Wounded BTC Miner charges Trading Repressions in China

Constant repressions on bitcoin trading in mainland China has led to a Taiwanese bitcoin miner in being shot by local bandits
16 April 2018   1646

According to Liberty Times` report (Taiwanese news source), the incident happened  on Saturday night, when two local killers had planned to meet a bitcoin miner with whom they had made a substantial investment.

The miner who has the surname Wu, had preliminary accepted 10 million Chinese yuan (approximately $1.7 million) from the two - surnamed Li and Gao - in order to take part Wu's bitcoin mining procedure. While the exact whereabouts of the mining facility remains unknown, the report hinted that the provision could be inside mainland China.

With nearly $370,000 of benefit, Wu declared in the report that due to pressuring  regulations on bitcoin trading in China, the income could not be exchanged at once for fiat currency, as per the two gangsters' demands - a factor that sparked a dispute at the appointment.

With the further development of things, Wu was shot in his ankle. The gangsters left  the crime location, but found themselves into the police seven hours later this incident. The police then affirmed the suspects were from local gangs.

While not the first occasion of a crime related to bitcoin in Taiwan, the case is definitely notable for the involvement of participants in organized  misdeed. The news also reveals another incident where the surging price of bitcoin over the past year has led to crimes involving armed aggressors. For example, the two events in Canada and the U.K. in January, when the thieves robbed bitcoin investors at gunpoint.

Also last week, Singapore's police reported about a case in which bitcoin brokers were stealed of some $300,000.

Argo to Report on Mining Profitability Increase in Q2

It was also reported that by the end of June, company owns about £ 3 million in crypto assets, which is 7.7% higher than expected
03 July 2019   239

The British mining company Argo Blockchain published a financial report for the second quarter of 2019, according to which its revenues increased significantly in the second quarter, exceeding its own expectations.

So, in comparison with the previous report, published in early June, the income from mining Argo Blockchain increased by 24%. The increase in profitability from mining at the same time turned out to be proportional to the increase in the Bitcoin price observed during the recent period.

The Company now expects to generate 161 BTC, or GBP1.38m of cryptoassets, in June based on a BTC price of $10,817.16 USD as of 30 June 2019. This is an increase of approximately 101% from the Company's May mining results and represents a mining margin of roughly 81%. The Company considers that this demonstrates that the Company is one of the most efficient miners in the market.
 

Argo Blockchain Team

Argo Blockchain also said that as of the end of June, the company owns about £ 3 million in cryptocurrency assets, which is 7.7% higher than expected.

Also Argo Blockchain intends to expand its activities. In particular, the company plans to deploy another 2500 miners in Quebec by the end of the third quarter, which is also expected to significantly increase revenues.

Our better-than-expected mining performance reflects both improving industry conditions as well as Argo's business strategy, which has enabled it to rapidly ramp up operations and thereby take full advantage of the upturn. As a result, we enter the third quarter with a strong momentum to deliver further growth and improving mining efficiency.
 

Mike Edwards

Executive chairman, Argo

It should be noted Argo Blockchain was the first cryptocurrency company, the placement of shares of which was approved by the London Stock Exchange last June.