The bitcoin mining company Argo Blockchain has acquired the U.S. Securities and Exchange Commission (SEC) filed a registration statement for a proposed public offering on November 30, 2026 at an interest rate of 8.75% senior notes. The UK-based company plans to raise a total of $ 57.5 million to the public through the sale of bonds and offering them in increments of $ 25. They intend to use the funds to build Argos crypto-mining facility in Texas, which will power 90% of the operation from renewable sources and which is estimated to cost around $ 2 billion.
Our mining strategy is to cost-effectively acquire and deploy the most advanced mining technology solutions in North American facilities that use predominantly renewable and inexpensive energy.
The company will also use the net proceeds for “general corporate purposes” and “possibly acquisitions or investments in ancillary companies” while exploring “strategic initiatives in software and other technologies in the broader cryptocurrency and blockchain sectors”.
In connection with the Offering, Argo has applied for the Notes to be listed on the Nasdaq Global Select Market (“Nasdaq”) under the symbol “ARBKL”. Upon admission to listing, trading on the Nasdaq is expected to commence within 30 business days of the initial issue of the Notes.
The filing states that Argo Blockchain completed its US initial public offering of 8,525,000 American Depositary Shares in September at a price of $ 15.00 per share with net proceeds of approximately $ 114.8 million. Later in the month they held 1,836 bitcoin and bitcoin equivalents “valued at approximately 58.7 million growth rate of 238%” over £ 14.9 million (20.2) million for the nine months ended September 30, 2020 ” .
Related reading | Argo Blockchain secures a $ 20 million loan with Galaxy Digital LP
Bitcoin mining revenue and strategy
Argo’s mining sales rose 32% in October, totaling $ 9.75 million, after mining 167 bitcoins or bitcoin equivalents, compared to 165 in September with sales of $ 7.59 million. Monthly income was made with a bitcoin mining margin of around 84%. The company reported a total of 1,646 Bitcoin mined so far this year and owned 2,128 Bitcoin or a Bitcoin equivalent by the end of October. They also announced a mining expansion resulting from an increase in total capacity of 220 PH / s, “bringing the company’s mining capacity to 1.295 EH / s”. Recently, Argo Blockchain announced that it was investing in building an 800-megawatt crypto mining facility in Texas, which could cost anywhere from $ 1.5 billion to $ 2 billion. It is being built on 320 acres of land that was purchased for $ 17.5 million. Questions were raised about Argo’s ambiguity about the cost of the mining facility, but Argo explained the estimated cost of construction and equipment based on “numerous guesses” and defended the investment.
Our investments in mining facilities are designed to significantly expand our mining capabilities and give us meaningful control over our mining operations. We are taking these steps as part of a broader strategy to shift our business from contracting out our mining equipment to owning and operating our facilities.
Related reading | Bitcoin Mining vs. The World: BTC is a leader in sustainable energy
Argo Blockchain is listed on the NASDAQ Global Market and has a market capitalization of approximately $ 863 million.
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