CoinVoice recently learned that according to Coinspeaker, Bitcoin mining company Argo Blockchain announced on December 2 that it had completed a £4.2 million (about $5.32 million) financing by issuing 76.9 million new ordinary shares to an undisclosed institutional investor at a price of 5.5 pence per share. The transaction was executed using a cashbox mechanism, bringing the company's total issued shares to more than 717 million shares.
The funds will be used to relocate or sell the equipment at its Helios mine in Texas, while maintaining the continued operation of the Quebec mine. It is worth noting that the company's pre-tax loss in the first three quarters of 2024 reached US$38.8 million, and the mining profit margin fell from 58% in the same period last year to 8%. [Original link]
