TIDMARB

RNS Number : 8945U

Argo Blockchain PLC

08 December 2021

Press Release

08 December 2021

Argo Blockchain PLC

("Argo" or "the Company")

Celsius Resolution of Claims

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK) announces that they have reached an amicable resolution with Celsius, of their respective claims in the litigation pending in New Jersey federal court. Pursuant to the resolution: (i) the parties entered into an amendment terminating their November 2, 2020 lease agreement, whereby Argo paid Celsius US $6,320,947.64 in satisfaction of its remaining financial obligations to Celsius and Celsius conveyed title to Argo for the Bitmain S19 Antminer S19 Pro mining machines covered by the lease and (ii) Argo agreed to terminate its mining services arrangement with Celsius in return for a payment from Celsius to Argo in the form of Bitcoin. The remaining terms of the resolution were not disclosed.

For further information please contact:

 
  Argo Blockchain 
  Peter Wall                             via Tancredi +44 203 
   Chief Executive                        434 2334 
                                       ---------------------- 
  finnCap Ltd 
                                       ---------------------- 
  Corporate Finance 
   Jonny Franklin-Adams 
   Tim Harper 
   Joint Corporate Broker 
   Sunila de Silva                       +44 207 220 0500 
                                       ---------------------- 
  Tennyson Securities 
                                       ---------------------- 
  Joint Corporate Broker 
   Peter Krens                           +44 207 186 9030 
                                       ---------------------- 
  OTC Markets 
                                       ---------------------- 
  Jonathan Dickson                       +44 204 526 4581 
   jonathan@otcmarkets.com                +44 7731 815 896 
                                       ---------------------- 
  Tancredi Intelligent Communication 
   UK & Europe Media Relations 
                                       ---------------------- 
  Emma Valgimigli 
   Emma Hodges 
   Salamander Davoudi                    +44 7727 180 873 
   Fabio Galloni-Roversi                  +44 7861 995 628 
   Monaco                                 +44 7957 549 906 
   argoblock@tancredigroup.com            +44 7888 672 701 
                                       ---------------------- 
 

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.

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END

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December 08, 2021 02:00 ET (07:00 GMT)

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