Argo Blockchain PLC Announces 1st Quarter Results

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Argo Blockchain PLC Announces 1st Quarter Results

ACCESSWIRE05-23

Q1 2024 Results (Unaudited) LONDON, UNITED KINGDOM / ACCESSWIRE / May 23, 2024 / Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK), a global leader in cryptocurrency mining, is pleased to announce its ...

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charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Argo Blockchain PLC Announces 1st Quarter Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nArgo Blockchain PLC Announces 1st Quarter Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-23 14:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/argo-blockchain-plc-announces-1st-060000684.html><strong>ACCESSWIRE</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Q1 2024 Results (Unaudited)\nLONDON, UNITED KINGDOM / ACCESSWIRE / May 23, 2024 / Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK), a global leader in cryptocurrency mining, is pleased to announce its ...</p>\n\n<a href=\"https://finance.yahoo.com/news/argo-blockchain-plc-announces-1st-060000684.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4023","symbol_name":"应用软件","start_time":0,"source_url":"https://finance.yahoo.com/news/argo-blockchain-plc-announces-1st-060000684.html","article_id":"2437872204","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/wkiGuyPO79cG.8jv6sy_MQ--~B/aD0xMTcxO3c9MjQ2MjthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/accesswire.ca/d06dac2ab261fb474fa1e86cfea80207"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2437872204","pubTimestamp":1716444000,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"LONDON, UNITED KINGDOM / ACCESSWIRE / May 23, 2024 / Argo Blockchain plc , a global leader in cryptocurrency mining, is pleased to announce its unaudited financial results for the quarter ended 31 March 2024. All $ amounts are in United States Dollars  unless otherwise stated.This announcement contains inside information and includes forward-looking statements which reflect the Company's current views, interpretations, beliefs or expectations with respect to the Company's financial performance, business strategy and plans and objectives of management for future operations. These statements include forward-looking statements both with respect to the Company and the sector and industry in which the Company operates. Statements which include the words \"remains confident\", \"expects\", \"intends\", \"plans\", \"believes\", \"projects\", \"anticipates\", \"will\", \"targets\", \"aims\", \"may\", \"would\", \"could\", \"continue\", \"estimate\", \"future\", \"opportunity\", \"potential\" or, in each case, their negatives, an","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4023":"应用软件","BK4595":"比特币概念","ARBK":"Argo Blockchain Plc","ARBKL":"Argo Blockchain PLC"},"translate_title":"Argo Blockchain PLC公布第一季度业绩","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARBKL":1,"ARBK":0.9},"content_text":"Q1 2024 Results (Unaudited)\nLONDON, UNITED KINGDOM / ACCESSWIRE / May 23, 2024 / Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK), a global leader in cryptocurrency mining, is pleased to announce its unaudited financial results for the quarter ended 31 March 2024. All $ amounts are in United States Dollars (\"USD\") unless otherwise stated.