The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Major - first published year with profit.
BTC only just starting on the bull run with cryptocurrency becoming mainstream.
Peter Wall and Argo just followed a major Ethereum head on twitter - with ePIC saying they will be providing us with custom rigs for "top 10 cryptocurrencies" with my money going on ETH - which is arguably going to become as popular as BTC with the blockchain becoming the backbone for transactions now.
Plenty to come, and the RNS come pretty much every week here !
2020 Highlights:
- Total Bitcoin mined: 2,465 in 2020
- Revenue increased by 120% to £19.0m
- Achieved EBITDA* of £7.9m
- Mining Margin 41%, despite Bitcoin halving in May 2020
-Admin expenses reduced by £1.1m to £2.4m as a result of cost reduction efforts
-As of 31 Mar 2021: Argo held 764 Bitcoin and equivalents valued at approx. £32.6m
- Delivered net profit of £1.7m
Post Balance Sheet Events
- All mining machines have achieved over 100% ROI, incl. those installed in Jan & Feb 2021
- Acquired 320 acres of land in west Texas for US$17.5m with access to some of the lowest-cost clean energy as part of next phase of smart growth
- Raised £49m in new equity for mining rigs, Texas development, blockchain/fintech ventures, equity investment in
@Pluto_Digital and working capital
- MoU signed with @dmgblockchain to create Terra Pool, the first "green" BTC mining pool powered by clean energy
- Shares admitted to trading on the @OTCMarkets in Jan 2021 and upgraded to trading on the OTCQX Best Market in Feb 2021
- On Feb 2, 2021 Argo signed a Sale and Purchase Agreement with GPUone for the purchase of two data centres in Quebec
- Q1 2021 was the most profitable quarter yet, with 387 BTC mined, revenues of £13.4 million and a mining margin of 81%
So excited by this company and where it's heading.
21April 2021
Argo Blockchain PLC
("Argo" or the "Company")
Argo engages Navier to develop its mining facility in Texas
Grant of Warrants to Navier
Argo, a global leader in cryptocurrency mining (LSE: ARB), is pleased to announce it has signed a contract with Navier Inc., a specialist in the design and construction of cryptocurrency mining facilities, to co-develop Argo's new mining facility, Helios, in West Texas.
Navier will provide a range of consulting services related to the design and construction of the new Argo facility, including the co-design of a best-in-class electrical infrastructure capable of supporting 200MW of mining. Navier will also work with Argo to install next-generation immersion technology designed to boost mining productivity, control heat, and increase the lifespan of installed mining rigs.
Under the terms of the agreement, Argo will pay a monthly retainer and has agreed to issue Navier with certain warrants ("Warrants").
Granting of Warrants
The Company has granted a Warrant to Navier to purchase up to 223,821 ordinary shares of £0.001 each in the capital of Company (Ordinary Shares) at a purchase price per share of £1.35. Under the terms of the Warrant, the first tranche of Warrants in respect of 18,644 Ordinary Shares will vest on issue, with the remainder vesting over the following 11 months, in each case, conditional upon Navier being engaged by the Company and not being under notice. The Warrants are exercisable until the earlier of (i) the next Bitcoin halving or (ii) 19 March 2024.
Peter Wall, Chief Executive of Argo Blockchain, said: "We are delighted to have Navier on the team to help us develop our new mining facility in West Texas. Argo intends to build state-of-the-art mining infrastructure which will not only provide greater control over our operations but also meaningfully expands our mining capacity. At this facility we believe we will have access to some of cheapest renewable energy worldwide."
Josh Metnick, Chief Executive of Navier, said: "We are thrilled to collaborate with Argo to help build such an innovative green mining facility in West Texas. Navier is committed to ensuring that Argo builds one of the most cost effective, power efficient, and structurally scalable industrial mining sites in the world."
0.05% share issuance to pay for the next chapter in Argo Blockchain - why sell BTC to fund it when it is an appreciating asset?