Argo Blockchain has signed a $40 million financing agreement.

BlockBeats News, March 4th, Bitcoin mining firm Argo Blockchain announced that it has entered into a $40 million senior secured convertible loan agreement, with an initial financing of $15 million and the remaining $25 million to be funded over the next 18 months. Three multinational institutions have participated in the investment (specific institution names have not been disclosed at this time) and will join Argo's board of directors. The new funds will be used to expand its mining facility in Baie Comeau, strengthen its balance sheet, and pursue a series of potential merger and acquisition transactions.