\nQ1 2024 Financial Results\n● The Company ended the quarter with cash of $12.4 million and held 11 Bitcoin (\"BTC\") or Bitcoin Equivalent\n● Reduced debt by $12.4 million during the quarter, a 19% reduction of the December 31, 2023 balance\n● Revenue of $16.8 million, an increase of 4% compared to Q4 2023\n● Total BTC mined in the quarter was 319, or 3.5 BTC per day\n● Mining margin percentage for the quarter was 38% an increase on the 34% mining margin percentage achieved in Q4 2023\n● Gain on sale of Mirabel facility of $3.0 million, net of tax\n● Net loss of $3.2 million\n● Adjusted EBITDA of $3.8 million\nManagement Commentary\nThomas Chippas, Chief Executive Officer of Argo, said: \"The Argo team's continued focus on financial discipline and operational excellence can be seen in this quarter's results. Q1 was strong in terms of revenue and earnings, both of which increased compared to Q4 2023. We exited the Bitcoin halving with cash of over $12 million, Q1 debt reduction of over $12 million and streamlined Quebec operations resulting from the sale of Mirabel. We are enthusiastic about Argo's future growth and development, and are dedicated to delivering value to our shareholders.\"\nEarnings Conference Call\nArgo will host a conference call to discuss its results at 10:00 ET / 15:00 BST today, Thursday 23 May 2024. The live webcast of the call can be accessed via the Investor Meet Company platform.\nInvestors can sign up to Investor Meet Company and add Argo Blockchain via the following link: https://www.investormeetcompany.com/argo-blockchain-plc/register-investor\nInvestors already following Argo Blockchain on the Investor Meet Company platform will be invited automatically.\nInside Information and Forward-Looking Statements\nThis announcement contains inside information and includes forward-looking statements which reflect the Company's current views, interpretations, beliefs or expectations with respect to the Company's financial performance, business strategy and plans and objectives of management for future operations. These statements include forward-looking statements both with respect to the Company and the sector and industry in which the Company operates. Statements which include the words \"remains confident\", \"expects\", \"intends\", \"plans\", \"believes\", \"projects\", \"anticipates\", \"will\", \"targets\", \"aims\", \"may\", \"would\", \"could\", \"continue\", \"estimate\", \"future\", \"opportunity\", \"potential\" or, in each case, their negatives, and similar statements of a future or forward-looking nature identify forward-looking statements. All forward-looking statements address matters that involve risks and uncertainties because they relate to events that may or may not occur in the future, including the risk that the Company may receive the benefits contemplated by its transactions with Galaxy, the Company may be unable to secure sufficient additional financing to meet its operating needs, and the Company may not generate sufficient working capital to fund its operations for the next twelve months as contemplated. Forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause the Company's actual results, prospects and performance to differ materially from those indicated in these statements. In addition, even if the Company's actual results, prospects and performance are consistent with the forward-looking statements contained in this document, those results may not be indicative of results in subsequent periods. These forward-looking statements speak only as of the date of this announcement. Subject to any obligations under the Prospectus Regulation Rules, the Market Abuse Regulation, the Listing Rules and the Disclosure and Transparency Rules and except as required by the FCA, the London Stock Exchange, the City Code or applicable law and regulations, the Company undertakes no obligation publicly to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. For a more complete discussion of factors that could cause our actual results to differ from those described in this announcement, please refer to the filings that Company makes from time to time with the United States Securities and Exchange Commission and the United Kingdom Financial Conduct Authority, including the section entitled \"Risk Factors\" in the Company's Annual Report on Form 20-F.