TIDMARB

RNS Number : 6137K

Argo Blockchain PLC

03 September 2021

Press Release

03 September 2021

Argo Blockchain PLC

("Argo" or "the Company")

August Operational Update

Change of Registered Office Address

Operational Update

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

During the month of August, Argo mined 206 Bitcoin or Bitcoin Equivalent (together, BTC) compared to 225 BTC in July. This brings the total amount of BTC mined year-to-date to 1,314 BTC.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in August amounted to GBP6.83 million (July 2021: GBP5.60 million). Argo generated this income at an average monthly mining margin of approximately 86% for the month of August (July 2021: 83%). As part of the Company's asset management strategy and due to positive market conditions, Argo sold 61 BTC at an average price of GBP35,324.94 ($48,800) per BTC, generating cash of GBP2.14 million.

At the end of August, the Company owned 1659 Bitcoin or BTC equivalent.

Peter Wall, Chief Executive of Argo and interim Chairman said: "I am pleased that we have been able to deliver these results at an improved margin this month and continue to deliver value to our shareholders. We are also delighted to have released our Climate Strategy and remain committed in our efforts to enact positive change within the crypto mining sector."

Change of Registered Office Address

The Company announces that with immediate effect, its registered office address has changed to: 9th Floor, 16 Great Queen Street, London, England, WC2B 5DG.

For further information please contact:

 
 Argo Blockchain 
 Peter Wall                            via Tancredi +44 203 434 2334 
  Chief Executive 
                                      ------------------------------ 
 finnCap Ltd 
                                      ------------------------------ 
 Corporate Finance 
  Jonny Franklin-Adams 
  Tim Harper 
 
  Joint Corporate Broker 
  Sunila de Silva                      +44 207 220 0500 
                                      ------------------------------ 
 Tennyson Securities 
                                      ------------------------------ 
 Joint Corporate Broker 
  Peter Krens                          +44 207 186 9030 
                                      ------------------------------ 
 OTC Markets 
                                      ------------------------------ 
                                       +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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September 03, 2021 02:00 ET (06:00 GMT)

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