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Arcane Crypto Orders First Batch of Mining Rigs
The Norwegian investment firm is entering crypto mining.
Oslo-based Arcane Crypto ordered its first batch of Antminers to start mining crypto, the company said in a press release.
- The company purchased 352 Antminers s19 Pro, one of Bitmain’s latest models, through its subsidiary Arcane Green Data Services.
- The batch’s total computing power is 38,720 Th/s, andwill be operational during Q3 of this year. Company CEO Torbjørn Bull Jenssen expects the batch to bring in around SEK 3.5 million (US$407,000) of revenue per month, he said in the statement.
- Arcane Crypto will have enough hosting facilities to double its mining capacity in Q1 2022, and is exploring ways to expand its hosting capacity even further,
- Despite a rise in difficulty adjustment yesterday, mining revenues are expected to keep increasing.
- Arcane Crypto listed on Sweden’s Nasdaq First North stock exchange through a reverse takeover in February.
Eliza Gkritsi
Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI, having previously covered mining for two years. She previously worked at TechNode in Shanghai and has graduated from the London School of Economics, Fudan University, and the University of York. She owns 25 WLD. She tweets as @egreechee.