\nNon-IFRS Measures\nBitcoin and Bitcoin Equivalent Mining Margin and Adjusted EBITDA are financial measures not defined by IFRS. We believe Bitcoin and Bitcoin Equivalent Mining Margin and Adjusted EBITDA have limitations as analytical tools. In particular, Bitcoin and Bitcoin Equivalent Mining Margin excludes the depreciation of mining equipment and so does not reflect the full cost of our mining operations, and it also excludes the effects of fluctuations in the value of digital currencies and realized losses on the sale of digital assets, which affect our IFRS gross profit. Further, Adjusted EBITDA removes such effects of our capital structure, asset base and tax consequences, but additionally excludes any unrealized foreign exchange gains or losses, stock-based compensation charges and other one-time impairments and costs that are not expected to be repeated in order to provide greater insight into the cash flow being produced from our operating business, without the influence of extraneous events. These measures should not be considered as an alternative to gross margin or net income/(loss), as applicable, determined in accordance with IFRS, or other IFRS measures. These measures are not necessarily comparable to similarly titled measures used by other companies. As a result, you should not consider these measures in isolation from, or as a substitute analysis for, our gross margin or net income/(loss), as applicable, as determined in accordance with IFRS.\nGROUP STATEMENT OF COMPREHENSIVE INCOME\n\n\n\n\n\n\nFigures in '000 except per share\n\n \nThree Months Ended March 31,2024\n \n \nThree Months Ended March 31, 2023\n \n\n\n\n\n\n\n\n \n$\n \n \n$\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Revenues\n     \n \n \n16,840\n \n \n \n11,264\n \n\n\n\n\n      Direct costs\n     \n \n \n(10,439\n)\n \n \n(6,058\n)\n\n\n\n\nMining margin\n\n \n \n6,401\n \n \n \n5,206\n \n\n\n\n\n      Depreciation of mining equipment\n     \n \n \n(4,833\n)\n \n \n(6,015\n)\n\n\n\n\n      Change in fair value of digital currencies\n     \n \n \n293\n \n \n \n(77\n)\n\n\n\n\nGross profit (loss)\n\n \n \n1,861\n \n \n \n(886\n)\n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Operating costs and expenses\n     \n \n \n(3,152\n)\n \n \n(3,558\n)\n\n\n\n\n      Restructuring and transaction related fees\n     \n \n \n(561\n)\n \n \n(797\n)\n\n\n\n\n      Foreign exchange\n     \n \n \n192\n \n \n \n634\n \n\n\n\n\n      Loss on hedging\n     \n \n \n(397\n)\n \n \n-\n \n\n\n\n\n      Depreciation/amortisation\n     \n \n \n(232\n)\n \n \n(319\n)\n\n\n\n\n      Share based compensation\n     \n \n \n(1,911\n)\n \n \n(984\n)\n\n\n\n\nOperating profit (loss)\n\n \n \n(4,200\n)\n \n \n(5,910\n)\n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Gain on sale of subsidiary (Mirabel)\n     \n \n \n3,397\n \n \n \n-\n \n\n\n\n\n      Gain on disposal of fixed assets\n     \n \n \n75\n \n \n \n-\n \n\n\n\n\n      Finance costs\n     \n \n \n(2,317\n)\n \n \n(3,283\n)\n\n\n\n\n      Other income\n     \n \n \n230\n \n \n \n1\n \n\n\n\n\nProfit/(loss) before taxation\n\n \n \n(2,815\n)\n \n \n(9,192\n)\n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Tax credit / (expense)\n     \n \n \n(340\n)\n \n \n-\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nProfit/(loss) after taxation\n\n \n \n(3,155\n)\n \n \n(9,192\n)\n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nOther comprehensive income\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Items which may be subsequently reclassified to profit or loss:\n     \n \n \n \n \n \n \n \n \n\n\n\n\n      Currency translation reserve\n     \n \n \n728\n \n \n \n(401\n)\n\n\n\n\nTotal other comprehensive income (loss), net of tax\n\n \n \n728\n \n \n \n(401\n)\n\n\n\n\nTotal comprehensive loss attributable to the equity holders of the Company\n\n \n \n(2,426\n)\n \n \n(9,593\n)\n\n\n\n\nEarnings per share attributable to equity owners\n\n \n \n \n \n \n \n \n \n\n\n\n\nBasic loss per share\n\n \n$\n(0.01\n)\n \n$\n(0.02\n)\n\n\n\n\nDiluted loss per share\n\n \n$\n(0.01\n)\n \n$\n(0.02\n)\n\n\n\n\nThe income statement has been prepared on the basis that all operations are continuing operations.