{"id":36198,"date":"2021-02-10T15:51:54","date_gmt":"2021-02-10T13:51:54","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36198"},"modified":"2025-08-29T05:08:15","modified_gmt":"2025-08-29T02:08:15","slug":"argo-blockchain-to-build-a-mining-centre-in-texas","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/argo-blockchain-to-build-a-mining-centre-in-texas\/","title":{"rendered":"Argo Blockchain to Build a Mining Centre in Texas"},"content":{"rendered":"<p>The London Stock Exchange-listed mining company Argo Blockchain announced plans to buy land in Texas for the construction of a new data centre for Bitcoin mining.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">1\/ New RNS release:<\/p>\n<p>Argo is pleased to announce it has entered into a non-binding LOI with DPN LLC to acquire 320 acres of land in West Texas with access for up to 800mw of power where Argo intends to build a 200mw mining facility in the next 12 months. <a href=\"https:\/\/twitter.com\/hashtag\/ARB?src=hash&#038;ref_src=twsrc%5Etfw\">#ARB<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ARBKF&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ARBKF<\/a><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a><\/p>\n<p>\u2014 Argo (@ArgoBlockchain) <a href=\"https:\/\/twitter.com\/ArgoBlockchain\/status\/1359396780799119360?ref_src=twsrc%5Etfw\">February 10, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The company signed a letter of intent with the New York-based firm DPN. The document is formal and does not bind the parties to anything.<\/p>\n<p>Argo Blockchain plans to acquire 320 acres (129.5 hectares) in West Texas with access to 800 MW of electricity. The area is roughly equivalent to about 185 football pitches.<\/p>\n<p>The deal value will be $17.5 million, subject to the signing of the agreement. Argo Blockchain will issue new shares to DPN worth $5 million, with the remaining $12.5 million to be paid in installments as the contract&#8217;s obligations are fulfilled.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">3\/<br \/>\nSubject to entering into a definitive agreement and the satisfaction of related conditions, the overall price of this acquisition will be US$17.5M to be satisfied by the issue and allotment of new ordinary shares in Argo. <a href=\"https:\/\/twitter.com\/hashtag\/ARB?src=hash&#038;ref_src=twsrc%5Etfw\">#ARB<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ARBKF&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ARBKF<\/a><a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\">#BTC<\/a><\/p>\n<p>\u2014 Argo (@ArgoBlockchain) <a href=\"https:\/\/twitter.com\/ArgoBlockchain\/status\/1359396792668983302?ref_src=twsrc%5Etfw\">February 10, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Over the course of the year, the mining company intends to build a 200 MW data centre on the new site. As part of the project, Argo Blockchain will secure a $100 million credit facility.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p dir=\"ltr\" lang=\"en\">4\/<br \/>\nAs part of this project, Argo will also gain access to a pre-negotiated US$100 million credit facility at competitive rates. This will provide sufficient capital to build out the facility and further expand our mining fleet.<a href=\"https:\/\/twitter.com\/hashtag\/ARB?src=hash&#038;ref_src=twsrc%5Etfw\">#ARB<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ARBKF&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ARBKF<\/a><\/p>\n<p>\u2014 Argo (@ArgoBlockchain) <a href=\"https:\/\/twitter.com\/ArgoBlockchain\/status\/1359396795223330816?ref_src=twsrc%5Etfw\">February 10, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In 2019, Bitmain completed the construction of a mining centre with a capacity of 50 MW in Texas.<\/p>\n<p>In the same year, the German company Northern Bitcoin agreed to merge with Whinstone US, which was building a Bitcoin farm spanning 57 football pitches in an American state.<\/p>\n<p>In October 2020, Arcane Research noted <a href=\"https:\/\/u1f987.com\/en\/news\/arcane-research-chinas-dominance-in-bitcoin-mining-is-steadily-shrinking\">the growing share<\/a> of US-based miners in Bitcoin&#8217;s hashrate.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The London Stock Exchange-listed mining company Argo Blockchain announced plans to buy land in Texas for the construction of a new data centre for Bitcoin mining.<\/p>\n","protected":false},"author":1,"featured_media":36199,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1182,1137,26],"class_list":["post-36198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-argo-blockchain","tag-cryptocurrency-mining","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36198"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36198\/revisions"}],"predecessor-version":[{"id":36200,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36198\/revisions\/36200"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36199"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}