Argo crypto mining to purchase 8 million USD worth of ASIC mining machines from Epic Blockchain
Global cryptocurrency mining company Argo Blockchain has signed a commercial agreement with ePIC Blockchain Technologies (ePIC), a supplier of industry-leading ASIC mining machines, which will allow Argo priority access to state-of-the-art ASIC mining rigs.
Argo will initially purchase US$8 million of ePIC’s mining rigs and have priority on all future production runs globally for 2021 and 2022. Delivery of the machines will begin in early Q4, 2021 with larger scale delivery commencing in 2022. The companies will also work together throughout the development process to build machines specifically to Argo’s specifications.
Argo will also assist in the development and testing of future products and be given an option of a first right of refusal to purchase additional production. Argo will also provide space and capacity at one of its facilities for ePIC’s research and innovation engineering teams for development of future machines.
Based in North America, the ePIC team has a winning track record of designing and delivering industry leading semiconductors for companies such as Sony, Nintendo, AMD, ATI Technologies Inc, Microsoft and Qualcomm. This includes chips used in the popular Sony Ps4 and Ps5 PlayStations and the AMD Radeon GPU- the most popular GPU used in cryptocurrency mining. Their experience in high performance computing, parallel processing, and power efficiency is truly exceptional.
Peter Wall, Chief Executive of Argo Blockchain, said: “We are really excited about this agreement and working with ePIC, one of the industry’s preeminent ASIC design firms. This partnership will not only give Argo priority in accessing the most advanced mining infrastructure available, but it also highlights our reputation within the sector as an innovative and forward-thinking cryptocurrency miner. By working with a world-class supplier of ASICs at the development and R&D phase to collaboratively create machines to our own specification, it will only further our technical capabilities and efficiency in our mining operations.”
Henry Quan, ePIC CEO, said: “ePIC is delighted to partner with Argo to establish North America as a center of excellence for Blockchain mining and decentralization of blockchain security to rival Asia. The teams at ePIC and Argo are strategically aligned in the quest to deliver innovative solutions and efficiencies only made possible through a close partnership. This vertical integration of sorts enables the lockstep delivery of advanced blockchain platforms combined with datacenter excellence.”
Perry Hothi, Chief Technical Officer of Argo said: “This will be a game changer for Argo and ePIC. We are excited with the synergy between our teams. With the expertise of ePIC on the chip side combined with the mining capabilities of Argo, we truly believe this will enable us to be at the cutting edge of mining, from chip to data centre.”