On November 6th, the British-based crypto mining company Argo Blockchain plans to build an 800-megawatt data center in western Texas. Its cost may be between US$1.5 billion and US$2 billion.
According to regulatory documents submitted by Argo on Friday, the cost of the Helios mining facility on 320 acres of land in Texas is estimated at $2 billion.
This is based on “the type of mining machines that will be installed in the facility. The cost of own and managed machines, raw materials. The labor and electricity required to construct the facility, the time for expansion and machine purchase, and other factors.” However, the company added , This is just an estimate. “Future results may vary significantly.”
Construction of the center started in July, and the company plans to start and operate the facility by mid-2022.
Peter Wall, CEO of Argo, put Texas cheap renewable energy. And its open attitude towards new technology innovation, as part of the reason for the construction of the data center.