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 (ARBK) operates at the intersection of cryptocurrency mining and sustainable technology, leveraging renewable energy to power its North American data centers. This news hub provides investors and industry observers with comprehensive updates on the company's strategic initiatives, operational milestones, and market developments.
Access authoritative reporting on ARBK's cryptocurrency mining operations, high-performance computing expansion, and energy-efficient infrastructure projects. Our curated collection includes official press releases, financial disclosures, and analysis of key business moves – from equipment upgrades to partnership announcements.
Key coverage areas include quarterly earnings reports, mining capacity updates, sustainability initiatives, and technological innovations. Bookmark this page for real-time updates on ARBK's progress in optimizing blockchain infrastructure while maintaining its competitive edge in renewable-powered operations.
For stakeholders tracking the evolution of energy-conscious crypto mining, this resource offers essential updates on ARBK's operational efficiency metrics and strategic positioning within the blockchain ecosystem. Return regularly for unfiltered access to primary source materials and expert commentary on company developments.
Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) has fully repaid its $35 million loan from Galaxy Digital Holdings, (GLXY) ahead of schedule. The loan, originally extended on December 28, 2022, was repaid over four months early and nearly 18 months ahead of the original repayment schedule. Repayments began in May 2023, with the loan balance at June 30, 2024, standing at approximately $5.7 million.
The company repaid $11.5 million in 2023 and the remaining $23.5 million in 2024. Interest expense on the Galaxy debt was $4.6 million in 2023 and $1.4 million through August 9, 2024. CEO Thomas Chippas stated that this early repayment demonstrates Argo's financial discipline and commitment to optimizing its capital structure for long-term shareholder value.
Argo Blockchain plc, a global cryptocurrency mining leader (LSE:ARB)(NASDAQ:ARBK), has released its operational update for July 2024. The company mined 48 Bitcoin or Bitcoin Equivalents (BTC), maintaining a consistent rate of 1.5 BTC per day from June 2024. Mining revenue for July reached $3.0 million, slightly up from June's $2.9 million. However, the mining margin decreased to the mid 20% range due to a lower hash price in July compared to June. As of July 31, 2024, Argo Blockchain held 11 BTC equivalent. This update contains inside information and reflects the company's ongoing performance in the cryptocurrency mining sector.
Argo Blockchain PLC (ARBK) has announced a significant change in its major holdings. Armistice Capital , based in New York, USA, has acquired a 9.067306% stake in the company, representing 57,700,000 voting rights. This threshold was crossed on July 31, 2024, and the issuer was notified on August 1, 2024. Additionally, Armistice Capital holds 57,800,000 warrant shares with the right to subscribe to an equal number of unissued shares, subject to a 4.99% blocker. The notification was made in compliance with the TR-1 standard form for major holdings disclosure, as required by the UK Financial Conduct Authority.
Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) has announced a private placement of ordinary shares and warrants with an institutional investor, raising gross proceeds of approximately £6.5 million. The company will issue 57,800,000 ordinary shares at £0.1125 per share, along with warrants to purchase an additional 57,800,000 shares at the same price, exercisable over five years. The issuance price represents a premium to recent volume-weighted average prices and a 10% discount to the closing price on July 29, 2024.
The net proceeds will be used for working capital, general corporate purposes, and debt repayment. H.C. Wainwright & Co. is acting as the exclusive placement agent. The placement shares are expected to be admitted to trading on the London Stock Exchange on or about July 31, 2024, bringing the total number of ordinary shares in issue to 636,352,148.
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.
Argo Blockchain, a global leader in cryptocurrency mining predominantly using renewable energy, has announced an extension of its loan agreement with Galaxy Digital Holdings through December 28, 2024. As of June 30, 2024, the loan balance stands at $5.7 million, significantly reduced from the original $35 million advanced in December 2022. The repayment is expected to lower Argo's monthly interest expenses from $440,000 in July 2023 to $78,000 by July 2024.
Argo Blockchain, a leading cryptocurrency mining company, announced the results of its annual general meeting held on June 6, 2024. Several resolutions were voted on, with resolutions 1, 4, 5, 6, and 7 passed as ordinary resolutions and resolutions 9, 10, and 12 passed as special resolutions. However, resolutions 2, 3, 8, and 11 did not achieve the necessary majority. Key resolutions included the re-appointment of Thomas Chippas as a director and PKF Littlejohn as auditors. Notably, the Directors' Remuneration Report and Policy faced significant opposition, with only 29.62% and 24.59% approval respectively. The company will reflect on the adverse votes and update the market accordingly.
Argo Blockchain PLC (LSE:ARB, NASDAQ:ARBK), a global leader in cryptocurrency mining, has released its operational update for May 2024. During this month, the company mined 45 Bitcoin or Bitcoin equivalents, averaging 1.5 BTC per day, which represents a 55% decrease compared to April 2024 due to the Bitcoin halving event.
May 2024 mining revenue was $2.9 million, down 56% from $6.6 million in April 2024. Despite the revenue drop, the company achieved mining margins of approximately 30% through lower power prices and fleet optimization. As of May 31, 2024, Argo held 11 BTC equivalents.
The company also issued 626,883 new ordinary shares as part of the 2022 Equity Incentive Plan, making the total share capital 578,397,673 ordinary shares with equal voting rights.
Argo Blockchain plc (LSE:ARB, NASDAQ:ARBK), a global leader in cryptocurrency mining, has released its unaudited financial results for Q1 2024, ending March 31, 2024. The company reported a revenue increase of 4% to $16.8 million compared to Q4 2023. Argo mined 319 Bitcoin, averaging 3.5 BTC per day, with a mining margin of 38%, up from 34% in the previous quarter. The company reduced its debt by $12.4 million, ending the quarter with $12.4 million in cash and 11 BTC. A gain of $3.0 million was recorded from the sale of the Mirabel facility. Despite these positives, Argo reported a net loss of $3.2 million for the quarter. Adjusted EBITDA stood at $3.8 million.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) will release its Q1 2024 financial results on May 23, 2024. A conference call for shareholders and potential investors is scheduled for the same day at 10:00 ET / 15:00 BST. The call will be accessible via the Investor Meet Company platform, where questions can be submitted in advance or during the live session. Additionally, the company announced that as of April 30, 2024, its share capital consists of 577,770,790 ordinary shares, each with equal voting rights and no shares held in treasury. This information complies with the FCA Disclosure Guidance and Transparency Rules.
