M&A Deal Summary

Galaxy Digital Acquires Argo Blockchain s Helios Facility

On December 28, 2022, Galaxy Digital acquired utilities company Argo Blockchain s Helios Facility from Argo Blockchain for 65M USD

Acquisition Highlights
  • This is Galaxy Digital’s 1st transaction in the Utilities sector.
  • This is Galaxy Digital’s largest (disclosed) transaction.
  • This is Galaxy Digital’s 1st transaction in the United States.
  • This is Galaxy Digital’s 1st transaction in Texas.

M&A Deal Summary
Date 2022-12-28
Target Argo Blockchain s Helios Facility
Sector Utilities
Buyer(s) Galaxy Digital
Sellers(s) Argo Blockchain
Deal Type Divestiture
Deal Value 65M USD

Target

Argo Blockchain s Helios Facility

Dickens, Texas, United States
Argo Blockchain's Helios Facility is a mining facility that includes a 126,000-square-foot data center and supports 200 MW of electricity (approximately 50,000 mining machines). In total, Helios has access to 800 MW of electricity from a neighboring substation. Additionally, the facility is designed to utilize Argo’s proprietary immersion-cooling technology which allows for cost-effective, high-speed mining in warmer climates. Argo Blockchain's Helios Facility is based in Dickens, Texas.

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Buyer(S) 1

Buyer

Galaxy Digital

New York, New York, United States
Category Company
Founded 2018
Sector Information Technology
Employees434
DESCRIPTION

Formed in 2018, Galaxy Digital is a diversified financial services firm dedicated to the digital asset, cryptocurrency, and blockchain technology industry. Galaxy Digital operates four synergistic business lines: Trading (arbitrage, macro, market making/OTC), Asset Management (passive and active strategies, including venture capital), Principal Investing, and Investment Banking Services (capital markets and M&A). The company is headquartered in New York City, with offices in San Francisco, Tokyo, Hong Kong, London, Vancouver, the Cayman Islands (registered office), and New Jersey.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Argo Blockchain

London, United Kingdom
Category Company
Founded 2017
Sector Information Technology
Employees30
Revenue 58M GBP (2023)
DESCRIPTION

Argo Blockchain is a blockchain technology company focused on large-scale Bitcoin mining. With sustainability as its top priority, Argo champions the use of renewable sources of power to support the growth and development of blockchain technologies. Argo also participates in several Web 3.0, DeFi, and GameFi projects through its Argo Labs division, further contributing to the development of the cryptocurrency markets. Argo Blockchain was formed in 2017 and is based in London.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
Mergr

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