Arkon Energy, a bitcoin mining and colocation firm headquartered in Ohio, announced on Tuesday that it has procured 27,700 bitcoin ASIC mining rigs from manufacturer Bitmain, delivering a combined hashpower of 6 exahash per second (EH/s). This marks one of the largest single orders in the current mining cycle, coming just 17 days before the fourth Bitcoin block reward halving.
Deal Details: S21 and T21 Mix Boosts Efficiency
According to the company statement, the purchase includes 13,500 Antminer S21 units and 14,200 Antminer T21 machines. Delivery is scheduled to begin in June 2024. After integration, Arkon’s fleet efficiency is expected to reach 19 J/T (joules per terahash), a significant improvement over its previous generation hardware. This efficiency gain is critical for maintaining margins as the block reward is cut in half.
Strategic Timing: Pre-Halving Positioning
The agreement was finalized just 17 days before the anticipated fourth halving event, expected around mid-April 2024. Post-halving, the block subsidy will drop from 6.25 BTC to 3.125 BTC, squeezing revenue for all miners. In the past six months, numerous mining companies have placed large orders for next-generation machines and expanded their infrastructure to prepare for the reduction. Arkon’s order fits the broader industry trend of "halving defense"—replacing older, less efficient rigs with cutting-edge ones to sustain profitability.
Founder's Comment: A Turning Point for Vertical Integration
Arkon founder Josh Payne stated: "We are very excited to announce the purchase order of 6 EH/s worth of new generation Antminer S21s and T21s from Bitmain. This transaction marks a turning point for Arkon, as we become a vertically integrated operator of both Hosting and Self Mining infrastructure across our portfolio of data centers in Texas and Ohio." He emphasized that the deal gives the company direct control over hashrate costs and revenue streams.
Capacity Expansion: Targeting 307 MW with Additional 100 MW
In addition to the miner purchase, Arkon revealed that it has entered into binding agreements to secure additional sites in the United States, aiming to increase its total power capacity to 307 megawatts (MW), "subject to successful funding and development of the sites." The firm has also signed a letter of intent to add an extra 100 MW of capacity at its existing Hannibal site. If all plans materialize, Arkon’s total capacity will exceed 400 MW, placing it among mid-tier North American miners.
Industry analysts note that Arkon’s aggressive expansion reflects a growing divide: larger miners are leveraging scale to acquire low-cost hashrate ahead of the halving, while smaller operators may struggle to upgrade and could be forced to exit. The financial terms of the deal were not disclosed, but based on current market prices for S21 and T21 units, the total order value likely exceeds $100 million.