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Billionaire Mike Novogratz’s Galaxy Digital To Buy Argo Blockchain’s Main Facility

According to the latest reports, the crypto investment firm Galaxy Digital is about to buy the main facility to Bitcoin miner Argo Blockchain’s facility for $65 million. Check out the latest details about the deal below.

Galaxy Digital to buy Argo Blockchain’s main facility

According to Argo, billionaire Mike Novogratz’s crypto investment firm is buying the mining facility known as Helios in Dickens Country, Texas. It will reportedly provide the struggling company with a $35 million loan.

Argo was thrown into financial troubles when Bitcoin’s price plummeted this year. With this sale, Argo could be able to avoid filing for bankruptcy protection.

Argo CEO Peter Wall stated the following:

“This transaction with Galaxy is a transformational one for Argo and benefits the company in several ways.”

The notes continued and revealed the following:

“It reduces our debt by $41 million and provides us with a stronger balance sheet and enhanced liquidity to help ensure continued operations through the ongoing bear market. It also allows us to focus on optimizing our operations with significantly lower Capex and Opex requirements.”

The latest news in the crypto space  – Fidelity makes waves in the crypto space

Fidelity Investments has filed a trademark application that reveals the financial services giant’s plans for the metaverse and digital collectibles.

As the online publication the Daily Hodl notes, on digital collectibles, Fidelity Investments says in the trademark application dated December 21st that it plans to offer an “online marketplace for buyers and sellers of digital media, namely, non-fungible tokens (NFTs) featuring textual and graphic content.”

Fidelity also plans to offer NFTs. This is according to the trademark application.

Fidelity also explained that it plans to provide some of the financial services it already offers in the metaverse such as investment management. In order to learn more details about this, make sure to check out the previous article we shared. 

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