Argo Blockchain, one of the publicly traded mining companies in the US, founded Argo Labs earlier this year to take advantage of other opportunities of blockchain.
The company used Argo Labs for its non-mining investments.
Argo’s CEO, Peter Wall, spoke about his Terra investments during the company’s first quarter earnings release. Saying that we have not invested much in the Terra ecosystem, the CEO said that they have some USTs and that they earn staking and farming income in the Anchor protocol.
According to the company’s first quarter announcement, Algo Labs’ investment portfolio includes Polkadot (DOT), Ethereum (ETH), and Solana (SOL).
Cheap Ripped
Wall said that Argo was able to sell the USTs it held before the UST crash. Stating that they can sell all of their USTs for an average of 93 cents, the CEO said, “It’s a pretty good move considering the current situation of the price.”
“Argo was able to sell all of its USTs at an average of 93 cents before the price collapsed. Last time I checked, the price was around 12 cents, which is a pretty good move for us. When we put together the interest and farm incomes we receive from the Terra ecosystem, we are on par with our positions.”
The rest of the news is on Bitcoinsistemi.com.