Crypto Miners Argo Blockchain and Core Scientific Sign Miner Swap Agreement

Crypto miners Argo Blockchain and Core Scientific announced Monday that they had signed a miner swap agreement to see Core receive Argo’s existing Bitmain Antminer S19 bitcoin miners, which are already hosted at Core, according to reports. Since the Antminer S19's maximum hash rate is 95 TH/s, the Core will receive around 10,000 miners. On the other hand, Argo will receive Bitmain’s Antminer S19J Pro bitcoin miner previously ordered by Core, with a total capacity of 967 PH/s. Since the S19J Pro has a maximum hashrate of 110 TH/s, Argo will receive about 9,000 units. Argo is currently building an 800-megawatt facility called Helios in Texas that could cost as much as $2 billion to build. These S19J Pro miners will be operational on-site and will account for 60% of the company’s total mining capacity. To mitigate any temporary hashrate loss on Argo, the swap of miners will take place in stages when the machines are delivered, expected to take place between May and July 2022.