Growler Mining, the largest creditor of Argo, will assume control of the crypto mining company via a debt-to-equity swap. This agreement allows Growler Mining to convert its outstanding debt into equity ownership of Argo. The transaction is seen as a strategic move to help stabilize Argo, which has faced significant financial challenges. The debt-to-equity swap represents a common practice in the industry, enabling creditors to recover investments when companies struggle. As a result of this takeover, Growler Mining will gain a stake in Argo, which may impact its operations moving forward.
