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Bitcoin Miner Argo Blockchain Purchases Hydro-Powered Data Centers in Canada
The two facilities are powered almost entirely by hydroelectricity, the firm said.
Updated May 9, 2023, 3:19 a.m. Published May 13, 2021, 12:59 p.m.
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.”
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- 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.
See also: Argo Blockchain, DMG to Launch Clean Energy Bitcoin Mining Pool
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