If you regularly invest in cryptocurrencies, you must be highly familiar with the London-based leading digital currency mining platform, Argo blockchain. Well, in the past few days, it is making the headlines. Do you know why?
This is because Argo has filed an application with the US Securities and Exchange Commission (SEC). In fact, through this application, they want to offer $57.5 million prices of 8.75% senior unsecured notes to the investors. This news is no doubt going to be trending for some time now. Let us know some more about it in the blog.
Let Us Explore Pathway to Construct Texas Mining Facility
As you know, this leading blockchain company is achieving several milestones for the past few years. In fact, Argo is making the emphatic transfer into the North American market for quite some time now. At the same time, they also cite budget and renewable energy sources present in that particular region.
You must have also come across the news where the progress of the West Texas facility has pushed the agency to secure loans from Galaxy Digital for different events. It is because of this Argo is using its Bitcoin holdings as collateral. As per the filing, the unsecured notes are to mature on November 30, 2026.
What Was Argo’s Bitcoin Mining Revenue & Strategy?
As you know, Argo’s mining revenue rose to 32%, i.e., around $9.75 million in October. The leading blockchain company mined about 167 bitcoins during that time as compared to other months. All in all, they had generated a huge monthly income in October.
However, behind this dream project, it is Argo’s use of perfect strategies and teamwork that is leading them to success. In fact, their competitors raised a lot of questions about Argo’s lack of clarity around the costs of the mining facility. However, Argo clarified everything regarding their investments.
Summing it Up
As we conclude, we can say that the Argo blockchain is achieving several milestones in the world of digital currency. This is just the beginning. Needless to say, this broad move by Argo is sure to bolster their mining capabilities. They are yet to break a lot of records.
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