Argo Blockchain Extends Loan with Galaxy Digital, Cuts Interest Expenses
Portfolio Pulse from Benzinga Newsdesk
Argo Blockchain has extended its loan with Galaxy Digital until December 28, 2024, significantly reducing its interest expenses. The remaining loan balance is now $5.7 million, down from $35 million in December 2022. Monthly interest expenses are expected to drop from $440k in July 2023 to $78k in July 2024.
July 01, 2024 | 6:55 am
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Argo Blockchain has extended its loan with Galaxy Digital, reducing its interest expenses significantly. The remaining loan balance is now $5.7 million, down from $35 million in December 2022. Monthly interest expenses are expected to drop from $440k in July 2023 to $78k in July 2024.
The extension of the loan and the significant reduction in interest expenses will likely improve Argo Blockchain's financial health, positively impacting its stock price in the short term.
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