Bitcoin Mining Firm Argo Blockchain To Raise $57.5M Via Senior Notes Offering
The bitcoin mining firm Argo Blockchain filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed public offering due November 30, 2026, with an interest rate of 8.75% Senior Notes. The UK-based firm plans to raise a total of $57.5 million through the Notes sales to the public, offering them in increments of $25. They intend to use the funds for the construction of Argo’s Texas crypto mining facility, which aims to power 90% of operations through renewable sources and is estimated to cost around $2 billion. Our mining strategy is to....
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The company said it intends to use the proceeds for construction costs and rigs at its Texas crypto mining facility, expected to be operational in 2022. United Kingdom-based crypto mining company Argo Blockchain will be funding part of the building and equipment of its planned 800-megawatt data center in West Texas through an offering of senior notes.According to a Monday filing with the Securities and Exchange Commission (SEC), Argo plans to offer $57.5 million worth of 8.75% senior unsecured notes set to mature on Nov. 30, 2026. The company said it intends to use the proceeds for rigs at....
On Monday, the enterprise bitcoin mining operation Marathon Digital Holdings announced the firm will raise $500 million from convertible senior notes in order to accrue more “bitcoin or bitcoin mining machines.” Publicly-Listed Mining Operation to Raise $500M From Debt Markets to Purchase Bitcoin and ASIC Devices Marathon (Nasdaq: MARA), is one of the largest U.S. mining operations and on November 15, the firm revealed it plans to utilize debt markets for “general corporate purposes, including the acquisition of bitcoin or bitcoin mining machines.” The news....
Argo Blockchain has been selling its Bitcoin holdings earlier this year to cut debt to Michael Novogratz’s crypto investment firm Galaxy Digital. The London Stock Exchange-listed cryptocurrency firm Argo Blockchain has warned that it’s at risk of ceasing operations due to a lack of financing.The crypto mining company Argo Blockchain continues to explore new financing opportunities after failing to raise major capital from a strategic investor, according to an announcement on Oct. 31.Argo has been seeking to raise about 24 million British pounds ($27 million) via subscription for ordinary....
Bitcoin mining company Argo Blockchain is the latest to seek a public listing in the U.S. markets, a sign of the market's increasing maturity.
After selling 887 Bitcoin in July, Argo cut its outstanding balance under the BTC-backed loan to just $6.72 million. Cryptocurrency mining firm Argo Blockchain continues to sell its Bitcoin (BTC) holdings to cut its debt to Michael Novogratz’s crypto investment firm Galaxy Digital.Argo sold another 887 Bitcoin in July to reduce obligations under a BTC-backed loan agreement with Galaxy Digital, the firm announced on Friday.With the average BTC price of $22,670, the sales totaled $20.1 million, accounting for a significant part of the maximum outstanding loan balance of $50 million in Q2....