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Bitcoin Miner Argo Takes Out $70 Million Loan For Texas Mining Operation

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Argo Blockchain has received more than $70 million in loans to expand its Bitcoin mining business in Dickens County, Texas.

Helios, the company's flagship crypto mining operation in Texas, is borrowing an aggregate principal amount of $70.6 million from New York Digital Investment Group (NYDIG). This is the second 8-figure loan that Argo has taken out from NYDIG in the last month. The funds from the loan are expected to be utilised in “fitting out Phase 1 of the Helios site”.

CEO Peter Wall stated,

“With our mining operations at Helios expected to commence in May, along with the development of custom mining machines using Intel’s next-generation Blockscale ASIC chips, Argo is well-positioned to continue its growth with a focus on delivering for our shareholders,”

https://www.coinbureau.com/news/bitcoin-miner-argo-takes-out-70-million-loan-for-texas-mining-operation/

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