Arkon Energy Secures $110 Million to Supercharge Bitcoin Mining Capacity and Launch Innovative AI Cloud Service

Arkon Energy Secures $110 Million to Supercharge Bitcoin Mining Capacity and Launch Innovative AI Cloud Service

Arkon Energy, a prominent player in data center infrastructure, has successfully concluded the initial phase of a private funding round, raking in an impressive $110 million. The fresh injection of capital is earmarked for substantial operational expansion, with a primary focus on tripling Arkon’s existing data center capacity in the United States. Leading the funding round is Bluesky Capital Management, accompanied by continued support from Kestrel 0x1 and Nural Capital.

A pivotal milestone for Arkon is the strategic collaboration with Sabre56, materializing as a 300MW multi-site development and management deal across six innovative facilities. The collaboration is set to significantly amplify Arkon’s footprint in the US, marking a transformative moment in the company’s pursuit of becoming a global top-five Bitcoin data center operator.

Of the $110 million, a substantial $80 million will be dedicated to acquiring an additional 200MW capacity, strategically distributed across novel data centers in the US. This move aligns with Arkon’s commitment to meeting the escalating global demand for high-performance computing while ensuring the responsible use of renewable and cost-efficient power sources.

Simultaneously, Arkon is allocating $30 million to foster the development of an AI cloud service project at its existing 30MW data center in Norway. This forward-looking initiative responds to the burgeoning markets of Generative AI and Large Language Model (LLM) training, acknowledging the pivotal role these technologies play in shaping the future.

Joshua Payne, Founder and CEO of Arkon Energy, expressed his enthusiasm, stating, “We are extremely excited to announce the largest private funding round by a Bitcoin Mining platform in 2023. Arkon Energy will use this growth capital to become a global top 5 Bitcoin data centre operator in terms of size and power cost efficiency.”

Highlighting the broader impact of this expansion, Payne emphasized, “This marks a transformative expansion to the Arkon Energy US portfolio, bringing the company into a global top-five position in terms of operating size and power cost efficiency.”

Arkon’s trajectory includes reaching a formidable 300MW across six US facilities by Q3 2024, supplementing its flagship 30MW operation in Norway. As Arkon solidifies its position as one of the largest data center owners globally, the company remains committed to sustainable practices and contributing positively to the local economies in which it operates.

In the coming year, Arkon promises additional revelations about its cutting-edge cloud-based AI platform, underscoring its dedication to innovation and meeting the evolving needs of the tech landscape.

For more details about Arkon Energy, visit arkonenergy.com.

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