Sell-Side Trims Targets for Bitcoin Miner Argo Blockchain

Bitcoin Miner Argo Cuts Year-End Hashrate View Citing Delayed Intel Mining Rigs

Argo expects to sign a fixed-price power purchasing agreement in the next couple of months, which will both stabilize its electricity spending and allow it to sell power back to the grid, along with other peers, Wall said. The company continues to target a long term power rate of about $2.5 cents per kilowatt hour (kWh) in Texas, where their biggest mine is. The Jefferies team isn’t so sure, expecting power to cost $3.75 cents per kWh across Argo’s portfolio in the fourth quarter of this year and into 2023.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.