Global cryptocurrency mining company Argo Blockchain announced it has signed a commercial agreement with ePIC Blockchain Technologies (ePIC). A supplier of industry-leading ASIC mining machines.
The collaboration will allow Argo priority access to state-of-the-art ASIC mining rigs. Also assisting in the development and testing of future products.
Argo initially will purchase $8 million worth of ePIC’s mining rigs. Having priority on all future production runs globally for 2021 and 2022. Delivery of the machines will begin in early Q4, with larger scale delivery starting in 2022.
The companies will also work together throughout the development process to build machines specifically to Argo’s specifications.
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Argo will also assist in the development and testing of future products. Giving an option of a first right of refusal to purchase additional production. The company will provide space and capacity at one of its facilities for ePIC’s research and innovation engineering teams for development of future machines.
“We are really excited about this agreement and working with ePIC, one of the industry’s preeminent ASIC design firms. This partnership will not only give Argo priority in accessing the most advanced mining infrastructure available. It also highlights our reputation within the sector as an innovative and forward-thinking cryptocurrency miner”. Chief executive of Argo Blockchain Peter Wall said.
“By working with a world-class supplier of ASICs at the development and R&D phase to collaboratively create machines to our own specification, it will only further our technical capabilities and efficiency in our mining operations.”
Henry Quan, the CEO of ePIC, added: “ePIC is delighted to partner with Argo to establish North America as a center of excellence for Blockchain mining and decentralization of blockchain security to rival Asia.”
He continued: “The teams at ePIC and Argo are strategically aligned in the quest to deliver innovative solutions and efficiencies only made possible through a close partnership. This vertical integration of sorts enables the lockstep delivery of advanced blockchain platforms combined with datacenter excellence.”
Based in North America, the ePIC team has designed and delivered industry leading semiconductors for companies such as Sony, Nintendo and Microsoft.