Top Bitcoin miner Argo Blockchain announced Monday that it had finished repaying a $35 million rescue loan from Galaxy Digital. 

Argo said that it had repaid the loan—which came from crypto asset manager and financial services firm Galaxy in 2022—ahead of schedule. 

Things were looking bad for the London-based company back in 2022, when a crypto bear market forced the miner to sell parts of its Bitcoin holdings to cover rising energy costs. 

Things took a turn for the worse when it called off a $27 million fund raise—causing the firm’s shares to plunge in price.

Galaxy Digital stepped in with the loan and a plan to buy its mining site based in Dickens, Texas for $65 million.

Argo CEO Thomas Chippas said today that the repayment was “a significant milestone for Argo

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Author: Mathew Di Salvo

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