(Alliance News) - Argo Blockchain PLC shares jumped on Friday after it announced a "strategic hosting services agreement" with an undisclosed third party.
Shares in the London-based blockchain technology company were trading 13% higher at 39.00 pence each in London on Friday midday.
According to the new agreement, Argo will host and operate mining machines owned by the third party at Argo's Helios facility in Texas.
Included in the agreement is a profit-sharing arrangement whereby Argo receives 25% of the net profits generated from the bitcoin mined by the third party's mining machines.
Argo also posted an operational update for August. During August, Argo mined 235 bitcoin or bitcoin equivalents compared to 219 in July. This, the company said, was primarily due to an increase in total hashrate capacity at the Helios facility.
The hashrate refers to the total combined computational power that is being used to mine and process transactions.
Based on exchange rates and cryptocurrency...
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