Fort Capital Partners is pleased to announce its role as financial advisor to ePIC Blockchain Technologies in its priority supply and collaboration agreement with Argo Blockchain.
ePIC Blockchain Technologies (“ePIC” or the “Company”) has announced that it has entered into a definitive Pre-Purchase Agreement (the “Agreement”) with Argo Blockchain PLC (“Argo”) (LON:ARB ; OTCQB: ARBKF) with respect to ePIC’s Application-Specific Integrated Circuit (“ASIC”) and mining rigs.
Argo has committed to an initial purchase of US$8 million of ePIC’s mining rigs and a priority on all future production runs of ePIC machines globally for 2021 and 2022. Expected delivery of the machines will begin in early Q4, 2021. Larger scale delivery of ePIC machines will commence in 2022.
Henry Quan, ePIC CEO said “ePIC is delighted to partner with Argo to establish North America as a center of excellence for blockchain mining and decentralization of blockchain security to rival Asia. The teams at ePIC and Argo are strategically aligned in the quest to deliver innovative solutions and efficiencies only made possible through a close partnership. This vertical integration of sorts enables the lockstep delivery of advanced blockchain platforms combined with datacenter excellence.”
Peter Wall, Chief Executive of Argo Blockchain adds “We are really excited about this agreement and working with ePIC, one of the industry’s preeminent ASIC design firms. This partnership will not only give Argo priority in accessing the most advanced mining infrastructure available, but it also highlights our reputation within the sector as an innovative and forward-thinking cryptocurrency miner. By working with a world-class supplier of ASICs at the development and R&D phase to collaboratively create machines to our own specification, it will only further our technical capabilities and efficiency in our mining operations.”
Fort Capital acted as financial advisor to ePIC, identifying Argo as a strong partner and advising ePIC in the negotiation of the Agreement.