Press Release
5 September 2024
Argo Blockchain
plc
("Argo"
or "the Company")
August Operational
Update
Argo Blockchain plc, a global leader
in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to
provide the following operational update for August
2024.
During the month of August, the
Company mined 38 Bitcoin ("BTC"), or 1.2 BTC per day down from 1.5
per day in July 2024. BTC production was down due to more frequent
economic curtailments during the month and lower hash
price.
Mining revenue in August 2024
amounted to $2.3 million down from $3.0 million in July 2024.
Mining margin for August 2024 was below 10%, lower than July as a
result of the lower hash price realized in August compared to July,
and higher power prices. As at 31 August 2024, the Company held 10
BTC equivalent.
Allotment of New Shares
Additionally, the Company announces
that it has issued 1,468,730 new ordinary
shares of £0.001 each in the capital of the Company ("Ordinary
Shares") pursuant to the terms of previously granted Restricted
Share Units under the 2022 Equity Incentive Plan approved by
shareholders at the Company's 2022 Annual General
Meeting.
The new Ordinary Shares rank pari
passu with the existing Ordinary Shares in issue, and application
has been made for the shares to be admitted to the Official List
and to trading on the Main Market of the London Stock Exchange
PLC.
Share Capital and Total Voting Rights
The Company also announces, in
compliance with its obligations under Rules 5.6.1R and 5.6.2G of
the Disclosure Guidance and Transparency Rules, that as at 31
August 2024, the Company's share capital will consist of
637,820,878 ordinary shares of £0.001 each (Ordinary Shares).
All of the Ordinary Shares have equal voting rights and there are
no shares held in Treasury.
The above figure may be used by
shareholders as the denominator for the calculations by which they
can determine whether they are required to notify their interest
in, or a change of their interest in, the Company under the FCA
Disclosure Guidance and Transparency Rules.
This announcement contains inside
information.
For further information please
contact:
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Argo Blockchain
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Investor Relations
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ir@argoblockchain.com
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Tennyson Securities
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Corporate Broker
Peter Krens
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+44
207 186 9030
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Fortified Securities
|
|
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Joint Broker
Guy
Wheatley, CFA
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+44
7493 989014
guy.wheatley@fortifiedsecurities.com
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Tancredi Intelligent Communication
UK & Europe Media
Relations
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argoblock@tancredigroup.com
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About Argo:
Argo Blockchain plc is a dual-listed
(LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on
large-scale cryptocurrency mining. With mining facilities in
Quebec, mining operations in 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.