Argo Blockchain PLC Company Update - Hosting
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) has secured a hosting arrangement with Merkle Standard to host 5,293 S19J Pro miners at their Memphis, Tennessee location, with deployment scheduled for February under a minimum one-year term. Additionally, 2,500 S19J Pro miners will be hosted at Argo's Baie Comeau, Quebec facility.
The miners, previously hosted at Helios, are being refurbished and converted from immersion-based to air-cooled systems, with completion expected by March end. February shipments are planned to both Merkle and Baie Comeau locations. Once these deployments are complete by February end, approximately one-third of the 23,000 miners previously at Helios will be operational.
The company expects its hashrate to gradually increase during February as the refurbishment process continues. Discussions are ongoing with Merkle for potential expansion and with other parties for hosting the remaining miners.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha stipulato un accordo di hosting con Merkle Standard per ospitare 5.293 miner S19J Pro presso la loro sede di Memphis, Tennessee, con una distribuzione programmata per febbraio e un termine minimo di un anno. Inoltre, 2.500 miner S19J Pro saranno ospitati presso l'impianto di Argo a Baie Comeau, Quebec.
I miner, precedentemente ospitati presso Helios, stanno essendo ristrutturati e convertiti da sistemi ad immersione a sistemi a raffreddamento ad aria, con completamento previsto entro la fine di marzo. Le spedizioni di febbraio sono programmate sia per Merkle che per la sede di Baie Comeau. Una volta completati questi schieramenti entro la fine di febbraio, circa un terzo dei 23.000 miner precedentemente a Helios saranno operativi.
L'azienda prevede che il suo hashrate aumenterà gradualmente durante il mese di febbraio man mano che continua il processo di ristrutturazione. Sono in corso discussioni con Merkle per una possibile espansione e con altre parti per ospitare i miner rimanenti.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) ha firmado un acuerdo de alojamiento con Merkle Standard para albergar 5.293 mineros S19J Pro en su ubicación de Memphis, Tennessee, con un despliegue programado para febrero bajo un término mínimo de un año. Además, 2.500 mineros S19J Pro serán alojados en la instalación de Argo en Baie Comeau, Quebec.
Los mineros, que anteriormente estaban alojados en Helios, están siendo reacondicionados y convertidos de sistemas basados en inmersión a sistemas refrigerados por aire, completándose a finales de marzo. Se planifican envíos para febrero tanto a las ubicaciones de Merkle como a Baie Comeau. Una vez que se completen estos despliegues a finales de febrero, aproximadamente un tercio de los 23.000 mineros que estaban en Helios estarán operativos.
La empresa espera que su hashrate aumente gradualmente durante febrero a medida que continúe el proceso de reacondicionamiento. Se están realizando discusiones con Merkle para una posible expansión y con otras partes para albergar a los mineros restantes.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK)는 Merkle Standard와 협약을 체결하여 테네시주 멤피스에 5,293개의 S19J Pro 채굴기를 호스팅하게 되었으며, 최소 1년 계약 조건으로 2월에 배치될 예정입니다. 또한, 2,500개의 S19J Pro 채굴기는 Argo의 퀘벡 주 Baie Comeau 시설에서 호스팅될 것입니다.
이 채굴기들은 이전에 Helios에서 호스팅되었으며, 침수 방식에서 공랭식 시스템으로 개조되고 있으며, 3월 말까지 완료될 예정입니다. 2월에는 Merkle와 Baie Comeau로의 배송이 계획되어 있습니다. 이러한 배치가 2월 말까지 완료되면 Helios에 있었던 23,000개의 채굴기 중 약 1/3이 가동될 것입니다.
회사는 재정비 과정이 계속됨에 따라 2월 동안 해시레이트가 서서히 증가할 것으로 예상하고 있습니다. Merkle과의 확장을 위한 논의가 진행 중이며, 나머지 채굴기를 호스팅하기 위해 다른 당사자들과도 논의 중입니다.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) a conclu un accord d'hébergement avec Merkle Standard pour héberger 5 293 mineurs S19J Pro dans leur emplacement de Memphis, Tennessee, avec un déploiement prévu pour février sous un terme minimum d'un an. De plus, 2 500 mineurs S19J Pro seront hébergés dans l'installation d'Argo à Baie Comeau, Québec.
Les mineurs, précédemment hébergés chez Helios, sont en cours de rénovation et de conversion de systèmes de refroidissement par immersion à des systèmes de refroidissement par air, avec une finition attendue d'ici la fin mars. Des expéditions pour février sont prévues à la fois pour les emplacements de Merkle et de Baie Comeau. Une fois ces déploiements terminés d'ici la fin février, environ un tiers des 23 000 mineurs précédemment chez Helios seront opérationnels.
