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Argo Blockchain reaches settlement with Celsius

Published 08/12/2021, 08:50
Updated 08/12/2021, 08:51
© Reuters.
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By Samuel Indyk

Investing.com – London-listed cryptocurrency miner Argo Blockchain PLC (LON:ARB) has announced it has reached an “amicable resolution” with Celsius over their respective claims in the litigation pending in the New Jersey federal court.

Under the settlement, the two parties have terminated their 2nd November 2020 lease agreement with Argo paying $6.32 million to Celsius to satisfy its remaining obligations.

Furthermore, Argo has agreed to terminate its mining services arrangement with Celsius in return for a payment from Celsius to Argo in the form of Bitcoin.

No further details regarding the settlement were disclosed.

At 08:49GMT, Argo Blockchain shares were trading higher by 4.2% at 110 pence per share.

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