Share this article
BTC
$83,434.54
+
0.71%ETH
$1,803.92
+
0.90%USDT
$0.9998
+
0.01%XRP
$2.1712
+
4.80%BNB
$596.64
+
1.02%SOL
$119.97
+
3.78%USDC
$1.0001
+
0.01%DOGE
$0.1701
+
3.15%ADA
$0.6604
+
2.88%TRX
$0.2365
-
1.64%LINK
$12.90
+
1.95%LEO
$8.9611
-
4.47%TON
$3.2989
-
2.70%XLM
$0.2576
-
0.16%AVAX
$18.26
+
0.87%SUI
$2.2581
+
2.38%SHIB
$0.0₄1230
+
0.61%HBAR
$0.1621
-
0.33%LTC
$83.26
+
0.21%OM
$6.2465
-
0.90%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
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.
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
STORY CONTINUES BELOW
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
