The company said it anticipates being able to energise and complete the 200MW facility in the first half of this year Argo Blockchain PLC (LSE:ARB, O
The company said it anticipates being able to energise and complete the 200MW facility in the first half of this year
Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) said it has taken out a US$26.66mln (£20.23mln) equipment financing loan to cover the purchase of electrical infrastructure equipment for its Helios cryptocurrency mining facility in Texas.
The company said it anticipates being able to energise and complete the 200MW facility in the first half of this year.
US-based subsidiary Argo Helios has agreed a four-year loan from NYDIG at an annual interest rate of 8.25%, secured against the equipment.
Peter Wall, chief executive of Argo, said: “We are delighted to secure this non-dilutive funding which will enable us to complete a crucial stage in our fit out of our Helios site.”
NYDIG is one of the foremost bitcoin finance companies in the industry and we are excited to leverage their knowledge and insight of the sector in this newly formed relationship”.
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