on Argo Blockchain PLC (LON:ARB)

Argo Blockchain PLC Announces Loan Extension

Argo Blockchain plc, a leader in cryptocurrency mining using renewable energy, has extended its loan with Galaxy Digital Holdings Ltd. through December 28, 2024. The outstanding loan balance, originally $35 million in December 2022, now stands at $5.7 million as of June 30, 2024.

The extension will result in a significant reduction of monthly interest expenses for Argo Blockchain. The interest payment will decrease from $440,000 in July 2023 to $78,000 in July 2024, aligning with the company's financial strategy to lower operational costs.

This extension allows Argo Blockchain to further solidify its financial standing while continuing its focus on sustainable and large-scale cryptocurrency mining operations in Quebec and Texas.

R. P.

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