Welcome to our dedicated page for Argo Blockchain Plc news (Ticker: ARBK), a resource for investors and traders seeking the latest updates and insights on Argo Blockchain Plc stock.
Argo Blockchain plc is a leading blockchain technology company specializing in large-scale cryptocurrency mining. Dual-listed on the London Stock Exchange (LSE: ARB) and NASDAQ (ARBK), Argo operates state-of-the-art data centers in Quebec and Texas, which are powered predominantly by renewable energy. With a mission to make cryptocurrency mining accessible and efficient for everyone, Argo offers a user-friendly platform that enables customers to mine Bitcoin, Ethereum, and other altcoins directly from their computers or mobile devices. Argo's platform provides seamless access to its high-performance mining rigs, ensuring that users can engage in crypto-mining with just a click and a transparent monthly fee.
In recent developments, Argo has made significant strides in optimizing its operations and strengthening its financial position. The company recently sold its Mirabel, Quebec data center for $6.1 million, which enabled it to reduce its debt significantly. The mining machines from the Mirabel facility were successfully relocated to Argo's Baie Comeau facility, further streamlining operations and reducing non-mining operating expenses by approximately $0.7 million per year.
Argo's commitment to sustainability is evident as it became the first climate-positive cryptocurrency mining company in 2021 and a signatory to the Crypto Climate Accord. The company's operations prioritize environmental sustainability, leveraging hydroelectric power in Quebec and renewable sources in Texas.
Financially, Argo has shown resilience and growth even amidst market volatility. The company reported a 5% increase in daily Bitcoin production in March 2024 and achieved a monthly mining revenue of $7.0 million. The company’s net loss for Q1 2024 was $3.2 million, but it demonstrated strong revenue performance with $16.8 million, and a 4% increase compared to Q4 2023. Additionally, Argo has consistently reduced its debt, lowering the balance to $12.8 million as of March 2024, achieving a 63% reduction from the original debt amount.
With a focus on financial discipline, operational excellence, and strategic partnerships, Argo continues to explore opportunities to pair mining with stranded or wasted energy, aiming to optimize renewable energy usage. As the company navigates the evolving cryptocurrency landscape, it remains dedicated to delivering value to its shareholders and maintaining its leadership position in the industry.
Argo Blockchain announced the results of its annual general meeting held on June 29, 2022. All resolutions were approved, including ordinary resolutions 1 to 10 and special resolutions 11 to 14. Notable votes included the approval of the Directors’ Remuneration Report by 74.23% and the 2022 Equity Incentive Plan by 71.47%. The board acknowledged the significant opposition to these resolutions and expressed its commitment to engaging with shareholders to address their concerns.
Argo Blockchain plc (LSE: ARB; NASDAQ: ARBK) announces a Post AGM Q&A session scheduled for June 29, 2022, at 4:00pm BST / 11:00am ET. CEO Peter Wall and CFO Alex Appleton will engage with existing and potential shareholders through the Investor Meet Platform. Stakeholders can submit questions beforehand or during the live presentation. This event enhances transparency and shareholder engagement, reinforcing Argo's commitment to its investor community.
Argo Blockchain (LSE: ARB; NASDAQ: ARBK) has released a help sheet for retail investors ahead of its Annual General Meeting (AGM) on June 19, 2022. The sheet addresses voting difficulties encountered by retail shareholders during the previous AGM. Argo emphasizes the importance of shareholder participation and encourages early voting. The notice of the AGM is available on their investor website. Shareholders are invited to direct any inquiries about the voting process to the firm Georgeson.
Argo Blockchain plc has announced the allotment of 8,147,831 new Ordinary Shares as part of its acquisition of DPN LLC. This issuance follows the fulfillment of certain milestones outlined in the merger agreement from March 2021, where Argo acquired DPN LLC along with its land for the Helios Bitcoin mining facility in Texas. The shares will be allotted at a price of £0.4950 each and are expected to be admitted to trading on June 13, 2022. Post-admission, the total Ordinary Shares in circulation will rise to 477,825,166.
