RCS - Argo Blockchain PLC - Closing of UK Restructuring Plan

Argo BlockchainAnnouncement

16/12/2025 08:15

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RNS Number : 6630L  Argo Blockchain PLC  16 December 2025

Press Release
 
16 December 2025
 
                                                                                Argo Blockchain plc
("Argo" or "the Company")

 

 Closing of UK Restructuring Plan and Strategic Pivot Toward AI/HPC

Argo Blockchain plc (NASDAQ: ARBK) announces the closing of its restructuring
plan under Part 26A of the Companies Act 2006 (the "Restructuring Plan"), as
sanctioned by the High Court of Justice, Business and Property Courts of
England and Wales by the sealed order issued on 11 December 2025, marking a
significant milestone in its transformation and positioning the Company for
long-term growth.

Key Highlights of Closing of the Restructuring Plan:

●    Enhanced Hashrate Capacity: The Company's nameplate hashrate has
increased from approximately 1.8 EH/s to 2.4 EH/s, strengthening its
competitive position in the Bitcoin mining sector.

●   Expanded Self-Mining Operations: Expanded self‑mining capacity to
28.5 MW through 13.5 MW of newly acquired infrastructure in Alabama;
additionally secured electrical assets (2500 KVA transformers and switchgear)
that can support up to 65 MW of incremental deployment at future sites.

●    Diversified Mining Portfolio: With the recent price momentum in
Zcash, the Company has successfully deployed 1,400 Z11 miners, now actively
contributing to revenue through Zcash mining.

●   Strengthened Balance Sheet: The Company's $40 million in outstanding
8.75% senior notes due 2026 (CUSIP: 040126 203) have been equitized pursuant
to the Restructuring Plan, leaving the Company debt-free except for the $472k
remaining mortgage on the Company's owned and operated Baie-Comeau facility.

●  Strategic Pivot to AI/HPC: The Company is exploring opportunities in
artificial intelligence (AI) and high-performance computing (HPC) to diversify
its revenue streams and leverage its infrastructure expertise.

Leadership Commentary

Justin Nolan, chief executive officer of Argo said, "completing this
restructuring marks a new era for Argo. Argo has significantly strengthened
its balance sheet, expanded its mining footprint, and positioned itself to
capture opportunities not only in digital assets but also in the rapidly
growing AI and HPC sectors. Argo's team is energized to deliver sustainable
growth and shareholder value."

General

The Plan Effective Date took place on Thursday 11 December 2025 and the Plan
Implementation Date took place on Monday 15 December 2025, notices of which
will be available on the Plan Website at https://deals.is.kroll.com/argo.In
accordance with the terms of the Restructuring Plan, the Company has made some
non-material variations to the Restructuring Plan. A document detailing these
variations is available on the Plan Website at
https://deals.is.kroll.com/argo.

About Argo
Argo Blockchain plc (NASDAQ: ARBK) is a blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec 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 (http://www.argoblockchain.com/)
.

 

Forward looking statements

 

This announcement contains "forward-looking statements," which can be
identified by words like "may," "will," "likely," "should," "expect,"
"anticipate," "future," "plan," "believe," "intend," "goal," "seek,"
"estimate," "project," "continue" and similar expressions. Forward-looking
statements are neither historical facts nor assurances of future performance.
Instead, they are based only on the Company's current beliefs, expectations
and assumptions regarding the future of its business, future plans and
strategies, projections, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements relate to the future,
they are subject to inherent uncertainties, risks and changes in circumstances
that are difficult to predict and many of which are outside of the Company's
control. The information in this announcement about the expected effects of
the Restructuring Plan are forward-looking statements. Therefore, you should
not rely on any of these forward-looking statements. Important factors that
could cause the Company's actual results and financial condition to differ
materially from those indicated in the forward-looking statements include
market conditions; the ability to retain the Company's listing on Nasdaq;
operational, financial, regulatory, tax and legal risks; assumptions
underlying revenue, EBITDA and valuation estimates; and the principal risks
and uncertainties described in the risk factors set forth in the Company's
Annual Report and Financial Statements and Form 20-F for the year ended 31
December 2024.

 

 

 

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