The CEO of Argos wants to become the "Amazon Web Services of crypto" by ‘democratizing’ the crypto-mining process. As he points out, more than 90% of crypto-mining is done by elites on industrial scale because it is technically very difficult to do.
It hopes to emulate the rapid growth of Genesis Mining, the Icelandic company that launched a similar service three years ago and now has 2m users. The Reykjavik-based company charges from $179 to $3,975 for a three-year contract and has a six- to eight-month waiting list. Since raising $2.5m from private investors in January, Argo has been rushing to launch its IPO to beat similar rivals, such as Hydrominer. The Austrian cryptocurrency miner is rumoured to be planning a UK listing.