Crypto mining company Argo Blockchain has repaid a $35 million loan.

Deep Tide TechFlow News, Bitcoin mining company Argo Blockchain has fully repaid the $35 million loan borrowed from asset management company Galaxy Digital in 2022. This loan was originally taken to avoid bankruptcy during the 2022 crypto bear market.

Argo CEO Thomas Chippas stated that this repayment is an "important milestone" for the company and that it did not have any substantial impact on Argo's hash rate during the repayment process. As of the end of 2023, Argo's hash rate reached 2.7 EH/s, accounting for approximately 0.4% of the total Bitcoin network hash rate (677.43 EH/s). In July of this year, Argo mined an average of 1.5 bitcoins per day, producing 48 bitcoins per month.