Blockchain PLC, Argo Makes 300% Profit.

Blockchain PLC, Argo Makes 300% Profit.
Report has it that a bitcoin stock listed on the London Stock Exchange has soared by 300 percent to hit its 11-month high.
Argo, UK based Blockchain PLC records the latest surge which surfaced out of strategic investments. Argo purchased 1,000 Bitmain Z11 Antminer machines in April 2019. They went into production a month later and, as of today, had delivered a 100 percent payback on Argo’s investments.

Argo stated in its press release that following the space of 5 months when 1,000 Bitmain Z11 Antminer machines were purchased and the space of about 3 months when they went into production, total returns have been recorded to be 200%.

The declared Argo profits are said to be in coincidental alignment with the rise in bitcoin price which has risen up to 175% on a year-to-date basis.

As of July, Argo’s existing rigs mined a total of 163 bitcoins. On each unit, the company made an 80 percent profit. Argo called it its best performance, noting that it made their mining operations the most fruitful across the world.

Notably, barely a month after Argo announced its plans to install 7,000 more state of the art mining machines in Quebec, Canada's facility, the executive chairman sent a statement.

“Our decision to move fast with a major expansion of mining infrastructure is reaping strong returns much earlier than expected,” stated Mike. “I am confident this strategy will continue to pay off long-term.”
Mike Edwards, the executive chairman of Argo, said their company is now planning to expand its operations further, believing favorable market sentiments would continue to return higher profits in the future.