London’s most prolific crypto mining firm, Agro Blockchain, has purchased a huge quantity of mining machines from Bitmain for its future project which is proposed to be developed in Texas, USA. Agreement for purchase shows that Argo Blockchain has bought 20 thousand mining machines of a specific model i.e. S19J Pro which is used for mining Bitcoin.
Argo Blockchain is known for being one of the most prolific crypto miners in the world which is based in London, UK. The firm is involved in mass production of Bitcoins and plans to expand its hash power for further increasing its Bitcoin mining process. As part of its expansion quest, Argo Blockchain is looking forward to developing a mining facility across the border in Texas, USA. It is certain that by the next year, the firm will be able to erect the mining facility in Texas and make it operational. Huge funding has been put on stake because Argo Blockchain wants to capitalize whatever it can from the ongoing crypto boom.
In the same spirit of expanding its business, Argo Blockchain has made an announcement recently revealing purchasing of a massive quantity of mining equipment. The firm told that it has acquired 20 thousand mining rigs from its old partner, Bitmain. On the other hand, Bitmain is a globally acclaimed mass producer of top-of-the-line Bitcoin and other crypto mining equipment. One of the most advanced of Bitmain’s mining rig model these days is “S19J Pro”, which is exclusively used for the production of Bitcoin. Argo Blockchain’s recent purchase with Bitmain is also comprised of the same model Bitcoin mining rigs. Resultantly, the acquisition of further mining rigs will eventually double the hash power capacity of Argo Blockchain.
Argo Blockchain told that the acquisition has been done because it is in the process of establishing a mining facility in West Texas. The Texas mining facility of Argo Blockchain is going to be a mammoth mining plant, claimed by the mining firm.
Bitmain, which is a Chinese company, is a long-term partner of Argo Blockchain. Even in the past, both have done business with each other multiple times. Under the purchase agreement, advance payment has already been received by Bitmain. However, the mining equipment will be delivered to Argo Blockchain in multiple shipments.
Currently, the exhaust power of Argo Blockchain is around 1.8. However, with the acquisition of further equipment from Bitmain, the exhaust will be doubled i.e. around 3.7. Argo Blockchain is expecting to reach that exahash level in the third quarter of the year 2022.
It is evident that Argo Blockchain is completely aware of the fact that crypto boom is continuing. In these circumstances, it is undoubtedly fruitful to keep investing funds for achieving expansions as well as capitalizing the crypto boom.