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Nov 8, 2021
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Argo Blockchain Files to Raise Up to $57.5M in Senior Notes

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Argo Blockchain (ARBK), the London-based crypto miner, has filed to raise up to $57.5 million in senior notes that would be due in Nov. 2026, with an interest rate of 8.75%.

  • Argo will use the proceeds of the fund for general corporate purposes, and construction and build-out of its Texas mining facility, as well as potential acquisitions or investments in businesses within the 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 margin on approximately 86%.
  • Argo’s American depositary shares fell slightly in early trading on Monday, while other miners surged amid bitcoin’s rally.

Read more: Argo Blockchain Shares Fall After Workers Accidentally Share Non-Public Information

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