L'entreprise s'attend à ce que son hashrate augmente progressivement pendant le mois de février à mesure que le processus de rénovation se poursuit. Des discussions sont en cours avec Merkle pour une éventuelle expansion et avec d'autres parties pour l'hébergement des mineurs restants.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) hat eine Hosting-Vereinbarung mit Merkle Standard getroffen, um 5.293 S19J Pro Miner an ihrem Standort in Memphis, Tennessee, zu beherbergen, wobei der Einsatz für Februar geplant ist und eine Mindestlaufzeit von einem Jahr vorgesehen ist. Darüber hinaus werden 2.500 S19J Pro Miner in Argos Einrichtung in Baie Comeau, Quebec, untergebracht.
Die Miner, die zuvor bei Helios untergebracht waren, werden renoviert und von einem Immersionssystem auf luftgekühlte Systeme umgerüstet, wobei die Fertigstellung bis Ende März erwartet wird. Die Lieferungen für Februar sind sowohl an die Standorte Merkle als auch Baie Comeau geplant. Sobald diese Bereitstellungen bis Ende Februar abgeschlossen sind, werden etwa ein Drittel der 23.000 Miner, die zuvor bei Helios waren, betriebsbereit sein.
Das Unternehmen erwartet, dass seine Hashrate im Februar allmählich steigen wird, während der Renovierungsprozess fortgesetzt wird. Gespräche mit Merkle über eine potenzielle Expansion sowie mit anderen Parteien über das Hosting der verbleibenden Miner sind im Gange.
- Secured new hosting arrangement for 5,293 miners with Merkle Standard
- Additional 2,500 miners to be hosted at own Baie Comeau facility
- 7,793 miners (33% of previously hosted miners) to be operational by February end
- Only one-third of previously hosted miners will be operational
- Ongoing refurbishment and conversion process causing operational delays
- Remaining two-thirds of miners still require hosting solutions
Insights
This strategic hosting restructuring represents a critical operational pivot for Argo Blockchain, with several key implications for investors:
Technical Infrastructure Transformation
The conversion from immersion to air-cooled mining systems marks a significant operational shift. While immersion cooling typically offers superior heat management and potential for overclocking, the transition to air cooling suggests a strategic focus on operational simplicity and cost optimization. This could potentially reduce maintenance complexity and operating expenses, though possibly at the expense of maximum hashrate potential.
Geographic Diversification Strategy
The distribution of miners between Memphis, Tennessee and Baie Comeau, Quebec represents a calculated approach to geographic risk management. Quebec's historically lower electricity costs and cooler climate provide natural advantages for mining operations, while Tennessee offers strategic positioning within the U.S. market. This dual-location strategy helps mitigate regional regulatory and operational risks.
Operational Recovery Timeline
The phased deployment approach, targeting activation of one-third of the previously Helios-hosted miners by February's end, indicates a measured recovery strategy. The projected timeline for refurbishment and deployment suggests a gradual hashrate recovery, which could impact near-term revenue generation. The potential for expanded hosting with Merkle provides upside optionality for accelerated recovery.
Capacity Utilization and Scaling
With approximately 7,793 miners (5,293 at Merkle + 2,500 at Baie Comeau) of the 23,000 total being redeployed, there remains significant potential for further capacity expansion. The ongoing discussions for additional hosting arrangements will be important for full operational recovery and future growth potential.
LONDON, UNITED KINGDOM / ACCESS Newswire / January 27, 2025 / Hosting Update
Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) is pleased to announce that it has entered into a hosting arrangement with Merkle Standard LLC ("Merkle") to host 5,293 S19J Pro miners at Merkle's Memphis, Tennessee location. These miners, previously hosted by the Company at Helios, will be deployed during the month of February for a minimum one year term. Discussions continue with Merkle to increase the number of miners hosted. An additional 2,500 S19J Pro miners will be hosted at our Baie Comeau, Quebec facility where the Company currently has available capacity.
The previously hosted S19J Pro miners are currently being refurbished and converted from immersion-based miners to air cooled miners and the Company expects this conversion process to be completed by the end of March, with completed units being shipped to Merkle and Baie Comeau during the month of February. By the end of February, after these deployments, the Company expects one third of the approximately 23,000 miners previously hosted at Helios to be operational.
With the refurbishment process underway and hosting arrangements in place, Argo's hashrate will steadily increase during the month of February. 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 |
|
Investor Relations | |
Tennyson Securities |
|
Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities |
|
Joint Broker Guy Wheatley, CFA | +44 7493 989014 |
Tancredi Intelligent Communication UK & Europe Media Relations |
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 Argo Blockchain (ARBK) host with Merkle Standard in Memphis?
When will ARBK complete the miner conversion from immersion to air-cooled systems?
What percentage of ARBK's previously hosted miners will be operational by February 2025?
How many miners will ARBK host at their Baie Comeau facility?
What is the duration of ARBK's hosting agreement with Merkle Standard?
