Arkon Energy's major purchase of Bitcoin mining machines
Arkon Energy US Holdco LLC, a company involved in Bitcoin mining infrastructure, has purchased 27,700 Bitcoin mining machines from Bitmain Development Pte. Ltd. acquired. Delivery is scheduled to take place from June 2024 and includes 14,200 T21 machines and 13,500 S21 machines. The company's founder and chairman, Josh Payne, has highlighted the purchase as a strategic move to make Arkon a more comprehensive operator of Bitcoin mining and hosting services at its data centers in Texas and Ohio.
Change in the business model
This move from a hosting provider to in-house mining represents a significant change in Arkon's business model. Additionally, the new mining devices are extremely efficient, with an energy consumption of less than 19 joules per terahash, establishing Arkon as a leading efficient Bitcoin Miners positioned, especially important after the expected Bitcoin halving event in April.
Data center expansion
Arkon currently operates two data centers in Ohio with a capacity of 117 MW and plans to expand its capacity in the US up to 307 MW. This expansion is dependent on securing the necessary funding and developing additional locations. Payne noted that Arkon has acquired distressed data center assets in recent years and is now moving forward with vertical integration by acquiring advanced miners.
Planned IPO on Euronext Amsterdam
This announcement comes shortly after Arkon's recent news of its intention to list on the Euronext Amsterdam stock exchange by merging with BM3EAC Corp. merged.
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