Argo Blockchain plc has provided an operational update for May 2022, noting a decrease in Bitcoin mined to 124 BTC from 166 BTC in April. This drop is attributed to increased mining difficulty, a lower hashrate, high energy prices due to Texas heat, and unplanned downtime. Mining revenue also fell to £3.07 million ($3.89 million) from £5.52 million ($6.83 million). Despite these challenges, the company increased its hashrate capacity to 1.9 EH/s with ongoing installations at its Helios facility and a partnership with ePIC Blockchain Technologies for custom mining machines.
Argo Blockchain has announced its Annual General Meeting (AGM) scheduled for 10:00 AM on June 29, 2022 in London. Shareholders can attend in person and participate via the Investor Meet Company platform, although they will not have voting rights on the platform. Shareholders are encouraged to submit their questions ahead of the meeting. The Notice of AGM and Proxy Form will be distributed today and available on the company's website shortly. Argo Blockchain is recognized as a leader in cryptocurrency mining, focusing on sustainable energy sources.
Argo Blockchain (LSE:ARB, NASDAQ:ARBK) announced as of May 31, 2022 that its share capital consists of 469,677,335 ordinary shares at £0.001 each. All shares carry equal voting rights and none are held in Treasury. This information is crucial for shareholders to assess their notification obligations under the FCA's Disclosure Guidance and Transparency Rules. The company emphasizes its position as a leader in cryptocurrency mining, powered by clean energy, headquartered in London.
Argo Blockchain, a leader in cryptocurrency mining, disclosed several transactions involving its directors from May 19 to 23, 2022. Key highlights include:
- Directors purchased shares and American Depositary Receipts (ADRs), with Maria Perrella buying 6,000 ADRs at US$6.54, and Sarah Gow acquiring 20,000 shares at £0.4920.
- Peter Wall exercised options for 430,000 shares at £0.070 each, while an employee exercised options for 1,165,000 shares.
- Options were granted for 4,850,000 shares to staff, with a vesting schedule extending to May 2025.
Argo Blockchain PLC (LSE:ARB; NASDAQ:ARBK) reported a strong Q1 2022 with $19.5 million in revenue, marking a 9% year-over-year increase. The company achieved a net income of $2.1 million and an adjusted EBITDA of $19.1 million, a 24% rise compared to Q1 2021. Argo mined 470 Bitcoin, up 21% from the previous year, while maintaining a mining margin of 76%. As of March 31, 2022, its Bitcoin holdings stood at 2,700 BTC, alongside a cash balance of $11.9 million. Major operational milestones include the energization of the Helios facility and new financing agreements totaling $97.3 million for expansion.
Argo Blockchain plc, a leader in cryptocurrency mining, is set to release its Q1 2022 financial results after Nasdaq trading closes on May 17, 2022. A conference call is scheduled for May 18, 2022, at 08:00 ET / 12:00 GMT, open to shareholders. The call will be accessible via the Investor Meet Company platform, with questions welcomed before and during the event. Investors can register through a specific link. The company emphasizes its commitment to transparency and shareholder accessibility in this upcoming earnings report.
FAQ
What is the current stock price of Argo Blockchain Plc (ARBK)?
What is the market cap of Argo Blockchain Plc (ARBK)?
What does Argo Blockchain plc do?
Where are Argo Blockchain’s data centers located?
Is Argo Blockchain focused on sustainability?
What recent financial achievements has Argo Blockchain made?
How does Argo Blockchain’s mining platform work?
What was the impact of the sale of the Mirabel facility?
What are Argo Blockchain's strategic priorities?
What is the significance of Argo Blockchain’s dual listing?
What is Argo Blockchain’s approach to growth?
How did Argo Blockchain perform in the Bitcoin halving event?
