Argo Blockchain Plc Adr (ARBK) has released an update.
Argo Blockchain plc successfully completed the sale of its Mirabel, Quebec data center for $6.1 million, significantly reducing its debt to Galaxy Digital Holdings by 63% to $12.8 million from the original $35.0 million. The proceeds also cleared the data center’s mortgage, with additional savings anticipated from operational consolidation in Quebec, expected to cut non-mining expenses by $0.7 million annually. In line with its strategic goals, the company issued new shares under its 2022 Equity Incentive Plan and maintains a total share capital of 577,616,315 ordinary shares post-transaction.
For further insights into ARBK stock, check out TipRanks’ Stock Analysis page.
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