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Bitcoin Miner Argo Will Avoid Bankruptcy With $100M Bailout from Novogratz’s Galaxy

Bitcoin miner Argo Blockchain (ARBK) will avoid filing for bankruptcy protection, after it agreed to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital (GLXY) for $65 million.

The miner will also get a new $35 million loan from Mike Novogratz’s crypto-focused financial services firm, which will be secured by Argo's mining equipment, according to a statement sent to CoinDesk.

(By Aoyon Ashraf)

Related News:

Argo Blockchain Requests Temporary Suspension of Trading on NASDAQ

Argo Blockchain Suspends U.S. Share Trading for 24 Hours

Argo Blockchain PLC Requests the Restoration of Trading on the London Stock Exchange

Bitcoin Mining Report: Argo Blockchain Tumbles 38% After Bankruptcy Gaffe

Shares of Bitcoin Miner Argo Blockchain Suspended in UK and US

Bitcoin Bitcoin $93,780.08
-4.14%
Bitcoin Miner Galaxy Digital Bitcoin
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