Sale of Helios Facility to Galaxy Digital Holdings Ltd.

“This transaction with Galaxy is a transformational one for Argo and benefits the Company in several ways. It reduces our debt by $41 million (£34 million) and provides us with a stronger balance sheet and enhanced liquidity to help ensure continued operations through the ongoing bear market.”
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Commentary Highlights
Announcement of Transformational Strategic Transactions with Galaxy Digital Holdings, Ltd.
Argo sells Helios to Galaxy for $65 million (£54 million)

Argo’s subsidiary sells its Helios facility to Galaxy for $65 million (£54 million) and refinances equipment-backed loans with new $34 million (£28 million) loan with Galaxy.

Argo maintains ownership of all mining machines and will host machines at Helios

Transactions reduce total indebtedness by $42 million (£34 million) and simplify Argo’s operating structure.Transactions strengthen Argo’s balance sheet, improve Argo’s liquidity position, and enable the Company to continue operations.

Reduces debt by $41 million (£34 million) and improves liquidity position

Argo maintains ownership of all its mining machines, and Galaxy will host Argo’s fleet of Bitmain S19J Pros at Helios.