PANews reported on March 4 that according to official news, Bitcoin mining company Argo Blockchain announced that it has signed a $40 million priority secured convertible loan agreement, with an initial financing amount of $15 million. The remaining $25 million will be completed in the next 18 months. Three undisclosed multinational institutions have participated in the investment and will join Argo's board of directors. The new funds will be used to expand its mining facilities in Baie Comeau, enhance the balance sheet and conduct a series of potential mergers and acquisitions.