Australian firm Arkon Energy is expanding its US bitcoin mining footprint just six months after first entering North America — and has raised $110 million to help fuel the growth. 

The Sydney-based company has agreed to purchase facilities from blockchain data center consultant Sabre56. The new sites are set to triple its capacity to 300 megawatts (MW).

Sabre56 is set to oversee operations across Arkon’s six US bitcoin mining facilities. 

The agreement comes as Arkon has secured an additional $110 million in a funding round led by Bluesky Capital Management — of which $80 million will go toward the US expansion. 

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