Argo Blockchain mines 25% less Bitcoin due to winter storm at Helios
1 min read
Publicly-listed Bitcoin (
During the winter storm, Argo joined other Texas Bitcoin miners in reducing power usage by an estimated 1,500 MW, Wall said, adding:
“After the winter storm and associated freezing temperatures had subsided, we safely brought Helios back online and resumed operations.”
Wall mentioned that Argo eventually decided to sell its Helios facility to Galaxy Digital, announcing the $65 million deal on Dec. 28. The transaction aimed to reduce Argo’s total debt by $41 million and improve liquidity and operating structure.
Despite the sale, Argo will still continue mining at the Galaxy-owned Helios facility. Argo’s total hash rate capacity continues to be 2.5 exahashes-per-second, the announcement notes.
