REG - Argo Blockchain PLC - Argo August Operational Update

Argo BlockchainAnnouncement

05/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240905:nRSE9700Ca&default-theme=true

RNS Number : 9700C  Argo Blockchain PLC  05 September 2024

Press Release

5 September 2024

Argo Blockchain plc

("Argo" or "the Company")

 

August Operational Update

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB;
NASDAQ: ARBK), is pleased to provide the following operational update for
August 2024.

During the month of August, the Company mined 38 Bitcoin ("BTC"), or 1.2 BTC
per day down from 1.5 per day in July 2024. BTC production was down due to
more frequent economic curtailments during the month and lower hash price.

Mining revenue in August 2024 amounted to $2.3 million down from $3.0 million
in July 2024. Mining margin for August 2024 was below 10%, lower than July as
a result of the lower hash price realized in August compared to July, and
higher power prices. As at 31 August 2024, the Company held 10 BTC equivalent.

Allotment of New Shares

 

Additionally, the Company announces that it has issued 1,468,730 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 August 2024, the Company's share capital will consist of 637,820,878
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
 Investor Relations                  ir@argoblockchain.com (mailto:ir@argoblockchain.com)
 Tennyson Securities
 Corporate Broker                    +44 207 186 9030

 Peter Krens
 Fortified Securities
 Joint Broker                        +44 7493 989014

 Guy Wheatley, CFA                   guy.wheatley@fortifiedsecurities.com
 Tancredi Intelligent Communication   argoblock@tancredigroup.com

 UK & Europe Media Relations

 

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 (http://www.argoblockchain.com/)
www.argoblockchain.com (http://www.argoblockchain.com/) .

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDLIMMTMTBMTTI