Crypto mining firm Argo Blockchain has agreed to buy 20,000 mining machines for the data center it is building in West Texas.
- The Bitmain Antminer S19J Pro machines will increase London-based Argo’s hashrate, a measure of computing power, by more than 2 exahash to a total of 3.7 exahash by the end of third quarter of next year, the company announced Thursday.
- The deposit for the order is being funded by Argo’s cash reserves. The company declined to give a value for the order.
- The machines will be dispatched to the West Texas data center starting in the second quarter next year.
- Argo completed the land purchase for the new data center in March.
UPDATE (SEPT 30, 10:21 UTC): Adds Argo declines to give value of order.
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.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.