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Argo Blockchain plc announced on July 1, 2024, the extension of its loan with Galaxy Digital Holdings Ltd. through to December 28, 2024. As of June 30, 2024, the loan's remaining balance was $5.7 million, reduced from the $35 million originally advanced in December 2022. The Company expects its monthly interest expense on the loan to reduce from $440,000 in July 2023 to $78,000 in July 2024.
| Date | 1 Jul 2024 |
| Time | 07:00:06 |
| Category | Corporate updates |
| ID | 4661U |
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:
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Argo Blockchain |
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Investor Relations |
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Tennyson Securities |
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Corporate Broker Peter Krens |
+44 207 186 9030 |
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Fortified Securities |
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Joint Broker Guy Wheatley, CFA |
+44 74930989014 |
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Tancredi Intelligent Communication UK & Europe Media Relations |
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.