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Listed Crypto Miner Argo Blockchain Now Pays CEO in Bitcoin
The firm said it may be the first listed firm to pay its CEO in the cryptocurrency.
U.K.-listed cryptocurrency mining firm Argo Blockchain (LON: ARB) started paying the salary of its CEO, Peter Wall, in bitcoin this month.
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- In a news release at the London Stock Exchange Wednesday, the firm said other staff are now also being offered the bitcoin salary option.
- Monthly payments will automatically be converted from fiat currency to bitcoin at the daily market rate via the Bitcoin Savings service offered by the Toronto-based Satstreet exchange, said Argo.
- “I'm ... pleased to be the first publicly traded company that we know of to have [its] CEO paid in bitcoin," said Wall.
- The company also announced that 4,500 Bitmain Antminer S19 and S19 pro miners leased from Celsius Network in February are all now operational.
- That takes Argo's total mining capacity to 1,075 petahashes for bitcoin and other SHA-256 cryptocurrencies, and 280 megasols of capacity for cryptos based on the equihash algorithm.
- The company mined 129 BTC or bitcoin equivalent in February, bringing in revenue £4.34 million ($6 million).
Read more: Bitcoin Miner Argo Blockchain Starts Trading on the US OTCQX Best Market
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
