Last checked at 6 Jul 2021 07:00
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 £4.36 million (May 2021: £5.51 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 |
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Peter Wall Chief Executive Ian MacLeod Executive Chairman | via Tancredi +44 203 434 2334
|
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 |
OTC Markets |
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Jonathan Dickson jonathan@otcmarkets.com
| +44 204 526 4581
+44 7731 815 896 |
Tancredi Intelligent Communication UK & Europe Media Relations |
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Emma Valgimigli Emma Hodges Salamander Davoudi argoblock@tancredigroup.com
| +44 7727 180 873 +44 7861 995 628 +44 7957 549 906 |
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