Bitcoin Miner Argo Blockchain Raises $27M to Ease Liquidity Pressures, Shares Plunge 15%

In addition to issuing 87 million shares, which equates to around 15% of the business, Argo announced the sale of 3,400 Antminer S19 J Pro miners to a third party for a total of $7 million. The sale of mining equipment will cause a reduction in hash rate, Wall added.