Argo Blockchain (ARBK), the London-based cryptocurrency miner, has filed to raise up to $57.5 million in senior notes that would be due in November 2026, with an interest rate of 8.75%.
- Argo will use the proceeds for general corporate purposes, and construction and build-out of its Texas mining facility, as well as potential acquisitions or investments in businesses involved with cryptocurrency and blockchain technology.
- Argo also said that it mined 167 bitcoin or bitcoin equivalent in October with mining revenue of $9.75 million and a margin of approximately 86%.
- Argo’s American depositary shares fell slightly in early trading on Monday, while other miners surged amid bitcoin’s rally.
Read more about
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.