Repayment
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Argo Blockchain Repays $35M Loan 💸
#Argo Blockchain has successfully repaid the $35 million loan that saved it from bankruptcy during the harsh crypto winter of 2022.
This #repayment marks a major milestone for the company, which managed to maintain its mining power without any setbacks. To avoid financial collapse, Argo sold its Helios mining facility in Texas for $65 million but continued its operations by leasing back the space.
Since then, Argo has steadily grown its mining operations, maintaining a strong hashrate and mining 48 Bitcoin in July 2023. Meanwhile, Galaxy Digital is expanding its Helios data center to meet the growing demand for power from #AI and high-performance computing.
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#Binance
#crypto2024
#Argo Blockchain has successfully repaid the $35 million loan that saved it from bankruptcy during the harsh crypto winter of 2022.
This #repayment marks a major milestone for the company, which managed to maintain its mining power without any setbacks. To avoid financial collapse, Argo sold its Helios mining facility in Texas for $65 million but continued its operations by leasing back the space.
Since then, Argo has steadily grown its mining operations, maintaining a strong hashrate and mining 48 Bitcoin in July 2023. Meanwhile, Galaxy Digital is expanding its Helios data center to meet the growing demand for power from #AI and high-performance computing.
If you enjoy my content, feel free to tip me ❤️
#Binance
#crypto2024