Wall Street-based Bitcoin miner Argo Blockchain (LSE: ARB, NASDAQ: ARBK) has secured a new hosting agreement with Merkle Standard LLC for its mining operations in Memphis, Tennessee, while also expanding its presence in Quebec.
New Hosting Arrangements
Under the agreement, Merkle Standard will host 5,293 S19J Pro miners at its Tennessee facility, with deployment expected in February 2025 for a minimum term of one year. Meanwhile, Argo will allocate 2,500 additional miners to its Baie-Comeau, Quebec site.
These miners, previously housed at the Helios facility, are currently being converted from immersion-based to air-cooled systems. Argo expects the refurbishment to be completed by the end of March, with shipments to both locations set for February.
This move represents about one-third of the 23,000 miners previously operated at Helios. Argo also revealed ongoing discussions with Merkle Standard regarding potential expansion of the current hosting deal.
As the miners become operational, Argo anticipates a gradual increase in its overall hashrate throughout February. The company continues to
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