Another miner cashes in: Argo Blockchain reports selling 637 BTC to pay debts

Another miner cashes in: Argo Blockchain reports selling 637 BTC to pay debts

Argo reported it had an outstanding balance of $22 million on a loan from Galaxy Digital, from which it secured BTC-backed loan agreements in 2021. Argo Blockchain has joined crypto mining firms including Bitfarms, Core Scientific and Riot Blockchain in selling part of its Bitcoin holdings.In a Thursday blog post, Argo said it sold 637 Bitcoin (BTC) in June for an average price of $24,500 — roughly $15.6 million. The company planned to use the funds to reduce its debt to Galaxy Digital, from which Argo secured separate $20 million and $25 million BTC-backed loan agreements in 2021. The....


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