REG - Argo Blockchain PLC - October Operational Update

Argo BlockchainAnnouncement

03/11/2023 07:15

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RNS Number : 2571S  Argo Blockchain PLC  03 November 2023

Press Release

3 November 2023

Argo Blockchain plc

("Argo" or "the Company")

 

October Operational Update

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB;
NASDAQ: ARBK), is pleased to provide the following operational update for
October 2023.

During the month of October, the Company mined 143 Bitcoin or Bitcoin
Equivalents (together, "BTC"), or 4.6 BTC per day. The Company was able to
increase its daily BTC production in October by 2% compared to the prior
month, despite a 7% increase in the monthly average network difficulty in
October compared to September. This is primarily due to fewer hours of
economic curtailment at Helios in October, along with a strong focus on
operational excellence across the Company.

Mining revenue in October 2023 amounted to $4.26 million, an increase of 19%
compared to the prior month (September 2023: $3.59 million). As of 31 October
2023, the Company held 21 BTC.

This announcement contains inside information.

For further information please contact:

 Argo Blockchain
 Investor Relations                  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/) .

 

 

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