Argo Blockchain to sell its mining facility Helios for $65mn
Technology
Argo Blockchain to sell its mining facility Helios for $65mn
(Reuters) - Crypto miner Argo Blockchain Plc (ARB.L) said on Wednesday it will sell its mining facility Helios for $65 million and signed a new asset-back loan agreement, in an attempt to avoid filing for bankruptcy.
The company, which will sell its Helios facility to Canada-listed investment management company Galaxy Digital Holdings (GLXY.TO), added the transactions will reduce its total indebtedness by $41 million.
