Transformational strategic partnership…..28 Dec 2022 09:04
28 December 2022
Argo Blockchain plc
("Argo" or "the Company")
Announcement of Transformational Strategic Transactions with Galaxy Digital Holdings, Ltd.
? Argo's subsidiary to sell its Helios facility to Galaxy for $65 million (£54 million) and refinance asset-backed loans with a new $35 million (£29 million) loan with Galaxy
? Transactions will reduce total indebtedness by $41 million (£34 million) and simplify Argo's operating structure
? Argo will maintain ownership of all mining machines, and Galaxy will host Argo's fleet of Bitmain S19J Pros at Helios
? Transactions will strengthen Argo's balance sheet, improve Argo's liquidity position, and enable the Company to continue operations
• Limpingalong buying more and his average continues to tumble, a good year ahead I feel :-)))))