Argo Announces $ 25 Million Loan From Galaxy Digital To Fund Expansion

On September 10, Argo Blockchain, a UK-based mining company, announced on Friday that it had received a $ 25 million Bitcoin-backed loan from Galaxy Digital to fund its expansion. Argo previously had a $ 20 million loan from Galaxy Digital that was non-repayable. Argo said the new funds will be used to further develop the data centers in West Texas and meet the needs of the revenue stream. This will allow Argo to manage its current Bitcoin holdings (over 1,500) while developing its mining activities. (Market view)