Argo Blockchain (ARB) continues its investment into new cryptomining hardware, revealing that the number of total machines in production reached 7000 on Monday.
The enterprise-scale cryptominer said that 500 new Bitmain S17 Antminer machines were brought onstream last week.
Argo Blockchain told investors it aims to install about 17,000 machines by the end of Q1 2020.
Shares in Argo Blockchain ticked up 0.88% to 6.9p during early Monday trading
It announced that 1026 of its machines that started production in May achieved 100% payback on their investment.
Mike Edwards, Executive Chairman of Argo, commented: "Our strategy to make a major investment in new mining hardware this year continues to deliver strong returns.”
He added: “We are also confident that the ongoing expansion of our mining infrastructure will deliver returns in line with our expectations and create long-term value for shareholders."
Argo said that 10,000 machines are on order and expected to be delivered in batches in December.
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