on Argo Blockchain PLC (LON:ARB)
Argo Blockchain Explores Expansion and Faces Hosting Changes
Argo Blockchain PLC announced key developments regarding its Baie-Comeau facility and Helios hosting agreement. Argo has signed a non-binding letter of intent with BE Global Development Limited to consider expanding into high-performance computing (HPC) at its Baie-Comeau site. This move could diversify Argo's operations beyond Bitcoin mining, branching into areas like data processing and AI.
The proposed HPC expansion aligns with Argo's strategy to innovate and explore growth in emerging computational markets. This would involve capital expenditure, potentially requiring shareholder approval. CEO Thomas Chippas highlighted the company's focus on diversification and technological leadership.
Separately, Argo's current hosting agreement with Galaxy at the Helios facility will not be renewed beyond December 2024. Galaxy plans to utilize the Helios space for HPC services, leaving Argo to reassess options for its 23,000 S19j Pros mining fleet.
R. E.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Argo Blockchain PLC news