Bitcoin Miner Argo Blockchain Purchases Hydro-Powered Data Centers in Canada

The two facilities are powered almost entirely by hydroelectricity, the firm said.

May 13, 2021 at 12:59 p.m. UTC
Updated Sep 14, 2021 at 12:55 p.m. UTC

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.

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