Argo Blockchain - ARBKF STOCK NEWS

Argo Blockchain has appointed Colleen Sullivan, Maria Perrella, and Sarah Gow as independent non-executive directors, along with Alex Appleton as an executive director, effective July 29, 2021. These new members bring extensive experience in cryptocurrency, blockchain, and finance, aimed at strengthening the company’s leadership in the industry. CEO Peter Wall expressed confidence that their insights will significantly contribute to Argo's growth in cryptocurrency mining. Additionally, the company announces Perry Hothi's appointment as Chief Technology Officer, recognizing his commitment to the team.

Argo Blockchain Plc (OTCQX: ARBKF) has officially commenced construction on a 200-megawatt cryptocurrency mining facility in Dickens County, Texas. This new site, focused on renewable energy, is expected to significantly enhance Argo's mining capacity upon completion in the first half of 2022. The project will also create up to 20 full-time jobs in the area. Argo aims to leverage Texas’s renewable power generation capabilities, positioning itself for greater control over its operations and reinforcing its status as a leader in sustainable blockchain infrastructure.

Argo Blockchain Plc (OTCQX: ARBKF) announced the confidential submission of a draft Registration Statement on Form F-1 to the SEC for a proposed dual-listing and initial public offering of American Depositary Shares (ADSs). The exact number of ADSs and price range remain undetermined. The offering is expected to begin in Q3 2021, pending SEC review and market conditions. This announcement complies with Rule 135 under the U.S. Securities Act and does not constitute an offer to sell securities.

Argo Blockchain (OTCQX: ARBKF) reported a strong operational update for May, mining 166 BTC, up from 163 BTC in April, bringing the year-to-date total to 716 BTC. Mining revenue was $7.8 million, despite a decrease from $9.3 million in April, with a mining margin of approximately 82%. The company has signed a major Grid Interconnection Agreement for its Texas facility and expanded mining capacity, with new hardware expected to boost total computing power to 1.68 exahash by mid-October. Argo also invested $208,000 in WonderFi Technologies, aiming to enhance its cryptocurrency infrastructure.

Argo Blockchain (OTCQX US: ARBKF) and DMG Blockchain Solutions have partnered with the Crypto Climate Accord (CCA) to enhance sustainability in the cryptocurrency sector. Their collaboration aims to decarbonize crypto mining by promoting renewable energy use, targeting net-zero emissions from electricity consumption for CCA members by 2030. This partnership marks a commitment to leveraging new technologies for transparent energy sourcing. CEO comments underscore the importance of this initiative in addressing the environmental impacts of Bitcoin mining.

Argo Blockchain (OTCQX: ARBKF) has successfully acquired two data centers in Quebec, Canada, as part of its strategic plan to enhance control over its cryptocurrency mining operations. This move aligns with Argo's commitment to sustainable energy, as the data centers are powered almost entirely by hydroelectric sources. The acquisition involved the assumption of existing bank obligations rather than cash payments. CEO Peter Wall stated that this milestone supports long-term growth and stability in mining production and costs.

Argo Blockchain (OTCQX: ARBKF) reported mining 163 Bitcoin in April, slightly down from 165 BTC in March. The company's mining revenue reached $9.3 million in April, marking an increase from $9.1 million in March, with an average mining margin of 85%, up from 84%. CEO Peter Wall highlighted the achievement of four consecutive months of record mining revenue, alongside the partnership with Navier to enhance infrastructure in Texas. This follows a year of triple-digit growth in 2020, positioning the company for a solid performance in 2021.

Argo Blockchain reported a significant increase in Bitcoin mining output, achieving 165 BTC in March, up from 129 BTC in February, culminating in 387 BTC for Q1 2021. Mining revenue reached $9.1 million in March, an increase from $6.04 million in February, leading to a total of $18.6 million for the quarter, marking it as Argo's most profitable quarter to date with an average margin of 80%. CEO Peter Wall highlighted the company's commitment to growth and efficiency, alongside a collaboration with DMG to create Terra Pool, a clean energy-powered Bitcoin mining pool.

Argo Blockchain has completed the acquisition of DPN LLC, gaining access to 320 acres in West Texas and up to 800 megawatts of electrical power. The purchase enables Argo to build a 200-megawatt mining facility over the next year, capitalizing on some of the lowest electricity rates globally, primarily from renewable sources. The initial consideration for the acquisition was US$5 million, with potential additional costs tied to contract milestones. Following this, the total number of Argo’s ordinary shares will increase to 368,361,690.