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The company said it expects to be able to energize and complete the 200 MW facility in the first half of this year.

Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) has announced that it has taken out a $26.66 million (£20.23 million) equipment finance loan to cover the purchase of electrical infrastructure equipment for its Helios cryptocurrency mining. settling in Texas.

The company said it expects to be able to energize and complete the 200 MW facility in the first half of this year.

US subsidiary Argo Helios accepted a four-year loan from NYDIG at an annual interest rate of 8.25%, secured by the equipment.

Peter Wall, Managing Director of Argo, said: “We are delighted to secure this non-dilutive financing which will allow us to take a crucial step in the development of our Helios site.

NYDIG is one of the industry’s leading bitcoin finance companies and we’re excited to leverage their knowledge and insight into the industry in this newly formed relationship.”

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