Argo Blockchain's Financing Structure Deal With GEM Mining Ends

Dow Jones

04/14

By Najat Kantouar

Argo Blockchain said its previously announced financing structure with GEM Mining is no longer progressing but that it is continuing to discuss financing proposals with the privately held institutional-grade Bitcoin miner and other parties.

In March, blockchain technology company Argo entered into nonbinding agreement for a convertible loan and to buy GEM for up to $21.7 million.

As part of the deal, certain GEM institutional investors would provide Argo with $10 million, consisting of a $7.0 million secured convertible note and $3.0 million equity investment into Argo's blockchain.

Write to Najat Kantouar at najat.kantouar@wsj.com

(END) Dow Jones Newswires

April 14, 2025 03:00 ET (07:00 GMT)

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