Argo Blockchain PLC June Operational Update and Strategic Update (2390E)
July 06 2021 - 2:00AM
UK Regulatory
TIDMARB
RNS Number : 2390E
Argo Blockchain PLC
06 July 2021
Press Release
06 July 2021
Argo Blockchain PLC
("Argo" or "the Company")
June Operational Update
Strategic Update
Operational Update
Argo Blockchain, a global leader in cryptocurrency mining (LSE:
ARB), is pleased to provide the following operational update for
June.
During the month of June, Argo mined 167 Bitcoin or Bitcoin
Equivalent (together, BTC) compared to 166 BTC in May. This brings
the total amount of BTC mined year-to-date to 883 BTC.
Based on daily foreign exchange rates and cryptocurrency prices
during the month, mining revenue in June amounted to GBP4.36
million (May 2021: GBP5.51 million). Argo generated this income at
an average monthly mining margin of approximately 78% for the month
of June (May 2021: 82%).
At the end of June, the Company owned 1268 Bitcoin or BTC
equivalent.
Strategic Update
The Company also announces that it is exploring a potential
secondary listing on NASDAQ. Argo has not made any decisions
regarding the timing or the terms of the potential secondary
listing. Any proposed listing is subject to market and other
conditions, and there can be no assurance as to whether or when the
proposed listing may be completed.
Peter Wall, Chief Executive of Argo said: "June has seen big
changes in the cryptocurrency sector, with the reduction in total
global hash rate and mining difficulty as mining machines have come
offline in China. We've seen the global hash rate drop from over
150m TH/s to just 90m TH/s in the space of a month and mining
difficulty adjusted to reflect this reduction. Argo has capitalised
on these changes, continuing to deliver strong revenue at an
impressive margin. We are also pleased to announce the exploration
of a potential secondary listing on NASDAQ."
This announcement contains inside information which is disclosed
in accordance with the UK Market Abuse Regulation.
This announcement shall not constitute an offer to sell or
solicitation of an offer to buy any securities.
This announcement is not an offer of securities for sale in the
United States, and the securities referred to herein may not be
offered or sold in the United States absent registration except
pursuant to an exemption from, or in a transaction not subject to,
the registration requirements of the U.S. Securities Act of 1933,
as amended. Any public offering of such securities to be made in
the United States will be made by means of a prospectus that may be
obtained from the issuer, which would contain detailed information
about the Company and management, as well as financial
statements.
For further information please contact:
Argo Blockchain
Peter Wall via Tancredi +44 203 434 2334
Chief Executive
Ian MacLeod
Executive Chairman
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finnCap Ltd
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Corporate Finance
Jonny Franklin-Adams
Tim Harper
Joint Corporate Broker
Sunila de Silva +44 207 220 0500
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Tennyson Securities
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Joint Corporate Broker
Peter Krens +44 207 186 9030
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OTC Markets
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+44 204 526 4581
Jonathan Dickson
jonathan@otcmarkets.com +44 7731 815 896
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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
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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.
argoblockchain.com
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