{"id":49223,"date":"2021-09-10T14:37:20","date_gmt":"2021-09-10T11:37:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49223"},"modified":"2025-09-02T11:33:46","modified_gmt":"2025-09-02T08:33:46","slug":"argo-blockchain-secures-25-million-loan-from-galaxy-digital","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/argo-blockchain-secures-25-million-loan-from-galaxy-digital\/","title":{"rendered":"Argo Blockchain secures $25 million loan from Galaxy Digital"},"content":{"rendered":"<p>Mining company Argo Blockchain has agreed a loan from Galaxy Digital, Mike Novogratz&#8217;s crypto bank, totaling \u00a318 million (~$25 million). The funds will be used to expand the facility&#8217;s capacity in Texas, United States.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">New RNS<\/p>\n<p>Argo is pleased to announce that it has entered into a \u00a318.05 million* (US $25m) agreement with a maturity date of 29 Oct 2021 with Galaxy Digital LP, using a portion of Argo\u2019s BTC holdings as collateral.<\/p>\n<p>*Exchange rate calculated at 9 Sept 2021.<a href=\"https:\/\/twitter.com\/hashtag\/ARB?src=hash&#038;ref_src=twsrc%5Etfw\">#ARB<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24ARBKF&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ARBKF<\/a><\/p>\n<p>1\/<\/p>\n<p>\u2014 Argo (@ArgoBlockchain) <a href=\"https:\/\/twitter.com\/ArgoBlockchain\/status\/1436207873386852356?ref_src=twsrc%5Etfw\">September 10, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The maturity date of the loan is October 29, 2021.<\/p>\n<p>The mined bitcoins will serve as collateral for the loan. In the first half of the year, the company <a href=\"https:\/\/u1f987.com\/en\/news\/argo-blockchain-revenue-up-180-in-h1-2021\">mined<\/a> 883 BTC. At that time, Argo Blockchain owned 1,268 BTC (~$58.5 million at current prices).<\/p>\n<p>In June, as debt financing, the company <a href=\"https:\/\/u1f987.com\/en\/news\/argo-blockchain-secures-galaxy-digital-loan-to-build-texas-mining-pool\">raised<\/a> \u00a314 million from Galaxy Digital (~$20 million). The aggregate liabilities stood at \u00a332.05 million (~$45 million).<\/p>\n<p>In March, Argo Blockchain acquired in Texas <a href=\"https:\/\/u1f987.com\/en\/news\/argo-blockchain-buys-land-in-texas-for-new-mining-centre\">land parcel covering 185 football fields<\/a> for the construction of a Bitcoin mining data centre powered by renewable energy.<\/p>\n<p>Earlier in the month, the company <a href=\"https:\/\/u1f987.com\/en\/news\/argo-blockchain-to-launch-a-green-bitcoin-mining-pool\">signed a memorandum of understanding with DMG Blockchain Solutions<\/a>, under which the parties will create a green mining pool.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mining company Argo Blockchain agreed a loan from Galaxy Digital, Mike Novogratz&#8217;s crypto bank, totaling \u00a318 million (~$25 million). The funds will be used to expand the facility&#8217;s capacity in Texas, United States.<\/p>\n","protected":false},"author":1,"featured_media":49224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1182,18,1137,770],"class_list":["post-49223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-argo-blockchain","tag-bitcoin","tag-cryptocurrency-mining","tag-galaxy-digital"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=49223"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49223\/revisions"}],"predecessor-version":[{"id":49225,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/49223\/revisions\/49225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/49224"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=49223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=49223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=49223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}