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Argo Blockchain Secures $25M Bitcoin-Backed Loan From Galaxy Digital

The loan will be used to fund continued expansion of the company’s data center in West Texas.

By Jamie Crawley
Updated May 11, 2023, 7:02 p.m. Published Sep 10, 2021, 9:37 a.m. 1 min read
(Shutterstock)

Argo Blockchain has secured a new £18 million (US$25 million) loan from Galaxy Digital using part of its bitcoin holdings as collateral.

  • The loan will be used to fund the expansion of the bitcoin-mining company’s data center in West Texas and to meet its existing cash flow requirements, London-based Argo announced Friday.
  • Argo’s existing £14 million ($20 million) bitcoin-backed loan with Galaxy Digital will be rolled into the new agreement.
  • The loan matures on Oct. 29.
  • Argo completed the 320-acre land purchase in West Texas for the 200-megawatt crypto mining facility in March. CEO Peter Wall said the purchase gave the company greater control over its mining operations as well as the ability to expand its capacity.

Read more: Argo Blockchain Files for Nasdaq Share Listing



Argo BlockchainGalaxy DigitalBitcoin MiningLoans

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Crypto custody firm Copper is looking to sell the company for $500 million

著者 Ian Allison|編集者 Aoyon Ashraf
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Amar Kuchinad, Copper's global CEO (Copper)

Cantor Fitzgerald has been appointed to help with the sale, according to sources.

知っておくべきこと:

  • The crypto custody firm is weighing a $500 million sale, according to sources.
  • The jewel in Copper’s crown is the ClearLoop in-custody settlement system, which caters to dozens of institutional firms.
  • Copper closed its enterprise custody business in 2023 to focus on ClearLoop
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