New York Digital Investment Group (NYDIG) will provide a $70.6 loan to UK-based mining company Argo Blockchain million to acquire equipment for a new data center in Texas.
The deal was concluded by the daughter companies NYDIG ABL LLC and Argo Helios LLC. The loan will have an annual interest rate of 12% and will mature in August 2024.
The loan will be secured by purchased equipment.
The company expects to receive 20,000 Bitmain Antminer S19j Pro miners from May to October. The company purchased the batch in September last year.
According to the statement share by the firm, the site is already installing similar devices received from Core Scientific under an equipment exchange agreement.
