A big shakeup at Argo Blockchain, the beleaguered bitcoin mining company that owns Argo Mining, has revealed that a Rothschild-linked London oil tycoon with a shadowy past just did the cannonball dive into the deep end of the crypto mining pool.
As if you needed any more evidence that bitcoin has found the bottom of its year-plus-long bear slump, with the foundations already laid for a massive bitcoin bull run in 2019!
Bitcoin Mining Firm Fires Top Brass, Onboards Oil Barron
Frank Timiș, a 56-year-old Romanian-Australian businessman worth over $2 billion with deep interests in oil and gold mining, was revealed as a part owner of Argo Mining after a company shakeup that led to the ouster of two top Argo executives.
The company also announced a massive overhaul of its entire business plan earlier this year. Rising costs and the long crypto winter rendered Argo Blockchain’s previous cash flow model unprofitable.
With Frank Timiș – who now owns a controlling 14% stake in the bitcoin mining firm, at the helm – Argo has moved on from subletting hash rate and invested in its own mining rigs.
Institutional Adoption? Frank Timis Has Ties to Rothschild Bank
Frank Timiș has ties to Rothschild Bank. That’s about as institutional as it comes. | Source: Shutterstock
The financial establishment has been looking at cryptocurrency and the disruptive power it holds with eyes wide open for some time now. 2018 was a year of unprecedented institutional interest in bitcoin and other digital assets.