U.K.-listed Argo Blockchain (ARB) has signed an agreement with ePIC Blockchain Technologies bringing it priority access to production runs of ASIC bitcoin mining machines for the next two years.

  • Announced Monday in a press release, Argo said the deal will also see the two firms work together to develop miners built to Argo’s specifications. 
  • Initially, Argo has agreed to purchase $8 million of Canada-based ePIC’s "state-of-the-art" ASICs, with delivery expected in early Q4, 2021. Deliveries for other batches will start on a larger scale in 2022. 
  • “This partnership will not only give Argo priority in accessing the most advanced mining infrastructure available, but it also highlights our reputation within the sector as an innovative and forward-thinking cryptocurrency miner,” said Peter Wall, chief executive of Argo Blockchain.
  • As it seeks to expand its mining operations, Argo this month signed a non-binding letter of intent with a New York-based firm to acquire 320 acres of land to build a 200-megawatt mining center.

Read more: Chinese Retailer Goes From Bubble Tea to Crypto Mining in Unlikely Pivot

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.