Galaxy Digital acquires Argo and Helios Bitcoin Mining Facility for $100 million

Galaxy Digital pays $100 million for Argo and Helios Bitcoin Mining Facility in the middle of imminent bankruptcy.

This is a win-win situation for both corporations because the Bitcoin mining plant is on the point of bankruptcy, and the acquisition will save it.

Argo will also receive up to $35 million in loans from Galaxy Digital. Another company, Genesis Global, obtained these loans from sibling companies in order to avoid bankruptcy and keep its operations running.

US officials are now working to focus on crypto legislation for everybody, with the goal of avoiding the same fate for other trading platforms.

It was almost as though Helios and Argo would follow in the footsteps of the bankrupt corporations, but this acquisition from Galaxy Digital saves the day.