Core Scientific Becomes Publicly-Traded Argo Blockchain's Newest Hosting Services Partner

BELLEVUE, Wash., Nov. 17, 2020 /PRNewswire/ -- Core Scientific, the largest digital asset mining infrastructure provider in North America, announced it has partnered with Argo Blockchain plc ("Argo") (LSE:ARB), the publicly-traded, leading cryptocurrency miner based in the UK, to host Argo's Antminer S19s at Core Scientific's United States based facilities. Argo's decision to host with Core Scientific will expand their mining operations in North America, further solidifying North America as the optimal location for mining operations.

Core Scientific will provide physical hosting and optimization services, as well as access to competitive electrical power for 8,878 newly-leased digital mining machines owned by Argo and its clients at their existing facilities in the United States. Core Scientific will also work with Argo, a company that saw its revenue increase eleven-fold in 2019, to make their existing fleet more efficient.

Core Scientific's hosting and optimization services include miner sourcing and logistics management, white glove installation, a dedicated Client Success Manager (CSM), and 24/7 physical security and technical operations teams dedicated to making repairs around the clock at each site. Once Argo's digital mining machines arrive at Core Scientific's facilities, its team will install the units and employ its industry leading fleet management and monitoring system, Minder(TM), to provide real-time data analytics and diagnostics, ensuring a detailed macro and micro operational perspective.

Kevin Turner, CEO of Core Scientific, said, "We are continuing to see more and more institutional players like Argo expand their investments in digital asset mining. As these leaders in their industry partner with us to expand their investment, we strive to offer them a U.S.-based option that is compliant to industry standards."

North America has proven to be a leading location for institutional investors looking to invest in digital asset mining due to its ideal geopolitical climate and stable energy infrastructure.

Peter Wall, Chief Executive of Argo, said, "As a publicly-traded company, it is important for us to work with safe and transparent companies. We highly value that Core Scientific is EY-audited and trusted by a number of large institutional investors. On top of being a secure and stable operating partner to work with, Core Scientific is highly efficient and has excellent relationships with manufacturers, which is beneficial for troubleshooting and maximizing performance from our mining fleet."

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SOURCE Core Scientific