Agro Blockchain, a global company intended for crypto mining, is planning to acquire a spot in West Texas for their newest mining facility.
Plans for Texas
The crypto mining company, based in London and listed on the London Stock Exchange, issued a statement today to announce that they are planning to acquire DPN LLC, which is based in New York. This acquisition will give the company a huge edge as it would allow them access to a 320 acres area of land with over 800 megawatts of electric power to support it in Texas.
The company has also announced that it has a plan of developing a new 200 megawatts energy-efficient mining facility within the next twelve months.
This acquisition of the Texan land by Agro Blockchain has various benefits. Not only will it give the company better control over their crypto mining projects, but it will also give them the ability to expand their crypto mining range on a meaningful level. CEO Peter Wall, from Agro Blockchain, mentioned in a statement that according to him, the company believes that they now have the availability of some of the most cost-efficient renewable energy sources in the whole world. It has become a place where technology innovation is highly incentivized and encouraged, according to Wall.
Also read:Agro and the Competition in Texas
Agro Blockchain was established in 2017. Agro Blockchain has mined a total of 129 BTC in February, which is worth over 6.04 Million US Dollars. This brings their total number of BTC mined this year to the present date at about 222 Bitcoins. The company had a total of 599 BTC by the end of Feb, and according to a statement they issued recently, the company posted that the salary of the CEO of Agro Blockchain, Peter Wall, would solely consist of BTC.
The company is going to be the newest crypto mining firm in Texas. Bitmain, a Chinese cryptocurrency mining firm, set its foot in Rockdale, East Texas, while Northern Data AG, a German crypto mining firm, started manufacturing a BTC mining facility which, according to them, would become the largest BTC mining facility in the world. Anyhow, the State of Texas has become the go-to place for the firms that are innovating and investing in blockchain.
At Tokenhell, we help over 5,000 crypto companies amplify their content reach—and you can join them! For inquiries, reach out to us at info@tokenhell.com. Please remember, cryptocurrencies are highly volatile assets. Always conduct thorough research before making any investment decisions. Some content on this website, including posts under Crypto Cable, Sponsored Articles, and Press Releases, is provided by guest contributors or paid sponsors. The views expressed in these posts do not necessarily represent the opinions of Tokenhell. We are not responsible for the accuracy, quality, or reliability of any third-party content, advertisements, products, or banners featured on this site. For more details, please review our full terms and conditions / disclaimer.