Bitcoin (BTC) miner Argo Blockchain is selling its mining facility in Dickens to Galaxy Digital.
According to the statement made by Argo Blockchain, Galaxy Digital 65 million dollars will pay.
Galaxy Digital also joined the mining company worth $35 million will lend. The collateral of this debt belongs to Argo Blockchain. 23 thousand 619 mining devices will be.
Those devices in Texas will still be owned by Argo Blockchain. The company also collaborates with Galaxy Digital. two years of hosting enters the agreement.
“This transaction with Galaxy takes Argo into a new era and provides several distinct advantages for Argo,” said Peter Wall, director of Argo. He said, “This way, 41 million dollars is reduced from our debt and our balance sheet is strengthened.” he added.
Cryptocurrency mining companies have been in trouble for several months, both because of the bear market and rising electricity costs. slang for a while to avoid filing for bankruptcy was working.