United Kingdom-based crypto mining company Argo Blockchain will be funding part of the edifice and equipment of its planned 800-megawatt data center in Westward Texas through an offering of senior notes.

According to a Monday filing with the Securities and Exchange Committee (SEC), Argo plans to offer $57.v meg worth of 8.75% senior unsecured notes set to mature on November. thirty, 2026. The company said it intends to utilise the gain for rigs at its Texas crypto mining facility as well equally construction costs.

Argo broke ground on the 200 MW crypto mining facility in July, reporting the site would give the visitor "access to up to 800 MW of electric power" for its time to come operations if it chooses to acquire and develop all bachelor land. Cointelegraph reported on Friday that the facility could cost Argo anywhere betwixt $i.v billion and $ii billion, with the country already estimated at $17.5 million.

The visitor secured two multimillion loans from Galaxy Digital in June and September using its Bitcoin (BTC) as collateral to fund the site, which information technology plans to accept up and running by mid-2022. CEO Peter Wall has cited Texas' inexpensive renewable free energy as office of the reason for the structure of the information center in the area, with the SEC filing stating that Argo expected more than 90% of its power would come from "reliable, renewable power sources at a price below $0.02/kWh."

Related: Industrial Bitcoin mining breathes new life into tiny Texan boondocks

Argo reported it had mined 167 BTC in October, and held two,128 BTC — roughly $142 million — on its rest sheet equally of Oct. 31. With the price of Bitcoin recently reaching an all-time loftier of more than than $68,000, HODLing more of the crypto asset could prove to be profitable for the mining firm.