Cloud mining company Blockchain cuts losses, seeks new funding

Bitcoin miners pressured to promote extra than it mined in a month in a bid to live afloat. By October, its percentage charge had plunged with the aid of using 40% and it referred to as off a plan to raise $27 million.

The crumble of Argos become simply one in every of many setbacks for the cryptocurrency enterprise during the last few months that has left traders questioning whether or not they need to maintain making an investment in mining businesses or different virtual currencies.

The wide variety of cryptocurrencies to be had for alternate on exchanges has multiplied from approximately 70 on the begin to approximately 1,800 today. But there are symptoms and symptoms that traders are dropping self belief in a few tasks as costs fall and their potentialities appearance bleaker.

In February this year, LydianCoin issued an assertion pronouncing it might droop buying and selling after locating itself in economic problems because of multiplied opposition from rival cryptocurrencies together with Ethereum and Litecoin.