to mainstream, and it’s a process that may reach its conclusion sooner than some expect.