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Home Latest News Business Listed Crypto Miner Argo Blockchain Now Pays CEO in Bitcoin

Listed Crypto Miner Argo Blockchain Now Pays CEO in Bitcoin

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

In a news release at the London Stock Exchange on Wednesday, the company stated that another staff is now also being offered the bitcoin salary option.

Argo said that the 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.

Wall stated:

“I’m … pleased to be the first publicly-traded company that we know of to have their CEO paid in bitcoin.”

The company also declared that 4,500 Bitmain Antminer S19 and S19 pro miners leased from Celsius Network in February are all now operational.

As reported by Coindesk, 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.

In February, the company mined 129 BTC or bitcoin equivalent, bringing in revenue of £4.34 million ($6 million).

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SourceCoinDesk

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