Growler Mining secures 87.5% stake in struggling Argo as part of significant takeover

Growler Mining takes control of Argo Blockchain by acquiring 87.5% equity. This follows a debt-for-equity swap involving $7.5 million in loans, leading to a restructuring plan aiming to stabilize the company.

As part of the restructuring, Argo will delist from the London Stock Exchange and redirect its focus to Nasdaq. The company’s Bitcoin output has decreased dramatically, raising concerns about profitability.