In fact, word broke of a $70-million loan from crypto service provider NYDIG Wednesday, cash Argo will use to acquire more mining rigs — bringing the total loan above $97 million.
“I’m extremely grateful to everyone who has been involved in the planning and execution of Helios,” CEO Peter Wall said in a statement.
The UK firm said the 20,000 Bitmain S1PJ Pro mining rigs bought last September are still being delivered and installed.
Some of Core Scientific’s rigs have already been installed, with the rest to be delivered and set up throughout July.
Right now, Argo wields 1.605 exahashes per second , equivalent to about 0.7% of Bitcoin’s hash rate.
Over the next few years, Argo says its new site will eventually harness 800 megawatts of electricity.