Argo Blockchain, a U.K.-listed cryptocurrency mining company, has purchased two data centers in the Canadian province of Quebec to support its “green mining vision.”
- The data centers, with a combined 20 megawatts, are powered almost entirely by hydroelectric energy, Argo said Thursday.
- The centers already house a "significant proportion" of the firm's mining equipment.
- The purchase gives Argo greater control over the facilities in which it conducts its operations, it said.
- Detailed terms of the mostly non-cash acquisition were not disclosed, but consisted mainly of the assumption of existing bank obligations and the application of a previously paid deposit.
- In March, Argo acquired land in Texas for the construction of a new mining center by buying New York firm DPN.
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.