Celsius Resolution of Claims

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 Chief Executive	via Tancredi [phone]
finnCap Ltd
Corporate Finance Jonny Franklin-Adams Tim Harper Joint Corporate Broker Sunila de Silva	[phone]
Tennyson Securities
Joint Corporate Broker Peter Krens	[phone]
OTC Markets
Jonathan Dickson [e-mail]	[phone] [phone]
Tancredi Intelligent Communication UK & Europe Media Relations
Emma Valgimigli Emma Hodges Salamander Davoudi Fabio Galloni-Roversi Monaco [e-mail]	[phone] [phone] [phone] [phone]

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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