Arkon Energy's order of 27,700 Bitmain miners signifies a strategic shift from hosting to self-mining.
Arkon Energy, a prominent Bitcoin mining infrastructure company, has recently placed a substantial order with Bitmain for 27,700 new-generation Bitcoin mining machines. The order, as detailed in a press release, includes 14,200 T21 machines and 13,500 S21 machines, and deliveries are expected to start in June 2024.
Josh Payne, the Founder and Chairman of Arkon, expressed his enthusiasm about the acquisition, stating, "We are very excited to announce the purchase order of 6 EH/s worth of new generation Antminer S21s and T21s from Bitmain. This transaction marks a turning point for Arkon, as we become a vertically integrated operator of both Hosting and Self Mining infrastructure across our portfolio of data centers in Texas and Ohio."
Arkon, previously a dedicated hosting service provider for Bitcoin mining clients, is making a strategic shift towards self-mining operations with this new purchase. The machines' combined efficiency is reported to be less than 19 joules per terahash (J/TH), which is expected to place Arkon among the most efficient Bitcoin miners, especially after the anticipated halving event in April.
The company currently operates two data centers in Ohio, with a total approved capacity of 117MW. There are binding agreements for the development of additional sites in the United States, which could potentially increase Arkon's capacity to 307MW, contingent on successful funding and site development.
Payne highlighted the company's growth, saying, "Arkon has spent the last two years consolidating the distressed market for data center assets in some of the lowest-cost power markets in North America. Now we are taking the next step to vertically integrate the business with a purchase of a fleet of new generation miners, aiming to make Arkon one of the most efficient miners in the world."
This new development comes shortly after Arkon's announcement of its intention to be listed on Euronext Amsterdam through a business combination with BM3EAC Corp., which is part of the largest stock exchange in Europe by market capitalization.
Arkon Energy's recent purchase order from Bitmain signifies a strategic advancement in their business operations, marking their transition to self-mining. This move is aimed at enhancing their efficiency in the Bitcoin mining industry. With expansion plans underway and the upcoming listing on Euronext Amsterdam, Arkon is positioning itself for significant growth in the foreseeable future.
