Jamie Crawley is a CoinDesk news reporter based in London.

Argo Blockchain has secured a new £18 million (US$25 million) loan from Galaxy Digital using part of its bitcoin holdings as collateral.

  • The loan will be used to fund the expansion of the bitcoin-mining company’s data center in West Texas and to meet its existing cash flow requirements, London-based Argo announced Friday.
  • Argo’s existing £14 million ($20 million) bitcoin-backed loan with Galaxy Digital will be rolled into the new agreement.
  • The loan matures on Oct. 29.
  • Argo completed the 320-acre land purchase in West Texas for the 200-megawatt crypto mining facility in March. CEO Peter Wall said the purchase gave the company greater control over its mining operations as well as the ability to expand its capacity.



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Jamie Crawley is a CoinDesk news reporter based in London.

CoinDesk - Unknown

Jamie Crawley is a CoinDesk news reporter based in London.

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