Argo Blockchain, a leading crypto miner witnesses a sharp surge in demand with a new funding loan of $40M. Will this loan reshape the growth trajectory of Argo blockchain with new mergers and acquisitions?
By Vishal Dixit
Edited by Marco T. Lanz
Updated
2 mins read
Argo blockchain is a London-listed cryptocurrency miner with the current share price of 4.03 GBX. Argo blockchain is one of the world’s leading cryptocurrency miners known for utilizing its renewable sources to power and support the growth of cryptocurrency.
With the Bitcoin mining process likely to witness smoother regulations, will Argo Blockchain’s new funding and focus on renewable energy lead to parabolic growth?
Argo blockchain shares in the US market surged to 16% as the mining company registered a non-binding term sheet for a $40 million investment in senior secured convertible loans. The Argo blockchain shares announced in a press release on March 3 about its recent signing of a non-binding term sheet on February 25.
Argo is pleased to announce that it entered into a non-binding term sheet for up to $40 million in senior secured convertible loans on 25 February 2025.
🔸 The initial tranche of the financing would be $15 million with follow-on tranches of up to $25 million over the next 18…
— Argo (@ArgoBlockchain) March 3, 2025
This comes with an initial $15 million tranche and followed up by a $25 million in systematic distribution over the next 18 months. With the new successful funding, Argo blockchain wants to bring multiple upgrades over its bitcoin mining fleet in Quebec, Canada.
This will help the mining company boost its balance sheet and explore multiple growing opportunities. This might lead to multiple uses of Argo blockchain, joining hands and mergers, or acquiring multiple small companies.
The $40 million debt funding carries an interest rate of approximately 8%. Furthermore, the Argo blockchain has waved a green flag for investors. Investor group received three seats on the company board with a 20-day exclusivity period. This also comes with a payment of $1,500 break fee.
The Argo team is working closely with the investor group to clear due diligence and refine our business plan in a timely manner.
Additionally, Argo blockchain was recently warned in January of delisting from Nasdaq due to its massive crash in stock price.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Vishal, a Bachelor of Science graduate, began his journey in the crypto space during the 2021 bull run and has since navigated the subsequent market winter. With a strong technical background, he is dedicated to delivering insightful articles rich in technical details, empowering readers to make well-informed decisions.
