Press Release
5 June 2024
Argo Blockchain
plc
("Argo"
or "the Company")
May Operational
Update
Argo Blockchain plc, a global leader
in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to
provide the following operational update for May 2024.
During the month of May, the Company
mined 45 Bitcoin or Bitcoin Equivalents (together, "BTC"), or 1.5
BTC per day. The 55% decrease in BTC mined compared to April 2024
(3.3 BTC per day) is primarily due to the reduced hashprice
resulting from the Bitcoin halving.
Mining revenue in May 2024 amounted
to $2.9 million, a decrease of 56% compared to the prior month
(April 2024: $6.6 million). For the month of May, through lower
power prices and optimization of the Company's fleet's
efficiency settings, the Company has seen mining margins of
approximately 30%. As at 31 May 2024, the Company held 11 BTC
equivalent.
Allotment of New Shares
Additionally, the Company announces
that it has issued 626,883
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
May 2024, the Company's share capital will consist
of 578,397,673 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:
|
Argo Blockchain
|
|
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Investor Relations
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ir@argoblockchain.com
|
|
Tennyson Securities
|
|
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Corporate Broker
Peter Krens
|
+44
207 186 9030
|
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Fortified Securities
|
|
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Joint Broker
Guy
Wheatley, CFA
|
+44
7493 989014
guy.wheatley@fortifiedsecurities.com
|
|
Tancredi Intelligent Communication
UK & Europe Media
Relations
|
argoblock@tancredigroup.com
|
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.
