Argo Blockchain PLC April Operational Update
Argo Blockchain plc provided an operational update for April 2024, mining 99 Bitcoin, maintaining daily production despite the halving, with mining revenue at $6.6 million. The Company also granted Equity Awards to employees as per the 2022 Equity Incentive Plan.
Consistent daily Bitcoin production despite the halving event.
Granting of Equity Awards to employees to incentivize retention and performance.
6% decrease in mining revenue compared to the prior month.
Temporary spike in transaction fees affecting mining revenue.
Grant of Equity Awards
LONDON, UNITED KINGDOM / ACCESSWIRE / May 3, 2024 / Argo Blockchain plc (LSE:ARB)(Nasdaq:ARBK), a global leader in cryptocurrency mining, is pleased to provide the following operational update for April 2024.
During the month of April, the Company mined 99 Bitcoin, or 3.3 Bitcoin per day (March 2024 - 103 Bitcoin). Daily Bitcoin production in April remained the same as the prior month despite the Bitcoin halving occurring on 19 April 2024. This is primarily due to a temporary but significant spike in transaction fees in the days immediately following the halving.
Mining revenue in April 2024 amounted to
As of 30 April 2024, the Company held digital assets worth the equivalent of 12 Bitcoin.
Grant of Equity Awards
On 9 March 2024, the Company granted 7,372,184 Restricted Stock Units ("RSUs") to certain employees in accordance with the 2022 Equity Incentive Plan approved by shareholders at the Company's 2022 Annual General Meeting. The RSUs vest over a three-year period, with first vesting occurring six months from the date of grant (at which point 6/36ths vest) and, thereafter, the RSUs vest at a rate of 3/36th per quarter for the remainder of the vesting period subject to the continued employment of the grantee.
On 9 March 2024, the Company also granted 172,867 Performance Stock Units ("PSUs") to certain employees in accordance with the 2022 Equity Incentive Plan approved by shareholders at the Company's 2022 Annual General Meeting. The PSUs vest over a three-year period, with first vesting occurring six months from the date of grant (at which point 6/36ths vest) and, thereafter, the PSUs vest at a rate of 3/36th per quarter for the remainder of the vesting period subject to the continued employment of the grantee and satisfaction of the corresponding performance conditions.
This announcement contains inside information.
For further information please contact:
Argo Blockchain | |
Investor Relations | |
Tennyson Securities | |
Corporate Broker Peter Krens | +44 207 186 9030 |
Fortified Securities | |
Joint Broker Guy Wheatley, CFA | +44 74930989014 |
Tancredi Intelligent Communication UK & Europe Media Relations |
About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining operations in Quebec and 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.
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SOURCE: Argo Blockchain PLC
View the original press release on accesswire.com
FAQ
<p>How many Bitcoins did Argo Blockchain mine in April 2024?</p>
Argo Blockchain mined 99 Bitcoins in April 2024.
<p>What was Argo Blockchain's daily Bitcoin production in April 2024?</p>
Argo Blockchain produced 3.3 Bitcoins per day in April 2024.
<p>What was Argo Blockchain's mining revenue in April 2024?</p>
Argo Blockchain's mining revenue in April 2024 was $6.6 million.
<p>When did Argo Blockchain grant Equity Awards to employees?</p>
Argo Blockchain granted Equity Awards to employees on 9 March 2024.
