Press release

27 September 2021

Argo Blockchain PLC

("Argo" or "the Company")

Closing of Offering

Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce the closing of its offering of an aggregate of 8,525,000 American Depositary Shares ("ADSs") representing 85,250,000 ordinary shares at a public offering price of $15.00 per ADS, for aggregate proceeds of approximately $127,875,000, before deducting underwriting discounts and commissions.

The number of ADS included in the offering comprises the 7,500,000 ADSs referred to in the Company's announcement of the pricing of the offering, released on 23 September 2021, together with a further 1,025,000 ADSs, which have been purchased by the underwriters pursuant to the option to purchase additional ADSs referred to in that announcement.

Each ADS offered represents 10 ordinary shares of Argo Blockchain. The ADSs were offered in a registered public offering in the United States (the "Offering"). Argo Blockchain's ADSs are trading on the Nasdaq Global Select Market under the ticker symbol "ARBK."

Jefferies and Barclays acted 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 was made only by means of a prospectus filed with the U.S. Securities and Exchange Commission. Copies of the prospectus relating to and describing the terms of the 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 Prospectus_Department@Jefferies.com; 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 barclaysprospectus@broadridge.com.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission 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 Nasdaq Global Select Market in the United States under the ticker: ARBK.