Australian data center startup Arkon completes $26 million new round of financing

ChainCatcher news, according to CoinDesk, Australian data center startup Arkon has completed a new funding round of $26 million, with participation from Sandton Capital Partners. The company is expanding into the U.S. by acquiring a site in Hannibal, Ohio.

It is reported that this data center in Ohio has a designed capacity of 100 megawatts (MW), and Arkon's computing power is expected to increase by 3.3 EH/s by the end of 2023. Arkon hopes that with less than a year until the next Bitcoin halving, the facility will provide predictable revenue streams by offering server hosting services to Bitcoin mining companies.

According to RootData data, Arkon Energy completed a $28 million funding round on November 17, 2022, using excess renewable energy to power its Bitcoin mining operations. (source link)