Expert verified

5 min read

Block Hires Former Argo CTO To Develop Bitcoin Mining Division

Published date:

February 2, 2026

Our Editorial Standards:

Cryptocurrencies can be volatile and high risk. Though our articles are for informational purposes only, they are written in accordance with the latest guidelines from tax agencies around the world and reviewed by certified tax professionals before publication. Learn more about our Editorial Process and Risk Warning.

Block Inc. has employed the services of Perry Hothi, the former chief technology officer at Argo Blockchain PLC. He was hired to assist in developing Block’s Bitcoin mining division.

A Bloomberg reporter, David Pan, made this known in a tweet.

SCOOP: Block Hires Ex-Argo CTO Perry Hothi to Advise on Developing Bitcoin Mining Division. pic.twitter.com/mLC9Hvzgtl
— David Pan (@DavidPan_1) October 25, 2022

The payment processing company, formerly Square, has been searching for veterans from crypto mining services companies to grow its mining division.

Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox

Block co-founder, Jack Dorsey, announced this in a tweet in October 2021. He stated that the company was looking to build a Bitcoin mining system based on custom silicon and open source for individuals and businesses.

Square is considering building a Bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide. If we do this, we’d follow our hardware wallet model: build in the open in collaboration with the community. First some thoughts and questions.
— jack (@jack) October 15, 2021

This led to the hiring of experts like Hothi. The former vice president of Poolin, Alejandro De La Torre, also joined Block in August.

Hothi will be in charge of advising the new unit. He will also create various initiatives, which include designing a Bitcoin mining rig, its integration within the wallet, and mining services for energy management.

The initiative will also aim to make the Bitcoin mining sector more decentralized.

This new move by Block is one of its latest effort to provide crypto-centric services. In addition to growing its Bitcoin mining division, it plans to develop its hardware Bitcoin wallet. Block partnered with Blockstream Corporation to build a Bitcoin mining facility with Tesla’s solar-powered battery in Texas.

How we reviewed this article

All Bitcompare articles go through a rigorous review process before publication. Learn more about our Editorial Process and Risk Warning.

Chiagoziem Bede Ikwueze

Written by:

Chiagoziem Bede Ikwueze

Writer

Chiagoziem has gathered a wealth of experience, having worked for many prominent crypto-based businesses, including Revain, Whiteboard Crypto, DeRev, The Crypto Cartel, Crypto News, MoneySwitch, Full Value Dan, and Bitcompare. Over the past couple of years, his works have been featured in many publications and places. When he is not writing, he spends time working on his other digital businesses, playing video games, reading books, watching movies, and most importantly, enjoying quality time with loved ones.

About the Author

Chiagoziem has gathered a wealth of experience, having worked for many prominent crypto-based businesses, including Revain, Whiteboard Crypto, DeRev, The Crypto Cartel, Crypto News, MoneySwitch, Full Value Dan, and Bitcompare. Over the past couple of years, his works have been featured in many publications and places. When he is not writing, he spends time working on his other digital businesses, playing video games, reading books, watching movies, and most importantly, enjoying quality time with loved ones.

About the Author

Radica Maneva

Reviewed by:

Radica Maneva

Senior Editor

Radica is a Senior Editor at Bitcompare. She has worked for more than a decade at leading publications as an Editor across various industries, including crypto and finance.

Bitcompare is a trading name of Blue Venture Studios Pty Ltd.

Advertiser disclosure: Bitcompare is a comparison engine that relies on advertising for funding. The business opportunities that can be found on this site are offered by companies with which Bitcompare has made deals. This relationship may affect the way and where products appear on the site, such as in what order they are listed in categories. Information about products may also be placed based on other factors, such as the ranking algorithms on our website. Bitcompare does not look at or list all companies or products on the market.
‍
Editorial disclosure: The editorial content on Bitcompare is not provided by any of the companies mentioned, and has not been reviewed, approved, or otherwise endorsed by any of these entities. The opinions expressed here are the author’s alone. Additionally, the opinions expressed by the commenters do not necessarily reflect those of Bitcompare or its staff. When you leave a comment on this site, it will not show up until a Bitcompare administrator approves it.

Warning: The price of digital assets can be volatile. The value of your investment can go down or up, and you may not get back the amount invested. You are the only one who is responsible for the money you invest, and Bitcompare is not responsible for any losses you might have. Any APR shown is a rough estimate of how much cryptocurrency you will earn in rewards over the time period you choose. It does not display the actual or predicted returns or yields in any fiat currency. The APR is adjusted daily, and the estimated rewards may differ from the actual rewards generated. The information on this page is not meant to be a sign from Bitcompare that the information is correct or reliable. Before making any investment, you should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult with an independent financial advisor. Links to third-party sites are not under the control of Bitcompare, and we are not responsible for the reliability or accuracy of such sites or their contents. For more information, see the Terms of Service for Bitcompare and our Risk Warning.