Press Release
3 May 2024
Argo Blockchain
plc
("Argo"
or "the Company")
April Operational
Update
Grant of Equity
Awards
Argo Blockchain plc (LSE: ARB;
Nasdaq: ARBK), a global leader in cryptocurrency mining, is pleased
to provide the following operational update for April
2024.
During the month of April, the
Company mined 99 Bitcoin, or 3.3 Bitcoin per day (March 2024 - 103
Bitcoin). Daily Bitcoin production in April remained the same as
the prior month despite the Bitcoin halving occurring on 19 April
2024. This is primarily due to a temporary but significant spike in
transaction fees in the days immediately following the
halving.
Mining revenue in April 2024
amounted to $6.6 million, a decrease of 6% compared to the prior
month (March 2024: $7.0 million).
As of 30 April 2024, the Company
held digital assets worth the equivalent of 12 Bitcoin.
Grant of Equity Awards
On 9 March 2024, the Company granted
7,372,184 Restricted Stock Units ("RSUs") to certain employees in
accordance with the 2022 Equity Incentive Plan approved by
shareholders at the Company's 2022 Annual General Meeting. The RSUs
vest over a three-year period, with first vesting occurring six
months from the date of grant (at which point 6/36ths vest) and,
thereafter, the RSUs vest at a rate of 3/36th per quarter for
the remainder of the vesting period subject to the continued
employment of the grantee.
On 9 March 2024, the Company also granted 172,867 Performance Stock
Units ("PSUs") to certain employees in accordance with the 2022
Equity Incentive Plan approved by shareholders at the Company's
2022 Annual General Meeting. The PSUs vest over a three-year
period, with first vesting occurring six months from the date of
grant (at which point 6/36ths vest) and, thereafter, the PSUs vest
at a rate of 3/36th per quarter for the remainder of the
vesting period subject to the continued employment of the
grantee and satisfaction of the corresponding performance
conditions.
This announcement contains inside
information.
For further information please
contact:
About Argo:
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
US, Canada, and the UK, Argo's global, sustainable
operations are predominantly powered by renewable energy. In 2021,
Argo became the first climate positive cryptocurrency mining
company, and a signatory to the Crypto Climate Accord. For more
information, visit www.argoblockchain.com.