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Image result for The lands in West Texas are being targeted by ARB

The publicly traded bitcoin mining company, Argo Blockchain (ARB), is planning to buy land in West Texas to establish a new mining facility.

On Wednesday, Argo said it was planning to buy 320 acres of land to build a 200 megawatt data center over the next 12 months. The acquisition cost will be $ 17.5 million, financed through the issue and allocation of Argo’s common shares.

“We are incredibly excited about this proposed acquisition. It gives Argo tremendous control over its mining operations, as well as significant capacity for expansion. In addition, we have been able to secure access to some of the cheapest renewable energy worldwide in a location where innovation in new technologies is encouraged and incentivised.”

Peter Wall, Chief Executive of Argo Blockchain

The DPN LLC of New York facility will assist Argo in power supply after completion with the lowest rates from renewable sources.

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