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20 Mar 2025 07:00
Press Release
20 March 2025
Argo Blockchain plc
("Argo" or "the Company")
Hosting Update
Argo Blockchain plc (LSE: ARB; NASDAQ: ARBK) is pleased to announce the following hosting and miner updates:
· The Company has amended its hosting arrangement with Merkle Standard LLC ("Merkle") to host a total of 9,315 S19J Pro miners at Merkle's Memphis, Tennessee location, up from the initial 8,113 reported in February 2025.
· A further 4,000 S19J Pro miners will be hosted at Merkle's Washington State location.
· The Company has reached an agreement to sell 2,000 S19J Pro miners for cash proceeds of approximately $550,000.
· As previously disclosed, an additional 2,500 S19J Pro miners will be installed at Argo's Baie Comeau, Quebec facility where the Company currently has available capacity.
By the end of April 2025, after these deployments, the Company expects 69% of the approximately 23,000 miners previously hosted at Helios to be operational. After the sale of 2,000 units, the Company will have approximately 5,000 SJ19 Pro's remaining. The Company will look to either sell or rehost these based on market conditions.
This announcement contains inside information.
For further information please contact:
Argo Blockchain | |
Investor Relations | ir@argoblockchain.com |
Tennyson Securities | |
Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities | |
Joint Broker Guy Wheatley, CFA | +44 7493 989014 guy.wheatley@fortifiedsecurities.com |
Tancredi Intelligent Communication UK & Europe Media Relations | argoblock@tancredigroup.com |
About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) 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.
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 future plans and objectives of the Company, including the expectation to have 69% of the approximately 23,000 miners previously hosted at Helios to be operational, and the anticipated closing of the sale of 2,000 S19J Pro miners, 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 and other conditions, the principal risks and uncertainties listed in the risk factors set forth in our Annual Report and Financial Statements and Form 20-F for the year ended 31 December 2023, and our Interim Report as of 30 September 2024.
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