Argo Blockchain Repays $35M Loan to Galaxy Digital
Bitcoin miner Argo Blockchain has completed the repayment of $35 million in debt, which was borrowed from asset manager Galaxy Digital in 2022 to prevent insolvency during the crypto bear market of that year. In a statement, Argo CEO Thomas Chippas stated that the repayment is “a significant milestone for Argo” and was completed “without […]
Argo Blockchain Reduces 2022 Debt By Half After Q2 2023
Cryptocurrency mining firm Argo Blockchain reports a total debt of $75 million as of June 30, 2023, a $68 million reduction from $143 million in June 2022. Argo Blockchain mining company is one of several firms to struggle amid adverse market conditions and a highly competitive mining ecosystem, it reported net losses of $18.8 million […]
Argo BTC production surges despite BTC difficulty
Bitcoin mining company Argo Blockchain has boosted its daily production of BTC even though network difficulty for mining Bitcoin has grown significantly, the production rate in February surged about 7%. Argo mined a total of 162 Bitcoin or BTC equivalents in February , which equates to 5.7 BTC per day, the company reported in an […]
Argo Blockchain faces class action lawsuit for misleading investors
Argo Blockchain investors have filed a class action lawsuit, claiming that the miner misled investors and omitted important details during its 2021 initial public offering (IPO). On January 26, a brand-new complaint was launched against Argo and a number of its executives and board members. It asserts that the company concealed its vulnerability to cash […]
Argo Blockchain sells Helios mining facility to Galaxy Digital
Cryptocurrency mining company Argo Blockchain has sold its Helios mining facility to Galaxy Digital in a $65M deal, this has helped Argo to reduce its total debt by $41M. On December 28, Argo Blockchain CEO Peter Wall formally announced an agreement to sell the Helios facility for $65 million to Mike Novogratz’s cryptocurrency investment company […]