Argo Blockchain (LSE: ARB) has signed an settlement with a Canadian ASIC miner producer that offers it precedence entry to block reward mining machines for the subsequent two years. The London-listed agency inked the take care of ePIC Blockchain Applied sciences, committing to an preliminary $8 million mining rigs buy.
Argo introduced that it had signed the industrial provide and collaboration deal in a press release. As a part of the deal, Argo could have precedence on all future manufacturing runs by ePIC globally until 2022. Argo will even help within the growth and testing of future merchandise and have the primary proper of refusal to buy extra merchandise.
ePIC will ship the $8 million value of mining rigs in This autumn 2021. “The businesses will even work collectively all through the event course of to construct machines particularly to Argo’s specs,” the press launch added.
Argo Blockchain CEO Peter Wall stated, “This partnership is not going to solely give Argo precedence in accessing probably the most superior mining infrastructure out there, but it surely additionally highlights our popularity throughout the sector as an modern and forward-thinking cryptocurrency miner. By working with a world-class provider of ASICs on the growth and R&D part to collaboratively create machines to our personal specification, it’ll solely additional our technical capabilities and effectivity in our mining operations.”
Based mostly in Toronto, ePIC extends past the digital forex business, producing semiconductors for a lot of main world firms. A few of its purchasers embody AMD, Nintendo, Sony, Microsoft, Google, Qualcomm and ATI.
Commenting on the partnership, ePIC’s CEO Henry Quan said he believes it’ll set up North America as a rival to miners in Asia. He added, “The groups at ePIC and Argo are strategically aligned within the quest to ship modern options and efficiencies solely made doable by an in depth partnership. This vertical integration of types permits the lockstep supply of superior blockchain platforms mixed with datacenter excellence.”
Argo has been increasing its operations in current months. As CoinGeek reported, the agency introduced plans to open a 200-megawatt block reward mining facility in Texas. It entered into an settlement to buy 320 acres of land in West Texas for $17.5 million.
See additionally: TAAL’s Jerry Chan presentation at CoinGeek Dwell, The Shift from Bitcoin “Miners” to “Transaction Processors”
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