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)

Copyright (c) 2021 Dow Jones & Company, Inc.
Argo Blockchain (LSE:ARB)
Historical Stock Chart
From Nov 2021 to Dec 2021 Click Here for more Argo Blockchain Charts.
Argo Blockchain (LSE:ARB)
Historical Stock Chart
From Dec 2020 to Dec 2021 Click Here for more Argo Blockchain Charts.