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Argo Blockchain PLC Announces May Operational Update, TVR and New Actions
LONDON, ENGLAND / ACCESSWIRE / June 5, 2024 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for May 2024.
During the month of May, the Company mined 45 Bitcoin or Bitcoin equivalents (together, “BTC”), or 1.5 BTC per day. The 55% decrease in BTC mined compared to April 2024 (3.3 BTC per day) is mainly due to the reduction in the hashprice resulting from the Bitcoin halving.
Mining revenues in May 2024 were $2.9 million, down 56% from the previous month (April 2024: $6.6 million). For the month of May, thanks to lower electricity prices and optimization of the Company’s fleet efficiency settings, the Company reported mining margins of approximately 30%. As of May 31, 2024, the Company held 11 BTC equivalents.
Assignment of New Shares
In addition, the Company announces that it has issued 626,883 new ordinary shares of £0.001 each in the capital of the Company (“Ordinary Shares”) pursuant to the terms of the restricted stock units previously granted under the 2022 Equity Incentive Plan approved by the shareholders at ‘Assembly Annual General Meeting of the company 2022.
The new Ordinary Shares are pari passu with the existing Ordinary Shares in circulation and an application has been made for the shares to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange PLC.
Share capital and overall voting rights
The Company also announces, in compliance with its obligations under rules 5.6.1R and 5.6.2G of the Disclosure Guidance and Transparency Rules, that as at 31 May 2024, the share capital of the Company will consist of 578,397,673 ordinary shares of £0.001 each ( Ordinary Shares). All Ordinary Shares have equal voting rights and there are no shares held in the Treasury.
The above figure may be used by shareholders as a denominator for calculations by which they can determine whether they are required to notify their interest or a change to their interest in the Company under the FCA’s Transparency and Disclosure Guidance Rules.
This announcement contains confidential information.
For further information contact:
About Argo:
Argo Blockchain plc is a dual-listed blockchain technology company (LSE: ARB; NASDAQ: ARBK) focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas and offices in the United States, Canada and the United Kingdom, Argo’s global and sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate-positive cryptocurrency mining company and signatory to the Crypto Climate Accord. For more information visit www.argoblockchain.com.
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SOURCE: Argo Blockchain PLC
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