Cryptocurrency mining company Argo Blockchain is borrowing from New York Digital Asset Investment Group (NYDIG) to buy more equipment.
Argo Blockchain will receive from a subsidiary of NYDIG 70.6 million dollars worth of money to his new facility in Texas. buy mining equipment will use for.
Argo management stated that the Helios facility, which it operates in Dickens district, is currently operating with a capacity of 200 megawatts. It can go up to 800 megawatts. he adds. The Helios plant is thus potential to become one of the largest facilities in the world. contains.
According to the details of the agreement between Argo Blockchain and NYDIG released today, the company will pay its debt in total. in eight slices will pay. Each tranche has a 12% interest rate and a two-year maturity.
Argo Blockchain, traded on the London stock exchange, Using new chips from Intel one of the few cryptocurrency miners.
Argo Blockchain signed an agreement with NYDIG in March of this year and left the company. $26.6 million had borrowed.