London Stock Exchange mining company Argo Blockchain expects an 800 MW data center in Texas to cost between $ 1.5 billion and $ 2 billion to build.
Argo Blockchain held a meeting with Asset Manager Anthony Coyle on November 4, according to reports submitted to the UK regulator. During the meeting, representatives of the mining company “inadvertently disclosed information that could be considered material non-public information under US securities laws or inside information under UK securities laws.”
During the meeting, representatives of Argo Blockchain said that, according to their estimates, the cost of a mining center for 800 MW in the US state of Texas will be from $ 1.5 billion to $ 2 billion. At the same time, the estimate is quite approximate and includes the cost of mining equipment, materials, construction workers and the cost of energy.
Interestingly, thanks to the immersion cooling of mining equipment, the efficiency of bitcoin mining has increased – Argo Blockchain announced an increase in hash rate by 25%. In addition, the management of the mining company hopes that in the future, up to 20% of the profit will be generated from the mining of altcoins. Earlier, the American company Riot Blockchain also reported about testing the immersion cooling of mining equipment.
Recall that Argo Blockchain’s plans to build a mining center in Texas were announced back in February this year. However, then it was about a site with a capacity of 200 MW. It seems that the company’s management has decided to significantly increase the scale of construction.
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