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 (ARBK) operates at the intersection of cryptocurrency mining and sustainable technology, leveraging renewable energy to power its North American data centers. This news hub provides investors and industry observers with comprehensive updates on the company's strategic initiatives, operational milestones, and market developments.
Access authoritative reporting on ARBK's cryptocurrency mining operations, high-performance computing expansion, and energy-efficient infrastructure projects. Our curated collection includes official press releases, financial disclosures, and analysis of key business moves – from equipment upgrades to partnership announcements.
Key coverage areas include quarterly earnings reports, mining capacity updates, sustainability initiatives, and technological innovations. Bookmark this page for real-time updates on ARBK's progress in optimizing blockchain infrastructure while maintaining its competitive edge in renewable-powered operations.
For stakeholders tracking the evolution of energy-conscious crypto mining, this resource offers essential updates on ARBK's operational efficiency metrics and strategic positioning within the blockchain ecosystem. Return regularly for unfiltered access to primary source materials and expert commentary on company developments.
Argo Blockchain Plc (NASDAQ: ARBK) announced an update on Argo Labs, its innovation arm focusing on cryptocurrency ecosystem opportunities. The company has dedicated approximately 10% of its crypto assets to Argo Labs, which will engage in network participation and efficient deployment of crypto assets. Vakeesan Mahalingam has been appointed as the Head of Argo Labs, bringing over 8 years of investment experience. The initiative aims to support Argo's mining operations and contribute to the wider digital asset ecosystem.
Argo Blockchain has released its operational update for December 2021, reporting a total of 214 Bitcoin mined, up from 185 BTC in November, leading to a total of 2,045 BTC for the year. December's mining revenue was £7.82 million (approximately $10.55 million), a decline from November's £8.29 million. The mining margin decreased to 83% from 86% in November. The construction of the Helios Mining Facility in Texas is on track for completion in the first half of 2022. Argo currently holds 2,595 BTC as of December 31, 2021.
Argo Blockchain has settled its litigation with Celsius, resolving mutual claims in a New Jersey federal court. The agreement includes the termination of a lease agreement initiated on November 2, 2020, with Argo paying $6,320,947.64 to settle financial obligations. In exchange, Celsius transferred ownership of Bitmain S19 Antminer S19 Pro mining machines to Argo. Additionally, Argo terminated its mining services agreement with Celsius, receiving payment in Bitcoin. Further terms of the settlement were not disclosed.
Argo Blockchain announced its operational update for November 2021, reporting the mining of 185 Bitcoin, up from 167 in October. Total Bitcoin mined year-to-date reaches 1,831. Revenue for November is £8.29 million (approx. $11.20 million), a growth from £7.24 million ($9.75 million) in October. The mining margin remains consistent at 86%. Argo's total mining capacity increased by 310 PH/s, reaching 1.605 EH/s. As of November's end, Argo holds 2,317 Bitcoin or Bitcoin equivalents.
Argo Blockchain has successfully closed its SEC-registered public offering of $40.0 million in 8.75% Senior Notes maturing in 2026. The offering yielded net proceeds of approximately $38.6 million. Proceeds will be directed toward general corporate purposes, specifically for the construction and acquisition of mining hardware for its Texas facility, and potential investments in complementary blockchain businesses. The Notes will commence trading on Nasdaq under the symbol ARBL.
Argo Blockchain announced significant transactions involving company executives on November 16, 2021. CEO Peter Wall purchased 7,100 ADRs (representing 71,000 Ordinary Shares) at $19.132 per ADR, increasing his total holdings to 1,116,000 shares, representing 0.24% of total voting rights. Meanwhile, Alex Gow acquired 40,000 Ordinary Shares at 132 pence each, bringing his total to 815,000 shares (0.17% voting rights). These insider purchases may reflect confidence in the company's prospects.
Argo Blockchain has amended its announcement regarding the pricing of its public offering of 8.75% Senior Unsecured Notes due 2026, now totaling $40 million. The corrected net proceeds from the offering are approximately $38.6 million. These funds will be allocated for general corporate purposes, including the construction and purchase of mining machines for a Texas facility. The offering is expected to close on November 17, 2021, with an option for underwriters to purchase an additional $6 million. The notes will potentially be listed on Nasdaq under the symbol ARBKL.
Argo Blockchain announced the pricing of its public offering of $40 million aggregate principal amount of 8.75% Senior Unsecured Notes due 2026. The net proceeds, approximately $38.6 million, will support general corporate purposes, including the construction of a new cryptocurrency mining facility in Texas and potential acquisitions. The offering is expected to close on November 17, 2021, with a 30-day option for underwriters to purchase an additional $6 million in Notes. The Notes received a "B" rating from Egan-Jones Ratings Company.
Argo Blockchain has announced the exercise of options for 1,000,000 ordinary shares at an exercise price of £0.07 each, resulting in gross proceeds of £70,000. Following the expected admission of these shares on or around November 12, 2021, the total number of ordinary shares in issue will rise to 468,082,335. These new shares will rank equally with existing shares. This announcement includes inside information relevant to shareholders.
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