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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.