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 (NASDAQ: ARBK) generates a steady flow of news related to its role as a blockchain technology company focused on large-scale cryptocurrency mining. Company announcements highlight operational updates, financial reporting, restructuring developments, and governance changes that are relevant to investors tracking ARBK stock and the broader digital asset mining space.
Many news items center on Argo’s mining operations and infrastructure. Releases describe the refurbishment and redeployment of S19J Pro miners, the transition of units from immersion-based to air-cooled configurations, and hosting arrangements with Merkle Standard LLC in Memphis, Tennessee, and Washington State. Updates also cover the use of the Baie-Comeau facility in Quebec, expectations for the percentage of miners previously hosted at Helios that will be operational, and changes in the company’s hashrate as machines are installed, sold, or rehosted.
Financial and regulatory communications are another key theme. Argo publishes annual results prepared under International Financial Reporting Standards, discusses going concern assessments and material uncertainties, and reports on restatements of its Form 20-F in response to SEC comments on digital asset accounting. News releases also detail preliminary financial highlights, delays in financial statement publication, and the lifting or suspension of listings in line with UK Listing Rules and Financial Conduct Authority requirements.
Corporate actions and capital structure changes feature prominently in the news feed. The company reports on its UK restructuring plan under Part 26A of the Companies Act 2006, court hearings, creditor and shareholder meetings, and the equitisation of secured debt and 8.75% senior notes due 2026. Announcements also cover changes to the American Depositary Share ratio, delisting from the London Stock Exchange, and efforts to maintain Nasdaq listing compliance.
Governance and insider activity are reflected in updates on executive appointments and departures, grants of performance share units, and purchases of American Depositary Receipts by persons discharging managerial responsibilities. Some filings and press releases note Argo’s exploration of opportunities in artificial intelligence and high-performance computing, alongside its continued emphasis on renewable-powered, climate positive cryptocurrency mining. Investors and analysts can use this news page to follow these operational, financial, and strategic developments over time.
Argo Blockchain plc announced its audited results for the year ended December 31, 2021, showcasing a 291% increase in revenue to £74.2 million ($100.1 million). This surge was fueled by a significant rise in Argo's hashrate, a temporary decline in difficulty on the Bitcoin network, and higher Bitcoin prices. The company reported a 2,033% increase in net income to £30.8 million ($41.5 million) and achieved an EBITDA of £52.9 million ($71.4 million), reflecting a 594% growth. As of March 31, 2022, Argo held 2,700 Bitcoin worth £93.6 million ($122.9 million).
Argo Blockchain announces the release of its 2021 full year results after the close of trading on Nasdaq on April 27, 2022. A conference call to discuss these results will take place on April 28, 2022, at 08:00 ET / 12:00 GMT, open to all shareholders. Interested investors can access the live webcast via the Investor Meet Company platform. Information on how to join is available through the provided link. Argo Blockchain is a prominent player in cryptocurrency mining, focusing on clean energy operations.
Argo Blockchain announced an operational update for March 2022, revealing the mining of 163 Bitcoin, up from 135 in February. Mining revenue reached £5.22 million ($6.92 million), a rise from £4.15 million ($5.58 million). The mining margin improved to approximately 74%, compared to 71% the previous month. The company appointed Seif El-Bakly as Chief Operating Officer, enhancing its leadership team. Additionally, substantial progress on the Helios facility construction was reported, with operations expected to start in Q2 2022.
Argo Blockchain has announced a fleet swap agreement with Core Scientific that involves exchanging its existing Antminer S19 mining fleet for S19J Pro miners. This deal, covering about 60% of Argo's mining capacity, aims to lower operational costs as the company transitions to owning its facilities. The swap will take place in stages between May and July 2022, with Argo avoiding logistics and downtime associated with relocating machines. The agreement signifies a strategic move towards self-sufficiency in mining operations.
Argo Blockchain Plc announced that CEO Peter Wall will present at several investor conferences throughout March 2022. Key events include the 34th Annual Roth Conference on March 14, the Blockchain Infrastructure & Mining Summit on March 17, and the Crypto and Blockchain Summit on March 29-30. Wall expressed enthusiasm for discussing the company's achievements and strategies to expand its mining operations. Updates regarding these events will be available on Argo's website.
Argo Blockchain has entered into a $26.66 million equipment financing agreement with NYDIG to enhance its Helios cryptocurrency mining facility in Texas. The agreement features an interest rate of 8.25% over four years, secured by the purchased equipment. This funding will facilitate the completion of the 200MW Helios facility, expected to commence operations in the first half of 2022. CEO Peter Wall expressed enthusiasm for this non-dilutive funding, highlighting the significance of this partnership in advancing their operations.
Argo Blockchain provided an operational update for February 2022, reporting a decline in Bitcoin production to 135 BTC, down from 172 BTC in January, attributed to heightened global hashrate and extreme weather conditions. Mining revenue for February was £4.15 million ($5.58 million), a decrease from £5.26 million ($7.10 million) in January. The Bitcoin mining margin was approximately 71%. Additionally, the company signed a supply agreement with Intel for a new blockchain accelerator and updated its Helios facility construction, securing an additional 600 MW of power.
Argo Blockchain has appointed Raghav Chopra as an independent non-executive director, effective February 23, 2022. Chopra brings over 15 years of experience in digital assets and technology, having previously served as a Portfolio Manager at AllianceBernstein and held positions at The Carlyle Group and Goldman Sachs. Chief Executive Peter Wall expressed confidence that Chopra's insights will be essential as Argo enhances its position in cryptocurrency mining. The company continues to prioritize clean energy in its operations.
Argo Blockchain provided an operational update for January 2022, reporting a decrease in Bitcoin mining to 172 BTC from 214 BTC in December due to increased network difficulty. Mining revenue fell to £5.26 million ($7.10 million), down from £7.82 million ($10.55 million) in December, with a Bitcoin and Bitcoin Equivalent Mining Margin of 74%, a decline from 83%. The company holds 2,748 Bitcoin, including 262 BTC equivalents. CEO Peter Wall noted progress towards the new Helios mining facility, aiming for growth in 2022.
Argo Blockchain (LSE: ARB; NASDAQ: ARBK) announced an update on Argo Labs, its innovation division focused on the crypto sector, allocating 10% of its crypto assets to this initiative. Vakeesan Mahalingam has been appointed as the Head of Argo Labs, guiding a team to support blockchain network participation and strategic asset deployment. The company aims to leverage its crypto treasury in areas like decentralized finance (DeFi) and NFTs, enhancing its role in the digital asset ecosystem, as highlighted by CEO Peter Wall.