EXCLUSIVE: Bitcoin miner ArgoBlockchain will avoid bankruptcy by selling its Helios mining facility for $65 million and get a new $35 million loan from galaxyhq. by Aoyon_A
One of the largest miners
Helios, which was Argo's largest mining facility, has up to 180 megawatts worth of power capacity and will become Galaxy's flagship mining operation. The facilityunder Argo, with a plan to reach 800 megawatts of energy consumption and 20 exahash/second of computing power. If expanded to its full capacity, it could make Galaxy one of the largest bitcoin miners.
"Quality infrastructure and access to low-cost energy are the cornerstones of a successful mining operation, making the acquisition of Helios an incredible milestone for the growth of Galaxy’s mining business," said Amanda Fabiano, Head of Mining at Galaxy, in the statement. Additionally, Argo will enter into a two-year hosting agreement with Galaxy, securing a place for Argo’s computers to keep mining at the Helios facility, according to the statement.
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