Argo Blockchain Dodges Bankruptcy Thanks To Galaxy Digital
![](https://news.ucwe.com/wp-content/uploads/2022/07/ucwnewswire_bitcoin1-1024x576.png)
![Share on Facebook Facebook](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/facebook.png)
![Share on Twitter twitter](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/twitter.png)
![Share on Reddit reddit](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/reddit.png)
![Pin it with Pinterest pinterest](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/pinterest.png)
![Share on Linkedin linkedin](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/linkedin.png)
![Share on tumblr tumblr](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/tumblr.png)
![Share by email mail](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/mail.png)
Looks like a big bullet may have been dodged by the bitcoin miner Argo Blockchain, they made a deal with Mike Novagratz’s Galaxy Digital that entails them selling their Helios mining operations in Dickens Country, Texas for a modest $65MM.
On top of that Novagratz, through his crypto focused firm, has extended them a $35MM secured loan, and yes secured by their mining equipment. Now even though this will be a punch in the arm for Argo’s balance sheet, the prospect of bitcoin falling lower can impact their overall mining business.
Only time will tell if this was a lifeline that could push Argo back in the black or is just delaying what could potentially happen if bitcoin continues to slip after the New Year.
-UCW Newswire
![Share on Facebook Facebook](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/facebook.png)
![Share on Twitter twitter](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/twitter.png)
![Share on Reddit reddit](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/reddit.png)
![Pin it with Pinterest pinterest](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/pinterest.png)
![Share on Linkedin linkedin](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/linkedin.png)
![Share on tumblr tumblr](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/tumblr.png)
![Share by email mail](https://news.ucwe.com/wp-content/plugins/social-media-feather/synved-social/image/social/regular/48x48/mail.png)