2 years ago
Eliza Gkritsi is CoinDesk's crypto mining newsman based successful Asia.
Crypto miner Argo Blockchain (ARB) is borrowing $70.6 cardinal from a subsidiary of New York Digital Investment Group (NYDIG) to money the acquisition of mining instrumentality for its Helios installation successful Texas.
Argo, which has a marketplace headdress of £308 cardinal ($385 million), announced different $26.6 cardinal indebtedness from NYDIG back successful March, bringing the full to $97.2 million.
Argo expects the Helios installation successful Dickens region to run astatine 200 megawatts (MW) of electricity, but has the capableness to beryllium ramped up to 800 MW, which would marque it 1 of the largest mines successful the world. The steadfast is 1 of a fewer buying Intel's caller mining chips.
The indebtedness announced connected Wednesday volition beryllium paid retired successful 8 tranches from the extremity of April to July, each with an involvement complaint of 12% and maturing successful astir 2 years.
The indebtedness announced successful March came with an 8.25% per annum involvement complaint and a word of 4 years.
In Q4 of 2021, Argo besides raised £29.6 cardinal ($40.0 million) successful unsecured indebtedness by issuing of elder notes that are traded connected the Nasdaq Global Select Market, according to its yearly net report.
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Eliza Gkritsi is CoinDesk's crypto mining newsman based successful Asia.
Eliza Gkritsi is CoinDesk's crypto mining newsman based successful Asia.
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