Argo Blockchain PLC Announces Hosting Update

Rhea-AI Summary

Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) has announced significant updates to its hosting arrangements. The company has expanded its hosting agreement with Merkle Standard , increasing the number of S19J Pro miners at Merkle's Memphis, Tennessee location to 9,315 units, up from the previously reported 8,113 in February 2025.

Additionally, 4,000 S19J Pro miners will be hosted at Merkle's Washington State facility, while 2,500 units will be installed at Argo's Baie Comeau, Quebec facility. The company has also agreed to sell 2,000 S19J Pro miners for approximately $550,000.

By the end of April 2025, Argo expects 69% of the roughly 23,000 miners previously hosted at Helios to be operational. The company will evaluate market conditions to determine whether to sell or rehost the remaining approximately 5,000 S19J Pro miners.

Positive

• Expanded hosting capacity with Merkle Standard , increasing Tennessee location miners by 15%
• Secured additional hosting for 4,000 miners in Washington State
• Generated $550,000 in cash through miner sale
• 69% of former Helios miners to be operational by April 2025

Negative

• 31% of former Helios miners still pending deployment solution
• 5,000 S19J Pro miners remain without confirmed hosting or sale plans

LONDON, GB / ACCESS Newswire / March 20, 2025 / Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) is pleased to announce the following hosting and miner updates:

• The Company has amended its hosting arrangement with Merkle Standard LLC ("Merkle") to host a total of 9,315 S19J Pro miners at Merkle's Memphis, Tennessee location, up from the initial 8,113 reported in February 2025.

• A further 4,000 S19J Pro miners will be hosted at Merkle's Washington State location.

• The Company has reached an agreement to sell 2,000 S19J Pro miners for cash proceeds of approximately $550,000.

• As previously disclosed, an additional 2,500 S19J Pro miners will be installed at Argo's Baie Comeau, Quebec facility where the Company currently has available capacity.

By the end of April 2025, after these deployments, the Company expects 69% of the approximately 23,000 miners previously hosted at Helios to be operational. After the sale of 2,000 units, the Company will have approximately 5,000 SJ19 Pro's remaining. The Company will look to either sell or rehost these based on market conditions.

This announcement contains inside information.

For further information please contact:

Argo Blockchain
Investor Relations	ir@argoblockchain.com
Tennyson Securities
Corporate Broker Peter Krens	+44 207 186 9030
Fortified Securities
Joint Broker Guy Wheatley, CFA	+44 7493 989014 guy.wheatley@fortifiedsecurities.com
Tancredi Intelligent Communication UK & Europe Media Relations	argoblock@tancredigroup.com

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec 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.

Forward looking statements

This announcement contains "forward-looking statements," which can be identified by words like "may," "will," "likely," "should," "expect," "anticipate," "future," "plan," "believe," "intend," "goal," "seek," "estimate," "project," "continue" and similar expressions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The information in this announcement about future plans and objectives of the Company, including the expectation to have 69% of the approximately 23,000 miners previously hosted at Helios to be operational, and the anticipated closing of the sale of 2,000 S19J Pro miners, are forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, market and other conditions, the principal risks and uncertainties listed in the risk factors set forth in our Annual Report and Financial Statements and Form 20-F for the year ended 31 December 2023, and our Interim Report as of 30 September 2024.

This 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.

SOURCE: Argo Blockchain PLC

View the original press release on ACCESS Newswire

FAQ

How many miners will Argo Blockchain (ARBK) host at Merkle's Memphis facility?

Argo will host 9,315 S19J Pro miners at Merkle's Memphis, Tennessee location, increased from 8,113 units reported in February 2025.

What percentage of Argo's (ARBK) former Helios miners will be operational by April 2025?

69% of the approximately 23,000 miners previously hosted at Helios will be operational by the end of April 2025.

How much will Argo Blockchain receive from selling 2,000 S19J Pro miners?

Argo will receive approximately $550,000 in cash proceeds from the sale of 2,000 S19J Pro miners.

How many S19J Pro miners will ARBK host at their Quebec facility?

2,500 S19J Pro miners will be installed at Argo's Baie Comeau, Quebec facility where they currently have available capacity.