Argo Blockchain: West Texas Crypto Mining Investment

Argo Blockchain, a London-based cryptocurrency mining company, has secured a $20 million loan agreement for a Texas crypto mining operation. The loan, termed at six months and collateralized by the company’s bitcoin holdings, will fund the West Texas data center and allows for operating cash flow requirements to be met.

The loan agreement was formed with Galaxy Digital LP, a New York-based “financial services and investment innovator in the digital asset, cryptocurrency, and blockchain technology sector.” Michael Novogratz heads Galaxy Digital.