Argo Blockchain PLC Announces Hosting Update
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) has expanded its hosting arrangement with Merkle Standard , increasing the number of S19J Pro miners to be hosted at Merkle's Memphis, Tennessee location from 5,293 to 8,113 miners. The deployment will occur during February and March 2025 for a minimum one-year term.
Additionally, 2,500 S19J Pro miners will be hosted at Argo's Baie Comeau, Quebec facility where capacity is available. By the end of March, approximately 46% of the 23,000 miners previously hosted at Helios will be operational. The company expects its hashrate to steadily increase during February and March as the refurbishment process continues.
Argo is currently in discussions regarding hosting arrangements for the remaining miners and will provide updates as progress is made.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha ampliato il suo accordo di hosting con Merkle Standard, aumentando il numero di miner S19J Pro ospitati presso la sede di Merkle a Memphis, Tennessee, da 5.293 a 8.113 miner. Il dispiegamento avverrà durante febbraio e marzo 2025 per un periodo minimo di un anno.
Inoltre, 2.500 miner S19J Pro saranno ospitati presso la struttura di Argo a Baie Comeau, Quebec, dove è disponibile capacità. Entro la fine di marzo, circa il 46% dei 23.000 miner precedentemente ospitati presso Helios sarà operativo. L'azienda si aspetta che il suo hashrate aumenti costantemente durante febbraio e marzo mentre continua il processo di ristrutturazione.
Argo è attualmente in discussione riguardo agli accordi di hosting per i miner rimanenti e fornirà aggiornamenti man mano che i progressi saranno fatti.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha ampliado su acuerdo de alojamiento con Merkle Standard, aumentando el número de mineros S19J Pro que se alojarán en la ubicación de Merkle en Memphis, Tennessee, de 5,293 a 8,113 mineros. La implementación se llevará a cabo durante febrero y marzo de 2025 por un período mínimo de un año.
Además, 2,500 mineros S19J Pro se alojarán en la instalación de Argo en Baie Comeau, Quebec, donde hay capacidad disponible. Para finales de marzo, aproximadamente el 46% de los 23,000 mineros que anteriormente se alojaban en Helios estarán operativos. La empresa espera que su hashrate aumente constantemente durante febrero y marzo a medida que continúa el proceso de renovación.
Argo está actualmente en conversaciones sobre acuerdos de alojamiento para los mineros restantes y proporcionará actualizaciones a medida que se realicen avances.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK)는 Merkle Standard와의 호스팅 계약을 확장하여 메르클의 테네시주 멤피스 위치에서 호스팅될 S19J Pro 채굴기의 수를 5,293대에서 8,113대로 증가시켰습니다. 배치는 2025년 2월과 3월 동안 최소 1년 계약으로 진행될 예정입니다.
추가로, 2,500대의 S19J Pro 채굴기가 아르고의 퀘벡주 바이에 콤오 시설에서 호스팅될 예정이며, 이곳에서는 용량이 확보되어 있습니다. 3월 말까지 헬리오스에서 이전에 호스팅되었던 23,000대 중 약 46%가 운영될 것으로 예상됩니다. 회사는 리모델링 과정이 진행됨에 따라 2월과 3월 동안 해시레이트가 지속적으로 증가할 것으로 예상하고 있습니다.
아르고는 나머지 채굴기에 대한 호스팅 계약에 대해 현재 논의 중이며, 진행 상황에 따라 업데이트를 제공할 것입니다.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) a élargi son accord d'hébergement avec Merkle Standard, augmentant le nombre de mineurs S19J Pro à héberger sur le site de Merkle à Memphis, Tennessee, de 5 293 à 8 113 mineurs. Le déploiement aura lieu en février et mars 2025 pour une durée minimale d'un an.
De plus, 2 500 mineurs S19J Pro seront hébergés dans l'installation d'Argo à Baie Comeau, Québec, où la capacité est disponible. D'ici la fin mars, environ 46 % des 23 000 mineurs précédemment hébergés chez Helios seront opérationnels. L'entreprise s'attend à ce que son taux de hachage augmente régulièrement en février et mars alors que le processus de rénovation se poursuit.
