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Evening Standard
Evening Standard
Business
Simon Hunt

London crypto firm Argo sells Bitcoin mine to Galaxy Digital to shore up finances

Argo Galaxy Galaxy Digital Bitcoin Crypto London Mining Nasdaq New York

London-based crypto firm Argo has agreed to sell its Bitcoin mining facilities to New York-based Galaxy Digital as part of a $100 million deal to shore up its shaky finances.

The business is set to sell its Helios mining facility in Texas to Galaxy for $65 million (£54 million), as well as secure a new $35 million (£29 million) loan from the firm in a bid to pay off its existing debts.

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