With the purchase of a location in Hannibal, Ohio, Melbourne, Australia-based Arkon Energy, a provider of data center infrastructure, is extending its presence in the United States.
Australian Data Center Startup Arkon Raises $26 Million, Says America Is Its Next Target
At the same time, the company secured $26 million in funding from Sandton Capital Partners. The company, which mines BTC using renewable energy, said it would use this funding to finance its growth in North America. According to CEO Joshua Payne, the purchase will probably be the first of several over the coming year.
What is the Reason for Preferring the Facility?
By the end of 2023, the company’s hash rate is anticipated to increase by up to 3.3 exahashes per second (EH/s) thanks to the Ohio data center, which is planned to have a 100 MW capacity. By offering server hosting services to Bitcoin mining companies, Arkon said it hoped the facility would provide a reliable funds stream.
Raising capital in the current climate, particularly amidst a crypto downturn and increasing regulatory scrutiny, was indeed a challenge. However, the uncertain market landscape also presents very well-priced buying opportunities for those that are able to navigate the storm and protect the downside.
Payne
About Arkon Energy
Arkon Energy is an infrastructure company. With an expanding portfolio and project pipeline of both hosted and fully-owned sites across Australia and beyond, they develop and run enterprise-scale Bitcoin mining solutions powered by renewable energy.
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