Argo Blockchain restructures debt, expands mining fleet to Alabama

Argo Blockchain (NASDAQ: ARBK) finalized a restructuring plan on Tuesday that eliminates $40 million in senior debt. The transaction closes a reorganization formally approved by the High Court of Justice in England and Wales on December 11. The plan equitized $40 million in outstanding 8.75% senior notes due 2026 to strengthen Argo’s balance sheet. This reorganization leaves Argo debt-free, excluding a $472k remaining mortgage on its Baie-Comeau facility in Quebec, Canada. Argo increased its nameplate ...