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).