Galaxy Digital CEO Mike Novogratz stated that he believes bear markets are ideal opportunities to continue improving. According to his latest tweet, the famous CEO maintains his faith in Bitcoin (BTC) in the long run. Earlier today, it was announced that Argo Blockchain has agreed to sell Dickens County-Texas-based mining facility Helios to Galaxy Digital for 65 million dollars to avoid filing for bankruptcy protection.
Galaxy will also refinance Argo’s debt. The transaction is scheduled to be completed by the end of this month. Novogratz sees the firm’s acquisition of Helios as an important step towards “building for the decentralized future”.
According to the billionaire, the latest acquisition will not only expand Galaxy Digital’s mining capacity, but also work as a “hosting hub” for other miners. The company started mining Bitcoin in 2021 and at that time acquired most of its operations from hosting providers.