{"id":442392,"date":"2022-05-05T18:36:53","date_gmt":"2022-05-05T15:36:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/argo-blockchain-facility-in-west-texas-expects-to-start-mining-bitcoin-in-may\/"},"modified":"2022-05-05T18:36:53","modified_gmt":"2022-05-05T15:36:53","slug":"argo-blockchain-facility-in-west-texas-expects-to-start-mining-bitcoin-in-may","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/argo-blockchain-facility-in-west-texas-expects-to-start-mining-bitcoin-in-may\/","title":{"rendered":"# Argo Blockchain facility in West Texas expects to start mining Bitcoin in May"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a34d71750730\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a34d71750730\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/argo-blockchain-facility-in-west-texas-expects-to-start-mining-bitcoin-in-may\/#%E2%80%9D_Argo_Blockchain_facility_in_West_Texas_expects_to_start_mining_Bitcoin_in_May_%E2%80%9C\" >&#8221; Argo Blockchain facility in West Texas expects to start mining Bitcoin in May &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Argo_Blockchain_facility_in_West_Texas_expects_to_start_mining_Bitcoin_in_May_%E2%80%9C\"><\/span>&#8221; Argo Blockchain facility in West Texas expects to start mining Bitcoin in May &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZmZjYmIyZWUtN2UzNC00MTcyLTg4YjUtNTZmMTM0MDkwYjZiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>Crypto mining company Argo Blockchain\u2019s plans to open a data center in West Texas are likely nearing completion following an inauguration ceremony.<\/p>\n<p>In a Thursday announcement on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, Argo <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ArgoBlockchain\/status\/1522097592750034944\">said<\/a> it expects to begin mining operations at its Helios facility in Dickens County, Texas starting next week. The announcement came more than a year after the mining firm purchased a 320-acre land plot to construct the facility, first breaking ground on the 200-megawatt data center in July 2021. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We are thrilled to announce the energization and opening of Helios, our flagship Bitcoin mining facility in Dickens County, Texas! \u26a1\u26a1\u26a1<\/p>\n<p>Thanks to everyone who helped to make this possible. <\/p>\n<p>Yeeeeeehaw! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ARB?src=hash&amp;ref_src=twsrc%5Etfw\">#ARB<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ARBK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ARBK<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/gIUIfv5z2o\">pic.twitter.com\/gIUIfv5z2o<\/a><\/p>\n<p>\u2014 Argo (@ArgoBlockchain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ArgoBlockchain\/status\/1522097592750034944?ref_src=twsrc%5Etfw\">May 5, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nArgo CEO Peter Wall told Cointelegraph the facility was built in Dickens County due to access to renewable energy sources in the company\u2019s aim to \u201cmine Bitcoin in the most eco-friendly way possible.\u201d As of August 2021, the company said that its crypto operations had become \u201cclimate positive\u201d for some classifications of greenhouse gas emissions, with a plan to eventually become carbon neutral.<\/p>\n<p>\u201cA lot of [the available power] is somewhat stranded, meaning there is not a lot of local demand or local load to use that power, so we felt that this was a strong opportunity to help stabilize the grid,\u201d said Wall.<\/p>\n<p>The mining facility will be running with 20,0000 Bitmain S19J Pro rigs, which Argo said will be installed and made operational in stages between May and October. Argo\u2019s initial power capacity at the data center will be 200 MW, with access to an additional 600 MW \u201cin the coming years.\u201d The company expects a hash rate of 5.5 exahashes per second by the end of 2022, anticipating the additional power capacity introduced later will produce 20 EH\/s.<\/p>\n<p>Estimates for the total cost of the data center have ranged from $1.5 billion to $2 billion, according to a regulatory filing from Argo in November 2021. The mining firm also secured a $25 million loan agreement from Galaxy Digital LP in September 2021 using its Bitcoin (BTC) as collateral and said it would fund part of the facility with a $57.5 million offering of senior notes.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Mining worldwide: Where should crypto miners go in a changing landscape?<\/em><\/strong><\/p>\n<p>Texas has become somewhat of a hot spot for crypto miners looking to set up shop, possibly due to its cheap electricity and regulations friendly to mining firms. In April, the City of Fort Worth launched a pilot program to mine BTC using\u00a0three Antminer S9 rigs in its city hall building.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/argo-blockchain-facility-in-west-texas-expects-to-start-mining-bitcoin-in-may\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Argo Blockchain facility in West Texas expects to start mining Bitcoin in May &#8220; Crypto mining company Argo Blockchain\u2019s plans to open a data center in West Texas are likely nearing completion following an inauguration ceremony. In a Thursday announcement on Twitter, Argo said it expects to begin mining operations at its Helios facility&#8230;<\/p>\n","protected":false},"author":1,"featured_media":442393,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZmZjYmIyZWUtN2UzNC00MTcyLTg4YjUtNTZmMTM0MDkwYjZiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,75042,117,6474],"class_list":["post-442392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-mining","tag-business","tag-texas"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/442392","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=442392"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/442392\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/442393"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=442392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=442392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=442392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}