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Argo Blockchain Announces Galaxy Loan Extension

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5 months ago

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Cryptocurrency miner Argo Blockchain plc (LON:ARB) announces the extension of its loan with Galaxy Digital Holdings Ltd until December 28, 2024.

As of June 30, 2024, the remaining loan balance is $5.7 million, down from the $35 million originally disbursed in December 2022.

With this additional loan repayment, the Company expects to reduce its monthly interest expense on the loan from $440,000 in July 2023 to $78,000 in July 2024.

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 United States, Canada and the United Kingdom, Argo’s global and sustainable operations are predominantly powered by renewable energy.

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