Argo Blockchain, a British-based bitcoin mining company, sold more Bitcoin (BTC) than was mined in June

Cryptophoto, a cryptocurrency media outlet, sold 637 BTC last month for about $ 24,500 on the 7th (local time)

Mined assets were much less than 179 BTC, the report said.

Argo Blockchain is currently in the market and is forced to sign a loan contract with investment management company Galaxy Digital led by Mike Novogratz

The 637 BTC had to be sold at an average price of about 24,500 dollars.

In September 2021, Argo Blockchain secured a $25 million Bitcoin mortgage from Galaxy Digital.

The financing was intended to push forward the company’s expansion plans in West Texas and meet cash flow requirements.

In its most recent announcement, Argo Blockchain said 637 BTC should be sold in June to reduce contract obligations. As of the end of last month, the company’s credit balance was $22 million.

By writer

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