Ohio-based bitcoin mining and colocation provider Arkon Energy has placed a purchase order for 6 EH/s of Bitmain’s equipment in a move expanding to the proprietary bitcoin mining business.
The purchase order consists of 14,200 units of Bitmain’s Antminer T21 model and 13,500 units of the S21 model, with deliveries scheduled to begin in June. However, Arkon did not specify the unit price for the purchase as the two parties plan to “negotiate definitive agreements in the coming days.”
Arkon was founded in 2019 as a mining colocation provider. Joshua Payne, Arkon’s founder and chairman, said in the announcement that the firm has been consolidating distressed data center assets in “some of the lowest-cost power markets in North America” over the past two years.
With the proprietary mining pivot, it is also planning a backdoor listing in Europe by merging with a shell company, as previously reported. Some of Arkon’s senior management including the general counsel and chief growth officer joined the firm from Argo Blockchain, the first publicly listed mining firm in London.
Arkon said it has 117 megawatts (MW) of operating capacity across two sites in Ohio and has plans to add another 190 MW subject to sufficient funding.