Blockchain

Argo Blockchain PLC Announces Equipment Financing Agreement with NYDIG

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LONDON, UK / ACCESSWIRE / March 10, 2022 /Argo Blockchain PLC (“Argo” or “the Company”), a global leader in cryptocurrency mining (LSE:ARB) (NASDAQ:ARBK), announces that Argo Helios LLC (“Argo Helios”), a wholly owned subsidiary proprietary Argo Blockchain registered in Delaware plc, has entered into an 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 financing agreement, NYDIG loaned Argo Helios an aggregate principal amount of $26.66m (£20.23m)* to recapitalize the purchase of power infrastructure equipment ( the “Funded Equipment”) for the Company’s flagship cryptocurrency mining facility, Helios, in Dickens County, Texas. The Company expects to be able to power the 200 MW Helios facility and remains on track to complete the facility in the first half of 2022.

The total principal amount outstanding bears interest at the rate of 8.25% per annum and has a term of four years. Current borrowings under the Financing Contract are guaranteed by the Financed Equipment and the Financed Equipment acquisition contracts.

* Exchange rate correct as of March 9, 2022

Peter Wall, Managing Director of Argo, said: “We are delighted to secure this non-dilutive financing which will allow us to take a crucial step in the development of our Helios site. NYDIG is one of the leading financing companies of bitcoin in the industry and we are excited to leverage their insights and insight into the industry in this newly formed relationship.”

Josh Burandt, Head of Mining Services at NYDIG, said, “The mission of our mining services business is to help secure the bitcoin network by supporting the growth of the world’s leading bitcoin miners. In furtherance of this mission, we are delighted to partner with Argo and will provide infrastructure funding for the launch of their state-of-the-art facility in Texas. »

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’s plans and objectives of the Company for the 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 in accordance with the statements forward-looking statements contained herein, such results may not be indicative of results in 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.

For more information, please contact:

Argo Blockchain

stone wall

General manager

via Tancred +44 203 434 2334

finnCap Ltd

business Finance

Jonny Franklin Adams

Tim Harper

Joint corporate broker

Sunila de Silva

+44 207 220 0500

Tennyson Titles

Joint corporate broker

Peter Krens

+44 207 186 9030

OTC markets

Jonathan Dickson

[email protected]

+44 204 526 4581

+44 7731 815 896

Tancredi smart communication

Media Relations in the UK and Europe

Emma Valgimigli

Emma Hodges

Fabio Galloni Roversi Monaco

Nasser Al-Sayed

[email protected]

+44 7727 180 873

+44 7861 995 628

+44 7888 672 701

+44 7915 033 739

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.

This information is provided by RNS, the information service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a primary information provider in the UK. Terms and conditions relating to the use and distribution of this information may apply. For more information, please contact [email protected] or visit www.rns.com.

THE SOURCE: Argo Blockchain PLC

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