British mining company Argo Blockchain plans to build an 800 megawatt data center in West Texas that could cost anywhere from $1.5 to $2 billion.
Built on 320 acres of land in Texas, the estimated cost of Helios’ mining facility is $2 billion, according to an Argos statement Friday, based on “the type of mining equipment that will be installed on-site, the owned set, property, machinery, shelter, and cost of materials.” Rough, labor costs “the power and energy required to build the factory, construction time, vehicle purchase and other factors. However, the company added that this is only an estimate and that “future results may vary significantly.”
In July, Argo began building a 200-megawatt crypto mine in Dickens County, saying the plant would give the company “access to up to 800 megawatts of electricity” for future operations. Although the mining hub has no cap yet, the site alone will cost Argo $17.5 million. The company plans to operate the plant by mid-2022.
Peter Wall, CEO of Argo, cited Texas’ cheap renewable energy as well as its openness to innovation in new technology as one of the reasons for building a data center. As of August, the company said its crypto operations had become “climate friendly” for some greenhouse gas emissions ratings as part of its plan to ultimately reduce carbon emissions.
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Many Bitcoin (BTC) miners have opened stores in Texas while China continues to crack down on mining and the country stands out for its cheap power and seemingly crypto-friendly regulations. Currently, Blockcap, Riot Blockchain, and others are in the state.