Argo Blockchain PLC Announces May Operational Update, TVR and New Shares

ACCESSWIRE06-05

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

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The 55% decrease in BTC mined compared to April 2024  is primarily due to the reduced hashprice resulting from the Bitcoin halving.Mining revenue in May 2024 amounted to $2.9 million, a decrease of 56% compared to the prior month . For the month of May, through lower power prices and optimization of the Company's fleet's efficiency settings, the Company has seen mining margins of approximately 30%. As at 31 May 2024, the Company held 11 BTC equivalent.Allotment of New SharesAdditionally, the Company announces that it has issued 626,883 new ordinary shares of 0.001 each in the capital of the Company  pursuant to the terms of previously granted Restricted Share Units under the 2022 Equity Incentive Plan approved by ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ARBKL":"Argo Blockchain PLC","BK4023":"应用软件","BK4595":"比特币概念","ARBK":"Argo Blockchain Plc"},"translate_title":"Argo Blockchain PLC宣布5月份运营更新、TVR和新股","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARBKL":1,"ARBK":0.9},"content_text":"LONDON, ENGLAND / ACCESSWIRE / June 5, 2024 / Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:ARB)(NASDAQ:ARBK), is pleased to provide the following operational update for May 2024.\nDuring the month of May, the Company mined 45 Bitcoin or Bitcoin Equivalents (together, \"BTC\"), or 1.5 BTC per day. The 55% decrease in BTC mined compared to April 2024 (3.3 BTC per day) is primarily due to the reduced hashprice resulting from the Bitcoin halving.\nMining revenue in May 2024 amounted to $2.9 million, a decrease of 56% compared to the prior month (April 2024: $6.6 million). For the month of May, through lower power prices and optimization of the Company's fleet's efficiency settings, the Company has seen mining margins of approximately 30%. As at 31 May 2024, the Company held 11 BTC equivalent.\nAllotment of New SharesAdditionally, the Company announces that it has issued 626,883 new ordinary shares of £0.001 each in the capital of the Company (\"Ordinary Shares\") pursuant to the terms of previously granted Restricted Share Units under the 2022 Equity Incentive Plan approved by shareholders at the Company's 2022 Annual General Meeting.\nThe new Ordinary Shares rank pari passu with the existing Ordinary Shares in issue, and application has been made for the shares to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange PLC.\nShare Capital and Total Voting Rights\nThe Company also announces, in compliance with its obligations under Rules 5.6.1R and 5.6.2G of the Disclosure Guidance and Transparency Rules, that as at 31 May 2024, the Company's share capital will consist of 578,397,673 ordinary shares of £0.001 each (Ordinary Shares). All of the Ordinary Shares have equal voting rights and there are no shares held in Treasury.\nThe above figure may be used by shareholders as the denominator for the calculations by which they can determine whether they are required to notify their interest in, or a change of their interest in, the Company under the FCA Disclosure Guidance and Transparency Rules.\nThis announcement contains inside information.\nFor further information please contact:\n\n\n\n\nArgo Blockchain\n \n\n\nInvestor Relations\nir@argoblockchain.com \n\n\nTennyson Securities\n \n\n\nCorporate BrokerPeter Krens\n+44 207 186 9030\n\n\nFortified Securities\n \n\n\nJoint BrokerGuy Wheatley, CFA\n+44 7493 989014guy.wheatley@fortifiedsecurities.com \n\n\nTancredi Intelligent CommunicationUK & Europe Media Relations\nargoblock@tancredigroup.com \n\n\n\n\nAbout Argo:\nArgo 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.\nThis 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.\nSOURCE: Argo Blockchain PLC\n\n\nView the original \npress release on accesswire.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2441212261"}