The crypto miner said it will use the proceeds to build out its facility in Texas, make potential acquisitions and for general corporate purposes.
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.