Nasdaq-listed bitcoin miner Argo Blockchain announced that it has signed a senior secured convertible loan agreement with a financing scale of 40 million US dollars. The initial financing amount is 15 million US dollars, and the remaining 25 million US dollars will be completed in the next 18 months. Three multinational institutions participated in the investment (the name of the specific institution has not been disclosed) and will join the Argo board of directors. The new funds will be used to expand its Baie Comeau mining facility, strengthen its balance sheet and conduct a series of potential mergers and acquisitions.