\nGROUP STATEMENT OF FINANCIAL POSITION\n\n\n\n\n\n\n\n\n\n \n\n\nAs at March 31,\n\n\n2024\n\n \n \n\n\nAs at December 31,\n\n\n2023\n\n \n\n\n\n\n      Figures in '000\n     \n \n$\n \n \n$\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nASSETS\n\n \n \n \n \n \n \n \n \n\n\n\n\nNon-current assets\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Investments at fair value through profit or loss\n     \n \n \n400\n \n \n \n400\n \n\n\n\n\n      Investments accounted for using the equity method\n     \n \n \n-\n \n \n \n-\n \n\n\n\n\n      Intangible fixed assets\n     \n \n \n1,044\n \n \n \n888\n \n\n\n\n\n      Property, plant and equipment\n     \n \n \n53,771\n \n \n \n59,728\n \n\n\n\n\n      Right of use assets\n     \n \n \n-\n \n \n \n-\n \n\n\n\n\nTotal non-current assets\n\n \n \n55,215\n \n \n \n61,016\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nCurrent assets\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Cash and cash equivalents\n     \n \n \n12,444\n \n \n \n7,443\n \n\n\n\n\n      Trade and other receivables\n     \n \n \n2,214\n \n \n \n3,835\n \n\n\n\n\n      Assets held for sale\n     \n \n \n-\n \n \n \n3,261\n \n\n\n\n\n      Digital assets\n     \n \n \n810\n \n \n \n385\n \n\n\n\n\nTotal current assets\n\n \n \n15,468\n \n \n \n14,924\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nTotal assets\n\n \n \n70,683\n \n \n \n75,940\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nEQUITY AND LIABILITIES\n\n \n \n \n \n \n \n \n \n\n\n\n\nEquity\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Share Capital\n     \n \n \n763\n \n \n \n712\n \n\n\n\n\n      Share Premium\n     \n \n \n219,522\n \n \n \n209,779\n \n\n\n\n\n      Share based payment reserve\n     \n \n \n12,680\n \n \n \n11,844\n \n\n\n\n\n      Currency translation reserve\n     \n \n \n(30,858\n)\n \n \n(30,129\n)\n\n\n\n\n      RSU/PSU Reserve\n     \n \n \n1,156\n \n \n \n322\n \n\n\n\n\n      Accumulated surplus / (deficit)\n     \n \n \n(195,525\n)\n \n \n(192,370\n)\n\n\n\n\nTotal equity\n\n \n \n7,738\n \n \n \n158\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nCurrent liabilities\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Trade and other payables\n     \n \n \n10,670\n \n \n \n11,175\n \n\n\n\n\n      Loans and borrowings\n     \n \n \n12,680\n \n \n \n14,320\n \n\n\n\n\n      Corporation Tax\n     \n \n \n449\n \n \n \n-\n \n\n\n\n\n      Liabilities associated with assets held for sale\n     \n \n \n-\n \n \n \n2,090\n \n\n\n\n\nTotal current liabilities\n\n \n \n23,799\n \n \n \n27,585\n \n\n\n\n\nNon-current liabilities\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Issued debt - bond\n     \n \n \n38,346\n \n \n \n38,170\n \n\n\n\n\n      Loans\n     \n \n \n800\n \n \n \n10,027\n \n\n\n\n\nTotal liabilities\n\n \n \n62,945\n \n \n \n75,782\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nTotal equity and liabilities\n\n \n \n70,683\n \n \n \n75,940\n \n\n\n\n\nGROUP STATEMENT OF CASH FLOWS\n\n\n\n\n\n\n\n\n\n \n\n\nThree Months Ended March 31,\n\n\n2024\n\n \n \n\n\nThree Months Ended March 31,\n\n\n2023\n\n \n\n\n\n\nFigures in '000\n\n \n$\n \n \n$\n \n\n\n\n\nCash flows from operating activities\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Loss before tax\n     \n \n \n(2,815\n)\n \n \n(9,192\n)\n\n\n\n\nAdjustments for:\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Depreciation/Amortisation\n     \n \n \n5,065\n \n \n \n6,334\n \n\n\n\n\n      Foreign exchange\n     \n \n \n(192\n)\n \n \n(634\n)\n\n\n\n\n      Fair value change in digital assets through profit or loss\n     \n \n \n(293\n)\n \n \n78\n \n\n\n\n\n      Revenue from digital assets\n     \n \n \n(16,840\n)\n \n \n(11,438\n)\n\n\n\n\n      Loss on hedging\n     \n \n \n397\n \n \n \n-\n \n\n\n\n\n      Finance cost\n     \n \n \n2,317\n \n \n \n3,283\n \n\n\n\n\n      Gain on disposal of fixed assets\n     \n \n \n(75\n)\n \n \n-\n \n\n\n\n\n      Proceeds from sale of digital assets\n     \n \n \n16,423\n \n \n \n11,783\n \n\n\n\n\n      Share based compensation\n     \n \n \n1,911\n \n \n \n984\n \n\n\n\n\n      Gain on sale of subsidiary\n     \n \n \n(3,397\n)\n \n \n-\n \n\n\n\n\nCash flow from operating activities before working capital changes\n\n \n \n2,500\n \n \n \n1,197\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nWorking capital changes:\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Increase in trade and other receivables\n     \n \n \n1,086\n \n \n \n(514\n)\n\n\n\n\n      Decrease in trade and other payables\n     \n \n \n(307\n)\n \n \n(3,359\n)\n\n\n\n\n      Income taxes paid\n     \n \n \n-\n \n \n \n(213\n)\n\n\n\n\nNet cash used in operating activities\n\n \n \n3,279\n \n \n \n(2,889\n)\n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nInvesting activities\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Interest received\n     \n \n \n126\n \n \n \n-\n \n\n\n\n\n      Proceeds from sale of tangible fixed assets\n     \n \n \n894\n \n \n \n-\n \n\n\n\n\n      Proceeds from sale of subsidiary and investment\n     \n \n \n6,119\n \n \n \n-\n \n\n\n\n\nNet cash used in investing activities\n\n \n \n7,139\n \n \n \n-\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nFinancing activities\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Lease payments\n     \n \n \n-\n \n \n \n-\n \n\n\n\n\n      Loan repayments\n     \n \n \n(12,617\n)\n \n \n(245\n)\n\n\n\n\n      Interest paid\n     \n \n \n(1.966\n)\n \n \n(2,424\n)\n\n\n\n\n      Proceeds from shares issued - net of issue costs\n     \n \n \n9,349\n \n \n \n-\n \n\n\n\n\nNet cash generated used in financing activities\n\n \n \n(5,234\n)\n \n \n(2,669\n)\n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nNet decrease in cash and cash equivalents\n\n \n \n5,185\n \n \n \n(5,558\n)\n\n\n\n\n      Effect of foreign exchange on cash\n     \n \n \n(184\n)\n \n \n16\n \n\n\n\n\n      Cash and cash equivalents, beginning of period\n     \n \n \n7,443\n \n \n \n20,092\n \n\n\n\n\n      Cash and cash equivalents at end of period\n     \n \n \n12,444\n \n \n \n14,550\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nThe table below reconciles Adjusted EBITDA to net income/(loss), the most directly comparable IFRS measure, for the three months ended 31 March 2024 and three months ended 31 March 2023.\n\n\n\n\n\n\n\n\n\n \n\n\nThree Months Ended March 31,\n\n\n2024\n\n \n \n\n\nThree Months Ended March 31,\n\n\n2023\n\n \n\n\n\n\n      Figures in '000\n     \n \n$\n \n \n$\n \n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\nNet income/(loss)\n\n \n \n(3,155\n)\n \n \n(9,192\n)\n\n\n\n\n\n\n\n \n \n \n \n \n \n \n \n\n\n\n\n      Interest expense\n     \n \n \n2,317\n \n \n \n3,283\n \n\n\n\n\n      Depreciation / amortisation\n     \n \n \n5,065\n \n \n \n6,334\n \n\n\n\n\n      Income tax (credit) / expense\n     \n \n \n340\n \n \n \n-\n \n\n\n\n\nEBITDA\n\n \n \n4,567\n \n \n \n425\n \n\n\n\n\n      Restructuring and transaction related fees\n     \n \n \n561\n \n \n \n797\n \n\n\n\n\n      Foreign exchange gain\n     \n \n \n(192\n)\n \n \n(634\n)\n\n\n\n\n      Share based payment charge\n     \n \n \n1,911\n \n \n \n984\n \n\n\n\n\n      Gain on sale of investment\n     \n \n \n(3,397\n)\n \n \n-\n \n\n\n\n\n      Loss on hedging\n     \n \n \n397\n \n \n \n-\n \n\n\n\n\nAdjusted EBITDA\n\n \n \n3,847\n \n \n \n1,572\n \n\n\n\n\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 74930989014guy.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":[],"hasMoreComments":false,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}