RE: Mined Btc 202211 Jun 2022 13:38
As “Mined Btc 2022” is the thread title, it’s probably worth looking at some of the other info pertinent to 2022 contained within the recent RNS, you know, for completeness…
Helios Update
May 2022 marked the official commencement of mining operations at Helios. During this month, the Company installed 2,500 S19J Pro machines received as part of the machine swap agreement with Core Scientific which was announced in March 2022. Additionally, the Company began receiving and installing the S19J Pro machines that it purchased from Bitmain, as announced in September 2021, which increases the Company's mining fleet by approximately 3,000 machines per month. By the end of May, the Company had increased its hashrate capacity by 300 PH/s to 1.9 EH/s. Argo Blockchain is pleased to confirm that the installation of the 20,000 miners purchased from Bitmain is anticipated to be completed by October 2022.
ePIC Blockchain Technologies Partnership Update
The Company is also pleased to provide the following update on its collaboration with ePIC. Argo has executed a purchase agreement for 6,600 custom mining machines, with a right to place additional orders for up to 23,400 machines. The machines will utilize the Intel ASIC Blockscale chips, for which the Company previously signed a supply agreement with Intel (as announced in the Company's February 2022 Monthly Operational Update). The custom machines will be designed to Argo's specifications to optimize mining performance and efficiency for use at the Helios facility, which uses immersion cooling to seek to prolong the life of the machines and increase operating performance.
"We have officially commenced mining at our new facility, Helios, ahead of schedule, bringing to fruition months of hard work and planning," said Peter Wall, Chief Executive Officer of Argo. "The team expected minor issues and downtime as we brought systems online, but we've completed 25% of the machine swap with Core Scientific and installed an additional 300 PH/s, increasing our total hashrate capacity to 1.9 EH/s. Moreover, we're delighted to continue working with ePIC to develop custom rigs for use at Helios. We share their passion for innovation and are always looking at how we can better improve our operational performance for the benefit of our shareholders. In making use of the most advanced mining equipment, Argo continues to cement its position as one of the most innovative, ambitious, and sustainable cryptocurrency miners."
"We are proud of our collaboration with Argo," said Jim Seto, CEO of ePIC Blockchain. "We have worked closely with Argo's technical team on their innovative immersion solution and with Intel engineers to design an advanced customized Bitcoin miner with an eye to performance and efficient management of the mining fleet."