UK Bitcoin mining company Argo Blockchain has announced a major restructuring agreement that will likely see over 80% of its equity acquired by US-based Growler Mining, marking a turning point for the struggling London-listed firm.
The deal comes after Argo warned in June that it needed urgent financial support to avoid “uncontrolled insolvency and liquidation.” Under the agreement, Growler Mining will provide a loan facility of up to $7.5 million (£5.5m) to finance the restructuring process.
Majority Stake and Potential Delisting
Argo Blockchain confirmed that Growler is expected to acquire the vast majority of its equity, which could lead to the company being delisted from the London Stock Exchange. Due diligence is still ongoing, but industry analysts expect the US group to become the dominant shareholder.
The company said the arrangement forms a key part of its broader Recapitalisation Plan announced on 30 June 2025.
CEO: “Preserving Operations and Value”
Argo Blockchain chief executive Justin Nolan said the agreement was the result of months of work to safeguard the company’s future.
“These agreements provide the funding and creditor support needed to carry the Recapitalisation Plan through the court process, and they represent another critical step toward delivering a significantly deleveraged balance sheet and a long-term strategic partnership with Growler,” Nolan said.
Court Approval Pending
The Bitcoin mining firm aims to secure court sanction for its recapitalisation plan by mid-December 2025. However, Argo warned that if the agreement fails, it may be forced to pursue insolvency proceedings.
The restructuring highlights the ongoing pressures facing cryptocurrency miners in the UK, with rising energy costs, market volatility, and tighter financing conditions putting further strain on operations.
