Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP), the cryptocurrency miner, said it made net proceeds of US$38.6mln from a bond issue.
The company issued US$40mln of 8.75% senior notes due 2026, which are expected to begin trading on Nasdaq under the symbol ‘ARBL’.
Argo said it intends to use the proceeds for general corporate purposes, the construction and purchase of mining machines for its Texas cryptocurrency mining facility, and possibly also acquisitions or investments in complementary businesses in the cryptocurrency and/or blockchain technology industries.
Earlier this month, Argo told investors it mined a total of 167 Bitcoins (or equivalents) in the month of October, bringing the crypto mining tally to 1,646 for the year to date.
The company’s crypto holdings totalled 2,128 Bitcoins (or equivalents) at the end of the month.