Argo Blockchain PLC 7,000 mining machines now in production (8712S)
11 November 2019 - 6:00PM
UK Regulatory
TIDMARB
RNS Number : 8712S
Argo Blockchain PLC
11 November 2019
PRESS RELEASE
11 November 2019
Argo Blockchain PLC
('Argo' or 'the Company')
7,000 mining machines now in production
Investment in new hardware continues to deliver rapid
returns
Argo, a leading enterprise-scale cryptominer based in the UK
(LSE: ARB), is pleased to announce that 500 new Bitmain S17
Antminer machines were brought onstream last week, increasing the
total number of machines in production to 7,000.
The new machines are part of Argo's strategy to install and
operate a total production base of approximately 17,000 machines by
the end of the first quarter of 2020, a more than 140% increase
from current levels. The remainder of the 10,000 machines required
to achieve that target are already on order and expected to be
delivered in batches from early next month.
Argo is also pleased to report that, further to its announcement
of 28 August 2019, 1,026 S17 Antminers that commenced production in
late May 2019 have achieved a 100% payback on their investment.
Mike Edwards, Executive Chairman of Argo, commented: "Our
strategy to make a major investment in new mining hardware this
year continues to deliver strong returns. We are also confident
that the ongoing expansion of our mining infrastructure will
deliver returns in line with our expectations and create long-term
value for shareholders."
Argo Blockchain
Mike Edwards via Tancredi +44 203 434 2334
President & Executive Director
Neil Thapar +44 7876 455323
Financial Communications Adviser
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Mirabaud
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Corporate Broker
Peter Krens +44 203 167 7221
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Tancredi Intelligent Communication
Media Relations
------------------------------
Salamander Davoudi
salamander@tancredigroup.com +44 7957 549 906
Emma Valgimigli
emma@tancredigroup.com +44 7727 180 873
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About Argo:
Argo Blockchain plc is a global data centre business that
provides a purpose-built and flexible platform for mining of
leading cryptocurrencies for the enterprise-scale and institutional
sectors worldwide from operational centres in Canada. 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.
www.argomining.co
See Argo's largest facility in Quebec:
https://youtu.be/LDWWaZ75Zbk
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END
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