TechFlow news: Bitcoin mining company Argo Blockchain has announced it has fully repaid the $35 million loan it received in 2022 from asset management firm Galaxy Digital. The loan was originally intended to help the company avoid bankruptcy during the 2022 crypto bear market.
Argo CEO Thomas Chippas called the repayment a "significant milestone," noting that the process had "no material impact on Argo's hashing power." As of the end of 2023, Argo's hashing power reached 2.7 EH/s, accounting for approximately 0.4% of Bitcoin network's total hashrate (677.43 EH/s). In July this year, Argo mined an average of 1.5 bitcoins per day, with a monthly output of 48 bitcoins.
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