Bitcoin cryptocurrency mining facility debuts in West Texas


DICKENS COUNTY – A few miles north of Dickens town on a county gravel road is a 125,000-square-foot warehouse full of high-tech supercomputing equipment that appeared to appear almost overnight.

In 2019, Dickens County Judge Kevin Brendle received a random email that eventually led to this new data center starting about eight months ago. Now, the facility is producing Bitcoin at the gateway to the rolling plains.

The facility is Argo Blockchain’s new flagship cryptocurrency mining hub, called “Helios,” which opened the big fanfare on Thursday morning at the site between Afton and McAdoo.

Take a tour of the new center:A look at Dickens County’s new cryptographic mining center

The festivities at the grand opening on Thursday included speeches by elected officials and company executives, guided tours, a catering meal and live music. U.S. Representative Ronny Jackson, R-Yellow and Lubbock Republican State Representative Dustin Burrows and State Sen. Charles Perry were all present to congratulate the company and the community on their achievement.

Argo Blockchain opens its flagship bitcoin site on Thursday, May 5, 2022 in Dickens County.  The facility has 125,000 square feet and is on 160 acres of land.

Argo is headquartered in the United Kingdom and has offices in Quebec, Canada and Houston, but CEO Peter Wall says, “Now it’s headquartered here. We have more people employed in Dickens County than anywhere else. our main mining facility. This is a huge, huge place for us. “

Wall says the data center will be able to extract about 25 Bitcoin a day, or about five times the company’s current output. According to the Bitcoin value on Saturday, this would mean that the Dickens facility could generate about $ 900,000 in revenue per day for Argo, although Bitcoin values ​​fluctuate enormously.

Photos:The Argo Blockchain cryptocurrency opens the flagship in Dickens County

Mining, says Wall, is basically the process of receiving new Bitcoin as a reward for verifying other Bitcoin transactions through complex mathematical calculations on a computer network.

Argo Blockchain opens its flagship bitcoin site on Thursday, May 5, 2022 in Dickens County.  The facility has 125,000 square feet and is on 160 acres of land.

“In our current financial system, if I’m going to send you money from one place to another, you use a bank, and the bank is the trusted third party,” Wall said. “In the Bitcoin network, you use a network of decentralized computers around the world. We’re part of that network.”

Why West Texas?

Argo has chosen Dickens County to build its 200-megawatt facility due to the abundant supply of cheap wind power, Wall said, which is important due to the company’s focus on sustainability as they plan to quadruple production at the Dickens facility in the near future. .

“The main thing you need to be a Bitcoin miner is energy, and what’s long in West Texas is energy, especially wind power,” Wall said, noting that energy in Dickens County costs less than half what it does in the facility. of the company in Quebec.

The people of the county also attracted them.

Members of the McAdoo Volunteer Fire Department attend the inauguration of the Argo Blockchain flagship on Thursday, May 5, 2022, in Dickens County.  The bitcoin site uses energy from the McAdoo windmill.

“The people of Dickens County are really talented and hardworking,” Wall said. “We now have 26 people employed in Dickens County and 45 in the region. We are now the largest employer in the county, in addition to school systems.”

County Judge Kevin Brendle, who jokingly referred to himself as “Bitcoin Brendle,” said Argo’s use of power and people is beneficial not only to the county but also to the community.



Source link

Leave a Comment

Your email address will not be published.