23 September 2021

Argo Blockchain PLC

("Argo" or "the Company")

Pricing of Initial Public Offering

Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce the pricing of its initial public offering of 7,500,000 American Depositary Shares ("ADSs"), representing an aggregate of 75,000,000 ordinary shares, at a public offering price of $15.00 per ADS. The Company has raised aggregate gross proceeds of $112,500,000, before deducting underwriting discounts and commissions. Each ADS offered represents 10 ordinary shares of Argo Blockchain. In addition, Argo Blockchain has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ADSs at the public offering price, less underwriting discounts and commissions. The ADSs are being offered in a registered public offering in the United States (the "Offering"). The ADSs are expected to begin trading on the Nasdaq Global Market under the ticker symbol "ARBK" on September 23, 2021, and the Offering is expected to close on September 27, 2021, subject to the satisfaction of customary closing conditions.

Jefferies and Barclays are acting as joint book-running managers for the Offering. Canaccord Genuity and Stifel GMP are acting as co-lead managers for the Offering. Compass Point, D.A. Davidson & Co., Ladenburg Thalmann, Roth Capital Partners, finnCap Ltd, and Tennyson Securities are acting as co-managers for the Offering. The Offering is being made only by means of a prospectus filed with the U.S. Securities and Exchange Commission. When available, copies of the final prospectus relating to and describing the terms of the proposed Offering may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 821-7388 or by email at [email protected]; or from Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 1-888-603-5847, or by emailing [email protected].

A registration statement relating to these securities has been filed with the SEC and became effective on September 22, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such state or jurisdiction.

This announcement contains inside information.

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About Argo:

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.