Argo Blockchain ( (GB:ARB) ) has provided an update.
Argo Blockchain plc has entered into a non-binding term sheet for up to $40 million in senior secured convertible loans to refresh its mining fleet, strengthen its balance sheet, and explore merger and acquisition opportunities. The financing, expected to be provided by multinational institutional investors, will include board representation and warrant coverage, subject to shareholder approval and regulatory waivers. This move is aimed at ensuring Argo’s profitable growth and operational sustainability over the next twelve months.
More about Argo Blockchain
Argo Blockchain plc is a dual-listed blockchain technology company focused on large-scale cryptocurrency mining. With operations in Quebec and offices in the US, Canada, and the UK, Argo emphasizes sustainable practices, predominantly using renewable energy. In 2021, it became the first climate-positive cryptocurrency mining company and a signatory to the Crypto Climate Accord.
YTD Price Performance: -22.81%
Average Trading Volume: 83,840
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $32.78M
See more data about ARB stock on TipRanks’ Stock Analysis page.