In a press release, Oslo-based investment firm Arcane Crypto said it has ordered the first batch of Antminers to begin mining cryptoassets.
The company has purchased 352 of Bitmain’s latest models, Antminer S19 Pro, through its subsidiary Arcane Green Data Services.
The total computing power of the party is 38,720 Th/s and will be operational in the third quarter of this year. Company CEO Torbjørn Bull Jenssen said he expects the party to generate revenues of around SEK 3.5 million (US$407,000) per month.
Arcane Crypto will have sufficient hosting facilities to double its mining capacity in the first quarter of 2022. The company is exploring ways to further expand its hosting capacity.
Despite the increase in difficulty adjustment, mining revenues are expected to continue to rise.
Arcane Crypto started trading on Sweden’s Nasdaq First North exchange in February.
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