Bitcoin miner Argo to avoid bankruptcy with $100M deal from Galaxy Digital

Galaxy Digital has agreed to acquire Argo Blockchain’s bitcoin mining facility Helios for $65 million, the two firms announced Wednesday.
The deal also includes Galaxy acquiring “related operations” from Argo Blockchain. Galaxy will also provide Argo with a $35 million loan as the company restructures, secured by a collateral package with Argo mining equipment. Argo will keep ownership of its machines at the Dickens County, Texas, facility and will enter a two-year hosting agreement with Galaxy to provide a place for its mining machines at the facility.
Through this deal, not only will Galaxy

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