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.

Mar 3, 2021 at 10:17 a.m. UTC
Updated Sep 14, 2021 at 12:20 p.m. UTC

U.K.-listed cryptocurrency mining firm Argo Blockchain (LON: ARB) started paying the salary of its CEO, Peter Wall, in bitcoin this month.

  • 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).

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