Blockchain

Argo Blockchain Announces Galaxy Loan Extension

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5 months ago

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

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

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

Argo Blockchain plc is a publicly traded blockchain technology company (LSE: ARB; NASDAQ: ARBK) 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, sustainable operations are predominantly powered by renewable energy.

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