Arcane Crypto Orders First Batch of Mining Rigs

The Norwegian investment firm is entering crypto mining.

By Eliza Gkritsi

Sep 8, 2021 at 9:19 a.m. UTC

Updated Sep 8, 2021 at 2:04 p.m. UTC

Eliza Gkritsi

Eliza Gkritsi is CoinDesk's crypto mining reporter based in Asia.

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Oslo-based Arcane Crypto ordered its first batch of Antminers to start mining crypto, the company said in a press release.

The company purchased 352 Antminers s19 Pro, one of Bitmain’s latest models, through its subsidiary Arcane Green Data Services.
The batch’s total computing power is 38,720 Th/s, and will be operational during Q3 of this year. Company CEO Torbjørn Bull Jenssen expects the batch to bring in around SEK 3.5 million (US$407,000) of revenue per month, he said in the statement.
Arcane Crypto will have enough hosting facilities to double its mining capacity in Q1 2022, and is exploring ways to expand its hosting capacity even further,
Despite a rise in difficulty adjustment yesterday, mining revenues are expected to keep increasing.
Arcane Crypto listed on Sweden’s Nasdaq First North stock exchange through a reverse takeover in February.

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