Galaxy Digital pops day after Argo mining acquisition announcement

by Christiana Loureiro

Equities • December 29, 2022, 5:57PM EST

The Block

Quick Take

Other crypto-related stocks closed the day mixed.
Bitcoin and ether were higher over the past 24 hours.

Galaxy Digital shares rose more than 13% a day after saying it would buy Argo Blockchain's Helios mining facility.

The company will pay $65 million for the facility and will also provide a $35 million loan to Argo.

GLXY Chart via TradingView

Other crypto-related stocks saw mixed performances, with Silvergate down 1.4% and Coinbase up 0.8%. Traditional markets rose, with the S&P 500 closing up 1.75% and the Nasdaq up 2.59%.

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Bitcoin and ether were higher, up 0.8% and 1%, respectively, over the 24 hours before 5:30 p.m. EST.

Avalanche's AVAX continued to gain over Solana's SOL, expanding the spread between the two.

About Author

Christiana is a long-time journalist who has written about markets in the Americas, politicians who stashed cash in their underwear and high-end heels, to name just a few. She previously spent six years at Bloomberg, and her work has appeared in the WSJ, LA Times, Insider, Vogue Business and more. Christiana has a bachelor's degree in English from Pace University and a master's degree in journalism from New York University. She completed a master's degree in media psychology for fun.