Argo Blockchain PLC (ARB)

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  • Argo Blockchain, a global leader in cryptocurrency mining (LSE:ARB), is pleased to announce it has secured a £14 million ($20 million) loan agreement for a term of six months with Galaxy Digital LP using a portion of the Company's Bitcoin holding as collateral. The proceeds of the loan will be used, in conjunction with the funds raised previously, to continue the build out of the Company's West Texas data centre and to meet the Company's operating cash flow requirements. It will allow Argo to retain its current Bitcoin holding, whilst further expanding its mining operations. Argo is delighted to have worked with Galaxy as its financing partner and looks forward to building a solid relationship with Galaxy going forwards.   Peter Wall, Chief Executive of Argo, said: "We are delighted to work with Galaxy Digital LP as we pursue our growth plans, and to form a solid relationship with them as a financing partner. This agreement allows Argo to secure competitive terms on a loan facility whi
    • Seems to be an useless excercise. Dsepite all the good news and initiatives, and even with the BTC moving up, the only way this goes is down 🙄
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