Argo Blockchain PLC Announces Additional Equipment Funding from NYDIG

LONDON, UK / ACCESSWIRE / May 4, 2022 / Argo Blockchain PLC (“Argo” or “the Company”), a world leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), announces that Argo Helios LLC (“Argo Helios”), a wholly owned subsidiary of Argo Blockchain plc, has closed loans under Argo’s equipment financing agreement (the “Funding Agreement”) with NYDIG ABL LLC (“NYDIG”), a wholly owned subsidiary of New York Digital Investment Group LLC.

As part of the additional financing, NYDIG will lend Argo Helios an aggregate principal amount of up to $70.60m (£56.3m)*, subject to customary drawdown conditions, to recapitalize the purchase of digital asset mining equipment (the “Funded Equipment”) for the Company’s flagship cryptocurrency mining facility, Helios, in Dickens County, Texas. Current borrowings under the Financing Contract are guaranteed by the Financed Equipment and the Financed Equipment acquisition contracts.

The main conditions of each loan are as follows:

Loan amount Funding date Interest rate Loan maturity

$9.55 million April 29, 2022` 12.00% May 10, 2024

$9.55 million April 29, 2022` 12.00% May 10, 2024

Up to $6.99 million May 31, 2022` 12.00% June 10, 2024

Up to $6.99 million May 31, 2022` 12.00% June 10, 2024

Up to $10.23 million May 31, 2022` 12.00% June 10, 2024

Up to $10.23 million June 30, 2022` 12.00% July 10, 2024

Up to $8.53 million July 29, 2022` 12.00% August 10, 2024

Up to $8.53 million July 29, 2022` 12.00% August 10, 2024

Peter Wall, Managing Director of Argo, said, “We are delighted to secure this additional non-dilutive funding which will allow us to continue to equip Phase 1 of our Helios site. NYDIG understands the financial needs of large bitcoin miners and we are excited to continue working with them to execute and deliver Argo’s next phase of growth. »

Josh Burandt, Head of Mining Services at NYDIG, said, “NYDIG is pleased to provide additional funding to Argo to complete the next phase of growth at its Helios site. This partnership will contribute to NYDIG’s goal of securing the bitcoin network and supporting growth. of the world’s leading Bitcoin miners. We are pleased to support the growth of Argo’s state-of-the-art Texas facility, and look forward to growing the partnership across all verticals.

The story continues

* Exchange rate correct as of May 3, 2022

Inside information and forward-looking statements

This announcement contains inside information and includes forward-looking statements which reflect the current opinions, interpretations, beliefs or expectations of the Company or, as applicable, of the Directors regarding the financial performance, business strategy and management plans and objectives of the Company for future operations. . These statements include forward-looking statements regarding both the Company and the sector and industry in which the Company operates. Statements that include the words “expects”, “intends”, “plans”, “believes”, “projects”, “anticipates”, “will”, “targets”, “aims”, “may “, “would”, “could”, “continue”, “estimate”, “future”, “opportunity”, “potential” or, in each case, negatives thereof, and similar statements of a future or forward-looking nature identify statements forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties because they relate to events that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. Accordingly, there are or there will be important factors that could cause the Company’s actual results, prospects and performance to differ materially from those set forth in such statements, and even if the Company’s actual results, prospects and performance are consistent with the forward-looking statements ives contained herein, these results may not be indicative of results for subsequent periods. These forward-looking statements speak only as of the date of this announcement. Subject to any obligations under the Prospectus Rules, the Market Abuse Rules, the Listing Rules and the Disclosure and Transparency Rules and unless required by the FCA, London Stock Exchange, City Code or applicable laws and regulations, the Company undertakes no public obligation to update or review any forward-looking statements, whether as a result of new information, future developments or otherwise. For a more complete discussion of factors that could cause our actual results to differ from those described in this announcement, please refer to the Company’s filings from time to time with the United States Securities and Exchange Commission and the UK Financial Conduct Authority, including the section entitled “Risk Factors” in the company’s registration statement on Form F-1.

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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, United Kingdom, and its shares are listed on the main market of the London Stock Exchange under the symbol: ARB and on the Nasdaq Global Select Market in the United States under the symbol: ARBK.

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THE SOURCE: Argo Blockchain PLC

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