{"id":196769,"date":"2021-03-08T15:07:00","date_gmt":"2021-03-08T12:07:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/argo-blockchain-buys-320-acre-land-plot-in-texas-to-expand-mining-operations\/"},"modified":"2021-03-08T15:07:00","modified_gmt":"2021-03-08T12:07:00","slug":"argo-blockchain-buys-320-acre-land-plot-in-texas-to-expand-mining-operations","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/argo-blockchain-buys-320-acre-land-plot-in-texas-to-expand-mining-operations\/","title":{"rendered":"# Argo Blockchain buys 320 acre land plot in Texas to expand mining operations"},"content":{"rendered":"

“# Argo Blockchain buys 320 acre land plot in Texas to expand mining operations <\/strong>”
\n<\/p>\n

Publicly-listed mining company Argo Blockchain has finalized<\/a> its acquisition of a new, 320 acre land plot in West Texas, United States, which it plans to use for the construction of a\u00a0new 200NW cryptocurrency mining facility.<\/p>\n

News<\/a> of the planned<\/a> acquisition first broke in mid-February, after Argo entered into a Letter of Intent with DPN LLC of New York. Details of the deal indicate that the acquisition was completed at an initial\u00a0 price of $5 million, satisfied by the issue of roughly 3.5 million new shares in Argo to DPN shareholders. A further payment of shares worth up to $12.5 million will occur once milestones related to the project are fulfilled.<\/p>\n

The cryptocurrency miner, which is based in London and trades on the London Stock Exchange under the ticker ARB, has until now<\/a>\u00a0tapp<\/a>ed cheap hydroelectric power in Quebec, Canada, for its\u00a0cryptocurrency mining operations.\u00a0In mid-January of this year, the company had raised<\/a>\u00a0fresh funds through a private placement with institutional investors in order to purchase new hardware and contribute towards financing its expansion.<\/p>\n

Chief Executive Peter Wall has said that the new site in Texas will provide the firm with “access to some of what we believe is the cheapest renewable energy worldwide, in a location where innovation in new technologies is encouraged and incentivised.” In correspondence with Cointelegraph, Wall added that:<\/p>\n

“[The acquisition] provides Argo with an excellent opportunity to make a very significant expansion to our current mining capacity. It also highlights the opportunities for miners within the US to build out their mining capabilities at some of the most competitive electricity rates globally.\u201d<\/p><\/blockquote>\n

Cheap and deregulated energy production in Texas is indeed one of the key factors contributing to the state’s rising reputation a\u00a0popular jurisdiction for blockchain firms in the U.S., with well-known names like\u00a0Bitmain already operating there.\u00a0<\/p>\n

A trade association called The Texas Blockchain Council was, moreover,\u00a0formed<\/a> back in November 2020, with the aim of coordinating a “Blockchain Caucus” of lawmakers in the state legislature to promote blockchain-friendly initiatives and legislation at a state level.<\/p>\n

Argo, which focuses on mining Bitcoin (BTC) and Zcash (ZEC), plans to construct its 200MW mining facility within the next 12 months. Following the acquisition, it will have access to up to a total of 800MW of electrical power.\u00a0<\/p>\n

In response to Cointelegraph’s question regarding the possible implications of the recent, high-profile power\u00a0blackouts<\/a> in Texas this winter, Wall said that Argos “understand[s] fully the Texas power grid challenges and opportunities,” but that the company still “think[s] it\u2019s a great place to build a facility.\u201d<\/p>\n

Reflecting the bullish mood of the cryptocurrency markets in 2021, Argo has also recently revealed that Wall has ostensibly become the first executive of a publicly traded company to take his entire salary in Bitcoin.<\/p>\n<\/div>\n

If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n

\n

For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n

\n

If you want to read more News articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# Argo Blockchain buys 320 acre land plot in Texas to expand mining operations ” Publicly-listed mining company Argo Blockchain has finalized its acquisition of a new, 320 acre land plot in West Texas, United States, which it plans to use for the construction of a\u00a0new 200NW cryptocurrency mining facility. News of the planned acquisition…<\/p>\n","protected":false},"author":1,"featured_media":196770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvZDZhYWU5ZGYtZTY3OC00YTE5LThhMjMtMzY0NzQ5YWU5NzQ1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,74863,117,4966,67874],"class_list":["post-196769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-cryptocurrencies","tag-business","tag-united-kingdom","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/196769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=196769"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/196769\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/196770"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=196769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=196769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=196769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}