Over a period of time the active development stops on various projects and we don't need those using our private repo slots in GitHub (which ultimately leads to hogging up $$$ for those projects). To avoid this we archive our GitHub repo and free up the paid slots from GitHub.
Step-by-Step process to create bundle of an entire Git repo, and, subsequently extracting it and transferring it to another Git repo.
With this, closed project can be archived into a single file and saved at some other location. Whenever needed it can be brought back with the entire commit history of the branches.