Argo Blockchain’s Texas mining facility might value as much as $2B
United Kingdom-based crypto mining firm Argo Blockchain’s plans to construct an 800-megawatt information heart in West Texas might value anyplace from $1.5 billion to $2 billion.
According to a Friday regulatory submitting from Argo, the $2 billion value estimate for the Helios mining facility constructed on a 320-acre land plot in Texas was based on “the type of mining machines to be installed in the facility, the mix of owned and hosted machines, the cost of raw materials, labor and power required to construct the facility, the timing of build-out and machine purchase, and other factors.” However, the agency added that this was solely an estimate and “future results could differ materially.”
Argo broke floor on the 200 MW crypto mining facility primarily based in Dickens County in July, reporting the location will give the corporate “access to up to 800 MW of electrical power” for its future operations. Though the mining heart doesn’t have a roof but, the plot of land alone will value Argo $17.5 million. The firm plans to have the power up and working by mid-2022.
Things are transferring shortly in Texas https://t.co/ZQzyeK2e9Y
— Peter Wall (@PeterGWall) November 4, 2021
Peter Wall, the CEO of Argo, has cited Texas’ low-cost renewable vitality in addition to its openness to innovation in new applied sciences as a part of the explanation for the development of the info heart. As of August, the corporate claimed that its crypto operations had develop into “climate positive” for some classifications of greenhouse fuel emissions, a part of its plan to finally develop into carbon impartial.
Related: Bitcoin mining possible did not contribute to Texas’ energy outages, says skilled
Many Bitcoin (BTC) miners have arrange store in Texas as China continues to crack down on mining operations and the state stands out for its low-cost electrical energy and seemingly crypto-friendly rules. The state is presently dwelling to Blockcap, Riot Blockchain and others.