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Argo Blockchain files for $57.5 million offering of secured notes to fund Texas mining facility
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United Kingdom-based crypto mining company Argo Blockchain will be funding part of the building and equipment of its planned 800-megawatt data center in West Texas through an offering of senior notes.
According to a Monday filing with the Securities and Exchange Commission (SEC), Argo plans to offer $57.5 million worth of 8.75% senior unsecured notes set to mature on Nov. 30, 2026. The company said it intends to use the proceeds for rigs at its Texas crypto mining facility as well as construction costs.
Argo broke ground on the 200 MW crypto mining facility in July, reporting the site would give the company “access to up to 800 MW of electrical power” for its future operations if it chooses to acquire and develop all available land.
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