Arkon Energy Acquires the US Mining Assets of a Global Digital Asset Service Provider

The new site in Hannibal, Ohio, that is designed for a 100 megawatts first stage and 200MW second stage, is expected to add up to 3.3 EH/s of processing power to Arkon's hosted hashrate before the end of 2023

MELBOURNE, Australia, June 21, 2023 /PRNewswire/ -- Arkon Energy Pty Ltd (Arkon or the Company), a data center infrastructure company, today announced it has completed the acquisition of an operating data center facility with up to 200MW of capacity located in Hannibal, Ohio, from a global digital asset service provider for an undisclosed amount.

The transaction marks Arkon's first data center in North America and accelerates the expansion of Arkon's data center hosting operations and services globally. Arkon also operates data centers in Norway and Australia.

"The successful acquisition of the site in Hannibal, Ohio is a significant milestone in the Arkon Energy story and establishes the Company as a leading globally diversified data center provider," said Joshua Payne, CEO of Arkon.  "We are excited to expand our footprint in Ohio, which is quickly becoming a leading state for data center infrastructure. Arkon will create rural technology jobs, expand Ohio's electrical customer base, and invest in the local community."

Arkon plans to immediately commence completion of facility developments which are already underway at Hannibal to rapidly bring the property to its first stage design capacity of 100 MW.  The Company's intention is to use the facility for providing server hosting services to institutional-scale clients in the bitcoin sector, creating a predictable, fixed-income revenue stream for the Company.

"Securing robust electrical infrastructure and affordable energy is a fundamental requirement for long-term success in the data center infrastructure business. The purchase of the Hannibal site marks a great step forward and establishes a strong foundation for Arkon's continued resilience and excellence delivering hosting operations to clients worldwide," expressed Nathan Townsend, Chief Operating Officer at Arkon. "We are excited to welcome a growing number of long-term locals into the Arkon team over the coming months of development, as we begin operating tens of thousands of cutting-edge technology computers at this site, bringing new skills and opportunities to the region."

Arkon expects 100MW to be completed by the end of the year, with new capacity being added incrementally every few weeks, and the ability to begin hosting clients immediately.

Cohen & Company Capital Markets, a division of J.V.B. Financial, LLC served as exclusive M&A advisor to Arkon on the acquisition of the site. Barkers Point Capital Advisors arranged financing for the transaction.  Winston & Strawn in the USA, McCullough Robertson in Australia, and Bull & Co in Norway served as Arkon's legal advisors in connection with the transaction.

About Arkon Energy

Arkon is a global data center infrastructure company. We buy, build, and operate world-class, sustainably powered data centers. Our business and portfolio are institutional grade, diversified across stable jurisdictions with strong revenues and exceptional growth, underpinned by reliable low-cost renewable power, and a robust and growing range of end-use cases. Arkon's data centers are local consumers in the physically constrained grids where the renewable electricity is generated, helping more of those projects become viable sooner, and accelerating the global renewable energy transition. For more information visit https://www.arkonenergy.com/.

Contact:
cohenandco@bamtheagency.com

SOURCE Arkon Energy