The cost of Argo Blockchain’s Texas mining facility could be as high as $2B

The UK-based crypto mining company Argo Blockchain plans to build an 800-megawatt data center in western Texas at a cost of between US$1.5 billion and US$2 billion.

According to regulatory documents submitted by Argo on Friday, the cost of the Helios mining facility on 320 acres of land in Texas is estimated at US$2 billion. based on Regarding “the type of mining machines to be installed in the facility, the combination of self-owned and managed machines, the cost of raw materials, the labor and power required to construct the facility, the time for expansion and machine purchase, and other factors.” However, the company added, This is just an estimate, “Future results may vary significantly.”

Argo broke ground on a 200 MW encrypted mining facility in Dickens County in July. report The site will provide “up to 800 megawatts of power” for the company’s future operations. Although the mining center does not yet have a roof, Just one plot will cost Argo $17.5 million. The company plans to start and operate the facility in the middle of 2022.

Argo’s CEO Peter Wall cited Texas’ cheap renewable energy and its openness to new technology innovation as part of the reason for building a data center.As of August, the company Claims its cryptographic operations The classification of certain greenhouse gas emissions has become “climate-friendly” as part of its ultimate carbon neutral plan.

related: Experts say Bitcoin mining may not cause power outages in Texas

Many bitcoins (Bitcoin) Miners have Open a store in Texas As China continues to crack down on the mining industry, the state stands out with its cheap electricity and seemingly crypto-friendly regulations. The state is currently home to Blockcap, Riot Blockchain and other companies.