Argo Blockchain buys 20,000 miners from Bitmain for the future Mining Center in Texas-Mining Bitcoin messages

Argo Blockchain, a cryptocurrency mining company based in London, has announced an expansion of its mining capacity, which will more than double the current hashrate. The expansion is carried out by the acquisition of 20,000 S19J Pro-Bitcoin miners from Bitmain, which are delivered in several installments. These miners will populate the facility that the company wants to build in Texas next year.

Argo Blockchain expands Hashrate

Argo Blockchain, a crypto mining company based in London, has announced the purchase of 20,000 mining machines for expansion of capacity. This is part of the planned company expansion according to West Texas, where a mega mining system is built. The mining machines are provided in successive rates by the Chinese manufacturer Bitmain.

This purchase contract will enable ARGO to more than double its current mining capacity and to bring it to 3.7 ExaHash for the third quarter of 2022, and relies on the future of Bitcoin as a network and profitable asset. While the amount of the initial deposit was not announced for the purchase, the company stated that it would be financed with barreserves.

Argo Blockchain quickly expanded its mining capacity. It was in February estimated that the company had 787 Petahash. Now the company estimates that this number has risen to 1.7 Exahash in less than a year.

Texas, a new Miner Mecca

It is not surprising that Argo Texas has selected as a new goal for his upcoming mega mining center. Texas was in the sights of miners this year as the goal for the settlement after the Chinese government had declared a ban on the mining of cryptocurrencies in several important provinces at the beginning of this year. The most important feature that Texas offers the miners are its relatively cheap electricity tariffs due to the configuration of its electricity market.

Texas has a deregulated energy industry with many players involved, which enables more competition, and the miners plan to use this in the future. In fact, Argo is only one of the mining companies that have announced plans for the construction of mining facilities in Texas. In April the mining company Blockcap announced It moved its headquarters to Texas in the middle of an ASIC purchase worth $ 75 million.

Riot Blockchain, another large cryptocurrency mining company, Whinstone, a running Bitcoin mining center, also bought in Texas for $ 650 million.

What do you think of the plans of Argo Blockchain to build a cryptocurrency-mining farm in Texas? Tell us in the comment area below.

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