Argo Blockchain cryptocurrency miner building in Dickens County
DICKENS COUNTY, Texas (KCBD) – A London, England-based cryptocurrency mining company has chosen Dickens County as the location of its next North American facility, relying on cheap, renewable energy to power its infrastructure in a quest for bitcoin.
“There was some apprehension,” Dickens County Judge Kevin Brendle said. “I think there are still some. I think there are still a lot of questions people are asking. We don’t really know how to refer to it. Is it a concept? Is it an industry?
Brendle told KCBD that Argo Blockchain purchased private land about 10 miles north of Dickens in 2019. As the company prepares to pour concrete for its 125,000 square foot facility, it aims to answer questions of the community through an information program Monday evening at the Palais. Theater in Spur.
“I think it’s important that everyone do their homework, research these companies as they approach governments,” Brendle said. “Try to control them as best you can. Learn as much as you can. I don’t think it’s going to stop. In Texas, where energy is king, I think we’re going to continue to see these companies grow. develop on the South Plains and the Rolling Plains.
This energy is what drew Argo to Dickens County. The purchased land is adjacent to the Cottonwood substation of the McAdoo Wind Farm, which primarily receives and distributes renewable energy.
“The business they are setting up uses a lot of electricity,” Brendle said. “It made sense for them and a good deal for them to set up their business where they could buy cheap electricity. “
Argo Blockchain touts its efforts to use renewable energy to power its crypto mining. The process involves computers verifying transactions and solving what’s called a mathematical hash function, which adds a block to the blockchain ledger. The first to do so receives a bitcoin reward.
Brendle encourages his community to learn about the process. He expects Argo to be well received, especially since it is expected to represent an investment of over $ 100 million in the region and create 20 jobs.
“Our primary focus and interest is what it will do for the county in terms of property value, our tax base, what it will do for school districts and governments and the jobs they will bring,” said Brendle.
It is expected that the operation can be launched by mid-2022.
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