Home Bitcoin News Argo Blockchain Takes $25 Mln Bitcoin-Backed Loan to Fund Expansion

Argo Blockchain Takes $25 Mln Bitcoin-Backed Loan to Fund Expansion

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By Jaime Llinares Taboada

Argo Blockchain PLC mentioned Friday that it has taken a $25 million Bitcoin-backed mortgage from Galaxy Digital LP.

The cryptocurrency miner, which already has an excellent $20 million mortgage with Galaxy Digital, mentioned the cash shall be used to proceed to construct its West Texas information heart and to fulfill working money move necessities.

“The mortgage will allow Argo to retain its present Bitcoin holding, while additional increasing its mining operations,” Argo mentioned.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT


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