Argo Blockchain PLC Loan Extension
July 01 2024 - 1:00AM
RNS Regulatory News
RNS Number : 4661U
Argo Blockchain PLC
01 July 2024
Press release
1 July 2024
Argo Blockchain
plc
('Argo'
or 'the Company')
Extension of Galaxy
Loan
Argo Blockchain plc, (LSE: ARB;
NASDAQ: ARBK), a global leader in cryptocurrency mining using
predominantly renewable energy, announces the extension of its loan
with Galaxy Digital Holdings Ltd. ("Galaxy") through to
December 28, 2024. As of
June 30, 2024, the remaining balance of the loan is $5.7 million,
which has been reduced from the $35 million originally advanced in
December 2022. With this further loan repayment, the Company
expects reduced monthly interest expense on the loan from $440k in
July 2023 to $78k in July 2024.
This announcement contains inside
information.
For further information please
contact:
About Argo:
Argo Blockchain plc is a
dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company
focused on large-scale cryptocurrency mining. With mining
operations in Quebec and Texas, and offices in the
US, Canada, and the UK, Argo's global, sustainable
operations are predominantly powered by renewable energy. In 2021,
Argo became the first climate positive cryptocurrency mining
company, and a signatory to the Crypto Climate Accord. For more
information, visit www.argoblockchain.com.
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