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Argo Blockchain Repays $35M Loan to Galaxy Digital, Avoids Bankruptcy

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#Bitcoin
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Cointelegraph
443Words
Aug 12, 2024

Bitcoin miner Argo Blockchain has successfully repaid a $35 million loan to Galaxy Digital, which was crucial in preventing the company's bankruptcy during the 2022 crypto winter. The loan was part of a broader agreement that included selling the Helios mining facility and refinancing debt. This repayment is a significant milestone for Argo, achieved without affecting its operational hashrate. Argo continues to expand its mining capabilities, deploying new machines and maintaining a strong hashrate in the competitive Bitcoin mining industry.

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