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As blockchain technologies grow, so does its adoption rate. Agro blockchain, a global leader in Bitcoin mining, has started a non-mining business unit named Agro Labs to diversify the business. Agro Labs will be funded internally and will focus on non-mining projects related to blockchain technology. This extension might be an important opportunity to integrate cryptocurrency into the existing financial system, participate in this digital asset ecosystem, and ultimately change the world.
London based Agro blockchain is a publicly listed crypto miner primarily generating revenue by minting Bitcoin and zcash. The company is a global leader in cryptocurrency mining powered by clean energy.
Agro Labs will mainly focus on two areas: strategic diversification via the efficient deployment of the company's crypto treasury assets and network participation. Efficient deployment of the company's crypto treasury assets involves participating in decentralized finance (DeFi), NFT, and metaverse and providing support to early-stage projects. Network participation includes running nodes and validators, providing infrastructure support and staking in innovative projects. Although Agro Labs is still in its early stage and recently launched officially, a small team has already been working for about the last nine months.
Agro Labs aims to support the company's mining efforts by engaging with innovative and disruptive sectors of the crypto ecosystem. The company has allocated around 10% of its crypto assets to Agro Labs. According to Sebastien Chalus, chief strategy officer of Argo Blockchain, "this is a strategic diversification trying out other sides of the crypto ecosystem and building new applications". Through this diversification, Agro will not only gain exposure to digital assets they mine but also from other blockchain projects.
One of the reasons for this new launch is to be ready for the future of blockchain technology. There are going to be many trends and innovations in the coming years that will change the blockchain ecosystem, and beginning from now will make Agro future-ready.