On May 13, 2021, Argo Blockchain, a global leader in cryptocurrency mining, completed the acquisition of the two data centres in Quebec, Canada pursuant to the share purchase agreement announced on February 3, 2021.
The data centres have a combined total of 20MW of power capacity and currently house a significant proportion of Argo's cryptocurrency mining equipment. The data centres are powered almost entirely by electricity generated from hydro power, which is a key part of the Company's green mining vision.
The acquisition is part of Argo Blockchain's strategy to increase control over the mining facilities in which its machines are hosted, and to providing the Company with long term stability.
A Fasken team comprised of Constantinos Ragas, Mike Stephens, and Jonathan Raizenne acted for Argo Blockchain in connection with this transaction.
Jurisdiction
- Québec
