Argo Blockchain, a Bitcoin mining enterprise based in the United Kingdom and traded on the London Stock Exchange, has initiated a restructuring arrangement. This deal anticipates that Growler Mining, a company from the United States, will gain control of more than 80% of Argo’s ownership shares.
Back in June, the company publicly stated its pursuit of a restructuring agreement and a loan, labeling the move as “essential to prevent an unmanaged collapse and asset liquidation.”
The proposed strategy, now with substantial agreement, outlines that Growler will offer a lending arrangement reaching up to $7.5 million (equivalent to £5.5 million). This capital will fund the firm’s reorganization, which will probably also lead to its removal from the London Stock Exchange.
Argo Blockchain is currently performing thorough examinations to determine exactly what percentage of the business will be transferred to Growler. It is broadly assumed that Growler will become the majority owner.
“When we unveiled our proposed Recapitalization Strategy on June 30, 2025, I pointed out that the transaction was the result of a process spanning months, aimed at maintaining Argo’s activities and increasing value for our investors,” noted Justin Nolan, Chief Executive Officer of Argo Blockchain.
“These agreements supply the necessary financing and creditor support to execute the Recapitalization Strategy through the legal system. They also signify a crucial advance toward attaining a considerably less indebted financial status and a lasting strategic partnership with Growler.”
Argo aims to secure court approval for its recapitalization initiative by the middle of December of the current year. The company cautioned that if it cannot proceed with the proposed plan, it might “need to start insolvency procedures.”