Argo Blockchain Takes $25 Million Bitcoin-Backed Loan to Fund Expansion
10 September 2021 - 5:29PM
Dow Jones News
By Jaime Llinares Taboada
Argo Blockchain PLC said Friday that it has taken a $25 million
Bitcoin-backed loan from Galaxy Digital LP.
The cryptocurrency miner, which already has an outstanding $20
million loan with Galaxy Digital, said the money will be used to
continue to build its West Texas data center and to meet operating
cash flow requirements.
"The loan will enable Argo to retain its current Bitcoin
holding, whilst further expanding its mining operations," Argo
said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 10, 2021 03:14 ET (07:14 GMT)
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