Argo est actuellement en discussion concernant les arrangements d'hébergement pour les mineurs restants et fournira des mises à jour au fur et à mesure des progrès réalisés.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) hat seine Hosting-Vereinbarung mit Merkle Standard erweitert und die Anzahl der S19J Pro Miner, die am Standort von Merkle in Memphis, Tennessee, gehostet werden, von 5.293 auf 8.113 Miner erhöht. Die Bereitstellung wird im Februar und März 2025 für eine Mindestlaufzeit von einem Jahr erfolgen.
Zusätzlich werden 2.500 S19J Pro Miner in der Einrichtung von Argo in Baie Comeau, Quebec, gehostet, wo Kapazität verfügbar ist. Bis Ende März werden voraussichtlich etwa 46 % der zuvor in Helios gehosteten 23.000 Miner betriebsbereit sein. Das Unternehmen erwartet, dass sich seine Hashrate während des Februars und März kontinuierlich erhöhen wird, während der Renovierungsprozess fortschreitet.
Argo befindet sich derzeit in Gesprächen über Hosting-Vereinbarungen für die verbleibenden Miner und wird Updates bereitstellen, sobald Fortschritte erzielt werden.
- Increased hosting capacity from 5,293 to 8,113 miners at Merkle's facility
- 46% of previously hosted Helios miners to be operational by March 2025
- Expected hashrate increase during February and March
- 54% of Helios miners still require hosting arrangements
- Deployment and refurbishment process still ongoing, affecting current operations
Insights
This operational update signals a methodical but incomplete recovery of Argo's mining capabilities. The expanded hosting arrangement with Merkle Standard represents a 53% increase in deployed miners at the Memphis location, demonstrating improved execution of their restructuring strategy. However, with only 46% of their previously Helios-hosted fleet becoming operational by March, significant operational capacity remains offline.
The geographical diversification between Tennessee and Quebec presents both opportunities and challenges. Quebec's historically lower electricity costs and cooler climate could provide operational advantages, while Tennessee offers proximity to major power infrastructure. However, the split deployment across multiple locations may introduce additional operational complexity and potentially higher management costs.
A critical consideration is the timeline for deploying the remaining 54% of the mining fleet. The extended period of partial deployment could significantly impact revenue generation potential, especially during a period of increasing network difficulty and evolving market conditions. The one-year minimum term with Merkle suggests a focus on operational stability, but also raises questions about flexibility in responding to market changes.
The refurbishment process mentioned in the announcement adds another layer of complexity. While necessary for optimal performance, it could affect the immediate hash rate contribution of the redeployed miners and impact short-term mining efficiency. The gradual increase in hashrate over February and March indicates a cautious approach to redeployment, prioritizing operational stability over immediate capacity restoration.
LONDON, UNITED KINGDOM / ACCESS Newswire / February 24, 2025 / Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) is pleased to announce that it has amended its hosting arrangement with Merkle Standard LLC ("Merkle") to host a total of 8,113 S19J Pro miners at Merkle's Memphis, Tennessee location, up from the initial 5,293 reported in January. These miners, previously hosted by the Company at Helios, will be deployed during the months of February and March for a minimum one year term. As previously disclosed, an additional 2,500 S19J Pro miners will be hosted at our Baie Comeau, Quebec facility where the Company currently has available capacity.
By the end of March, after these deployments, the Company expects
With the refurbishment process underway and hosting arrangements in place, Argo's hashrate is expected to steadily increase during the months of February and March. Ongoing discussions to host the remaining miners continue and the Company will update the market on further install plans as progress is made.
This announcement contains inside information.
For further information please contact:
Argo Blockchain |
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Investor Relations | |
Tennyson Securities |
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Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities |
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Joint Broker Guy Wheatley, CFA | +44 7493 989014 guy.wheatley@fortifiedsecurities.com
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Tancredi Intelligent Communication UK & Europe Media Relations |
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About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Argo Blockchain PLC
View the original press release on ACCESS Newswire
FAQ
How many miners will ARBK host at Merkle's Memphis facility?
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How many miners will ARBK host at their Baie Comeau facility?
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