Proceeds from crypto miner argoblockchain's capital raise will be used to pay down debt. JamieCrawleyCD reports.
Cryptocurrency miner Argo Blockchain has raised 5.7 million British pounds through the sale of new shares.
The sale comprised a private placing that raised 5.134 million pounds and a public sale that raised 616,000 pounds,. The funds will be used to reduce the company's outstanding debt. The number of shares sold represent about 12% of the company's pre-sale market cap, and were priced a discount of around 14% to the 30-day volume weighted average price of Argo stock.of 194.2 million pounds compared with net income of 30.8 million pounds the year before, reflecting the sharp drop in the value of bitcoin during the previous 12 months, as mining firms across the industry struggled to stay afloat.facility in Dickens Country, Texas, to Galaxy Digital for $65 million.
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