TIDMARB

RNS Number : 3232H

Argo Blockchain PLC

03 August 2021

Press Release

03 August 2021

Argo Blockchain PLC

("Argo" or "the Company")

July Operational Update

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB), is pleased to provide the following operational update for July.

During the month of July, Argo mined 225 Bitcoin or Bitcoin Equivalent (together, BTC) compared to 167 BTC in June. This brings the total amount of BTC mined year-to-date to 1108 BTC.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in July amounted to GBP5.60 million (June 2021: GBP4.36 million). Argo generated this income at an average monthly mining margin of approximately 83% for the month of July (June 2021: 78%).

At the end of July, the Company owned 1,496 Bitcoin or BTC equivalent.

Peter Wall, Chief Executive of Argo said: "I'm delighted that we have been able to capitalise on the reduction in global hash rate and mining difficulty this month to deliver these results at an impressive margin. We are also pleased to have broken ground at the Texas facility, and are excited about the opportunities that this development offers in allowing us to exercise greater control over our mining operations, to continue to utilise renewable power and to work with the local community in Texas to enact positive change."

This announcement contains inside information.

For further information please contact:

 
 Argo Blockchain 
 Peter Wall                            via Tancredi +44 203 434 2334 
  Chief Executive 
                                      ------------------------------ 
 finnCap Ltd 
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 Corporate Finance 
  Jonny Franklin-Adams 
  Tim Harper 
 
  Joint Corporate Broker 
 
  Sunila de Silva                      +44 207 220 0500 
                                      ------------------------------ 
 Tennyson Securities 
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 Joint Corporate Broker 
  Peter Krens                          +44 207 186 9030 
                                      ------------------------------ 
 OTC Markets 
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                                       +44 204 526 4581 
 Jonathan Dickson 
  jonathan@otcmarkets.com               +44 7731 815 896 
                                      ------------------------------ 
 Tancredi Intelligent Communication 
  UK & Europe Media Relations 
                                      ------------------------------ 
 Emma Valgimigli 
  Emma Hodges                          +44 7727 180 873 
  Salamander Davoudi                    +44 7861 995 628 
  argoblock@tancredigroup.com           +44 7957 549 906 
                                      ------------------------------ 
 

About Argo:

Argo Blockchain plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. 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 and on the OTCQX Best Market in the United States under the ticker: ARBKF.

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August 03, 2021 02:00 ET (06:00 GMT)

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