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Argo Blockchain Bitcoin Miner Aims to Double Hashrate with GEM Mining Acquisition
Argo Blockchain (LSE: ARB; NASDAQ: ARBK), the publicly listed London and Wall Street Bitcoin (BTC) miner, announced today (Wednesday) that it has entered into non-binding term sheets to acquire assets from GEM Mining and secure additional financing, a move that could potentially double its mining capacity. The proposed transaction includes the acquisition of GEM Mining's assets for up to $21.7 million in Argo shares, as well as a $10 million investment from GEM's institutional investors. If completed, the deal would add 2.4 exahash of mining power to Argo's operations, significantly boosting its Bitcoin production ... (full story)
