.novogratz has explained the rationale behind the recent deal with ArgoBlockchain
believes that bear markets are ideal opportunities to continue building. According to his recent tweet, the cryptocurrency mogul remains a believer in Bitcoin in the long term.
Earlier today, it was announced that Argo Blockchain had agreed to sell Helios, its Dickens County, Texas-based mining facility, to Galaxy Digital for $65 million in order to avoid filing for bankruptcy protection. Furthermore, Galaxy will be refinancing Argo's debt. The transaction is scheduled to be finalized by the end of this month.
Novogratz views the firm's purchase of Helios as an important step towards “building for the decentralized future.” In addition to expanding Galaxy’s mining capabilities, the acquisition will provide them with the ability to act as a “host” for other miners as well.
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