Argo Blockchain Plc surged in London trading after agreeing to sell its Helios Bitcoin mining facility to Galaxy Digital Holdings Ltd. for approximately $65 million, providing some relief to the beleaguered company. On the news, Argo shares surged up to 140%, and were up 90% at 1:17 p.m. in London. Even so, the stock is down 92% for the year. According to a statement released on Wednesday, Galaxy also agreed to provide Argo with a senior secured loan worth $35 million, backed by a collateral package that includes mining equipment. Argo’s debt will be reduced by $41 million as a result of the transactions, according to the company.
