Argo Blockchain Acquires 750 Antminer Z11 Devices

Argo Blockchain Acquires 750 Antminer Z11 Devices For Zcash Mining

In its report to the London Stock Exchange (LSE), Argo management indicated that the equipment is already installed and operating at full capacity. Bitmain's Antminer Z11 devices are designed for mining cryptocurrencies based on the Equihash algorithm, in particular for mining Zcash.

Argo already has 1,000 Antminer Z11 devices at its disposal, which the company acquired back in May 2019, becoming one of the largest Zcash miners. According to the firm, Argo currently accounts for about 3.5% of Zcash hashrate, and with the purchase of additional devices, this figure could increase to 6%.

At the same time, the main activity of Argo is bitcoin mining. In May, the company's management announced that it owns 18,000 devices for mining, 17,000 of which are focused on working with the SHA-256 algorithm to mine the first cryptocurrency. In Q1 2020, Argo Blockchain mined a record number of bitcoins - 918 coins.

“It is necessary to continue investing in the mining infrastructure, regardless of the circumstances. We are pleased with the result of working with Antminer Z11, so we decided to expand our mining resources to work with the Equihash algorithm. We are confident that this is the right strategy, ”said Argo CEO Peter Wall.

FC Barcelona token capitalization exceeded $ 1.3 million

The club's management has put up a little over 600,000 tokens for sale at a fixed price of $ 2.25. Within two hours, the entire supply of tokens was sold out, and trading between users began. Tokens worth $ 777,000 were sold out in just 2 minutes. Users from 106 countries participated in the purchase of tokens.

Over the past 24 hours, the CHZ / BAR trading volume on the Chiliz platform totaled $ 2.5 million. The pair ranked second in terms of trading volume after the most popular BTC / USDT pair.

Interestingly, after the start of trading, the BAR token rate soared by 420% - up to $ 12.05. However, it then rolled back 50% and now each Barcelona fan token is worth $ 6.25.

BAR tokens allow holders to participate in polls and polls that affect football clubs. They also provide the opportunity to receive special rewards, such as tickets to the VIP areas for the team's matches and meetings with Barcelona players. A vote is now underway on which fan art to display in the club's dressing room at the home stadium.

Chamat Palihapitiya: "bitcoin rate will skyrocket in case of a major crisis"

During the Unchained podcast, Chamath Palihapitiya stated that prudent people need something like bitcoin as insurance, as cryptocurrencies "do not fundamentally correlate with traditional assets." Bitcoin can act as insurance against bad government decisions.

But, the billionaire made a reservation, even if the government makes bad decisions and the bitcoin rate is growing at a fast pace, this is bad - it means the economic crisis will hit the entire state, your friends and family.

“If your bet on bitcoin plays out, then there is a global crisis. And it will have huge implications for many people we know and worry about who have not hedged their risks with Bitcoin. And you almost do not want this to happen, ”Palikhpapitiya noted.

More than 77% of Ethereum coins on external accounts have not moved in six months

More than 77% of all ETH held in external account holders have not moved in the past six months. This is evidenced by data from Glassnode.

According to the service, the vast majority of investors have not sold their assets for a long time. In particular, 77.7% of the coins did not move for six months, 57.6% remained intact for a whole year, and 31.6% were in accounts for two years.

The impressive volume of fixed funds indicates that the majority of investors adhere to long-term plans for the second largest cryptocurrency by capitalization. Over the past six months, the price of ETH has grown by almost $ 100, but this did not become a reason for massive sales in order to fix profits.

Bitcoin holders follow similar tactics. According to Glassnode, 42.8% of all BTC have not moved in two years. This is 10.4% more than a year earlier.

Externally owned accounts (EOA), unlike contract addresses, are managed using private keys. The owners of these accounts can transfer ETH at any time, while the use of other addresses may be limited by the terms of the smart contract.