Thursday, June 1, 2023
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
BitScoop
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT
CRYPTO MARKETCAP
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT
CRYPTO MARKETCAP
BitScoop
No Result
View All Result
Home Bitcoin

Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

by BitScoop
March 7, 2023
in Bitcoin
Reading Time: 3 mins read
A A
0
Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth
Share on FacebookShare on Twitter

[ad_1]

The crypto market remains in the bear zone, even after several months. In the last week, major coins, such as Bitcoin and Ethereum have seen a decline; for now, it’s impossible to determine the outcome in the nearest future.

But certain firms are still thriving amid the current state of the market. A notable example is Argo, a popular UK-based Bitcoin mining company. Argo Blockchain is one of the leading cryptocurrency mining companies in North America and Europe.

Argo Increases Bitcoin Production

On Tuesday, Argo announced an increase in its Bitcoin production despite the increased difficulty when it comes to mining the coin. The company reported producing 162 BTC in February, a 7% daily increase from the previous month.

According to Argo, this increase in production results from the company’s efforts to optimize its mining operations and improve efficiency. Argo powers its mining facilities through renewable energy, which enables the company to reduce its carbon footprint and achieve sustainable growth.

The news of Argo’s increased production comes when the BTC market is experiencing a price decline, with the cryptocurrency currently trading at $22,352, as per data from Tradingview.com.

Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth
BTC trades at $22,352 on the chart l BTCUSDT on Tradingview.com

Data On Bitcoin Mining

The difficulty in mining BTC refers to the time or measure required to create a single block. The higher the difficulty, the more computing power or hash rate is needed to validate transactions and generate new tokens.

Bitcoinist previously revealed that the difficulty in mining Bitcoin has risen, especially in February 2023. Based on the report, February marked a new all-time high of BTC mining difficulty above 43 terahases per second.

But the industry is doing enough to control the situation, and in light of this, it is creating a BTC difficulty adjustment system, which it will deploy on March 10, 2023. This move is necessary to stop the anticipated figure of the next difficulty rate of 43.4 TH/s, according to data from Bitcoin.com.

Related Reading: Silvergate Halts Crypto Payments After Suffering $1 Billion Loss

Furthermore, other firms, aside from Argo, are also thriving in the heat of the Bitcoin mining difficulty rate rise. A few examples are Marathon Digital and Cipher Mining. According to a report, Marathon Digital saw its BTC production surge by about 10% in February. Cipher Mining’s Bitcoin production has also increased by 16% compared to its production in January.

Despite the challenges posed by the increasing difficulty of mining Bitcoin, Argo’s success and that of the firms mentioned above reveals the companies’ resilience and ability to adapt and innovate in the face of changing market conditions.

Meanwhile, as the cryptocurrency market continues to evolve, Argo looks well-positioned to remain a significant player in the mining industry, contributing to the growth of the broader crypto ecosystem.

Featured image from Pixabay and chart from Tradingview.com

[ad_2]

Source link

Related articles

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

March 7, 2023
Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC

Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC

March 7, 2023
Tags: altcoinsArgoBitcoinbitcoin pricebitcoin updatesbitscoopblockchaincontinuescrypto newscrypto updatesDifficultygrowthIncreaselatest bitcoin newsminingOutpacing
Share78Tweet49
Previous Post

A Dozen Reasons Why the SEC Should Have Approved Grayscale’s Spot Bitcoin ETF

Next Post

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Related Posts

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

by BitScoop
March 7, 2023
0

Crypto wallets safeguard your private keys, which are required to validate any cryptocurrency transactions broadcast to a blockchain network. Before...

Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC

Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC

by BitScoop
March 7, 2023
0

DC Circuit judges hammered the SEC’s lawyers as they defended their decision to not approve Grayscale’s move toward a spot...

BTC, ETH Stall Ahead of Powell Testimony – Market Updates Bitcoin News

BTC, ETH Stall Ahead of Powell Testimony – Market Updates Bitcoin News

by BitScoop
March 7, 2023
0

Bitcoin remained in consolidation earlier in Tuesday’s session, as markets prepared for this afternoon’s testimony from Fed Chair Powell. The...

Investment Firm Republic Purchases 10M Astra Protocol Tokens in New Deal

Investment Firm Republic Purchases 10M Astra Protocol Tokens in New Deal

by BitScoop
March 7, 2023
0

“The events of the last year have made it clear that legitimate crypto and DeFi projects with a long-term strategy...

Bybit, Mastercard Launch Crypto Debit Card Following Suspension Of USD Transfers

Bybit, Mastercard Launch Crypto Debit Card Following Suspension Of USD Transfers

by BitScoop
March 7, 2023
0

Bybit has introduced a debit card that can be used on the Mastercard network and would deduct cryptocurrency holdings from...

Load More
Next Post
Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

March 7, 2023
Crypto Projects Are Taking Advantage of Shibarium Hype, Warns Lead Shiba Inu Developer

Crypto Projects Are Taking Advantage of Shibarium Hype, Warns Lead Shiba Inu Developer

March 7, 2023
Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

March 7, 2023
Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

March 7, 2023
The 2023 Guide to Avalanche’s Fuji Testnet & Avalanche Faucets

The 2023 Guide to Avalanche’s Fuji Testnet & Avalanche Faucets

January 10, 2023
How to Pay a BitPay Invoice with Polygon

How to Pay a BitPay Invoice with Polygon

November 8, 2022
Crypto Projects Are Taking Advantage of Shibarium Hype, Warns Lead Shiba Inu Developer

Crypto Projects Are Taking Advantage of Shibarium Hype, Warns Lead Shiba Inu Developer

March 7, 2023
Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

Hut 8’s BTC Production Dips 17% in February, Plans Sale to Fund Operations

March 7, 2023
Guide to Using Multisig Wallets to Secure Your Crypto [2023]

Guide to Using Multisig Wallets to Secure Your Crypto [2023]

March 7, 2023
Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

Argo Blockchain Continues To Increase Bitcoin Mining, Outpacing Difficulty Growth

March 7, 2023
A Dozen Reasons Why the SEC Should Have Approved Grayscale’s Spot Bitcoin ETF

A Dozen Reasons Why the SEC Should Have Approved Grayscale’s Spot Bitcoin ETF

March 7, 2023
Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC

Judges Consider Grayscale’s Arguments In Bitcoin ETF Hearing Against SEC

March 7, 2023
Facebook Twitter LinkedIn Tumblr
BitScoop

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Bitscoop

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Bitscoop.
Bitscoop is not responsible for the content of external sites.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • METAVERSE
  • WEB3
  • ANALYSIS
  • REGULATIONS
  • SCAM ALERT

Copyright © 2022 - Bitscoop.
Bitscoop is not responsible for the content of external sites.