Argo Blockchain PLC Announces June Operational Update

Rhea-AI Summary

Argo Blockchain issued its operational update for June 2024, announcing that it mined 44 Bitcoin or Bitcoin Equivalents, equating to 1.5 BTC per day. This production rate remains consistent with May 2024. Mining revenue for June 2024 also matched May's, totaling $2.9 million. The company's mining margins stood at approximately 30% for the month, and it held 11 BTC equivalents as of June 30, 2024.

Positive

• None.

Negative

• Stable but unimproved Bitcoin production at 44 BTC.
• Mining revenue stagnant at $2.9 million.
• Mining margins remained at 30%, indicating no improvement.

June Operational Update

LONDON, UNITED KINGDOM / ACCESSWIRE / July 5, 2024 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for June 2024.

During the month of June, the Company mined 44 Bitcoin or Bitcoin Equivalents (together, "BTC"), or 1.5 BTC per day. This is consistent with May's production.

Mining revenue in June 2024 amounted to $2.9 million (May 2024: $2.9 million). For the month of June, the Company has seen mining margins of approximately 30%. As at 30 June 2024, the Company held 11 BTC equivalent.

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 mining facilities in Quebec, mining operations in Texas, 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Argo Blockchain PLC

View the original press release on accesswire.com

FAQ

How much Bitcoin did Argo Blockchain mine in June 2024?

Argo Blockchain mined 44 Bitcoin or Bitcoin Equivalents in June 2024, averaging 1.5 BTC per day.

What was Argo Blockchain's mining revenue for June 2024?

Argo Blockchain reported mining revenue of $2.9 million for June 2024.

What were Argo Blockchain's mining margins in June 2024?

Argo Blockchain's mining margins were approximately 30% in June 2024.

How many Bitcoins did Argo Blockchain hold as of June 30, 2024?

As of June 30, 2024, Argo Blockchain held 11 Bitcoin equivalents.