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 (LSE:ARB)(NASDAQ:ARBK) has secured £4.2 million through a subscription of 76,900,000 ordinary shares at 5.5 pence per share. The funds will support strategic initiatives, including the potential relocation or sale of mining equipment from the Helios facility in Texas, maintaining Bitcoin mining operations in Quebec, and exploring diversification into high-performance computing (HPC). The subscription will be executed through a cashbox mechanism, with the shares ranking pari passu with existing ordinary shares. Following the subscription, Argo will have 717,250,353 ordinary shares in issue.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) announced the vesting of Performance Share Units (PSUs) for 2,375,000 Ordinary Shares to CEO Thomas Chippas under the Company's 2022 Equity Incentive Plan. Following this vesting on November 27, 2024, Chippas will own approximately 0.37% of the company's issued share capital. The company's total Ordinary Shares in issue will be 640,350,353, which shareholders can use as the denominator for calculating their interest notifications under FCA Disclosure Guidelines.
Argo Blockchain reported Q3 2024 financial results with revenue of $7.5 million, down from $10.4 million in Q3 2023. The company mined 123 BTC during the quarter (1.3 BTC per day). Mining margin decreased to 8% from 58% year-over-year. Net loss was $6.3 million, improving from $9.9 million loss in Q3 2023. The company ended Q3 with $2.5 million cash and 4 BTC, while reducing debt by $12.4 million. Post-quarter, a class action lawsuit was dismissed, and Argo entered discussions for HPC hosting expansion at Baie-Comeau facility. However, Galaxy informed non-renewal of hosting agreement at Helios beyond December 2024.
Argo Blockchain, a global cryptocurrency mining company, has announced it will release its Q3 2024 financial results on November 20, 2024. The company will host a conference call at 10:00 ET / 15:00 GMT on the same day to discuss the results. The call will be accessible to all shareholders via the Investor Meet Company platform, where participants can submit questions before and during the presentation.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) has announced two significant updates. First, the company has signed a non-binding LOI with BE Global Development to explore expanding its Baie-Comeau facility into high-performance computing (HPC), diversifying beyond Bitcoin mining into data processing and AI applications. This expansion will require additional financing and may need shareholder approval.
Second, Galaxy has informed Argo that it will not renew the current hosting agreement at the Helios facility beyond December 28, 2024. Galaxy plans to utilize the space for HPC operations instead. Argo is evaluating options for its fleet of 23,000 S19j Pro miners currently hosted at Helios.
Argo Blockchain reported its operational update for October 2024, showing improved mining performance. The company mined 46 Bitcoin (1.5 BTC per day), marking a 24% increase from September's production. Mining revenue reached $3.0 million, up 36% from September's $2.2 million. The improved performance was attributed to increased uptime due to lower power costs and stronger hashprice during October. The company reported holding two BTC equivalent at month's end.
Argo Blockchain plc, a global cryptocurrency mining leader (LSE:ARB)(NASDAQ:ARBK), has released its operational update for September 2024. The company mined 37 Bitcoin (BTC) during the month, maintaining a consistent rate of 1.2 BTC per day from August 2024. However, BTC production was affected by economic curtailments and low hash price.
Mining revenue in September 2024 decreased to $2.2 million from $2.3 million in August 2024. The mining margin for Q3 fell below 10%, lower than Q2 due to a lower hash price and higher power prices. As of September 30, 2024, Argo Blockchain held 4 BTC equivalent.
Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) announced its H1 2024 results, showing an 18% increase in revenue to $29.3 million compared to H1 2023. Despite the Bitcoin halving and a 46% decrease in Bitcoin mined, the company's mining margin improved to $11.5 million. Key highlights include:
- Reduced Galaxy loan from $23.5 million to $5.3 million, fully repaid in August 2024
- Raised $9.9 million through share issuance in January 2024
- Sold Mirabel data centre for $6.1 million, consolidating operations
- Recorded $22 million impairment on mining machines
- Net loss of $32.7 million for H1 2024
- Adjusted EBITDA of $5.7 million
CEO Thomas Chippas emphasized the company's focus on financial discipline and operational efficiency, positioning Argo to explore growth opportunities and strategic initiatives.
Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK), a global leader in cryptocurrency mining, has announced that its Q2 2024 results will be released on August 28, 2024. The company will host a conference call to discuss the results at 10:00 ET / 15:00 BST on the same day. The call will be accessible via the Investor Meet Company platform, allowing existing and potential shareholders to participate and submit questions before or during the presentation.
Investors can register for the event through the provided link. Those already following Argo Blockchain on the platform will receive automatic invitations. This announcement demonstrates Argo's commitment to transparency and shareholder engagement, providing an opportunity for investors to gain insights into the company's performance and future outlook.
Argo Blockchain plc, a global cryptocurrency mining leader (LSE:ARB)(NASDAQ:ARBK), has applied for a block listing of 31,406,429 ordinary shares with the Financial Conduct Authority and London Stock Exchange. This is related to a warrant granted to an investor from the company's July 30, 2024 fundraising. The Block Listing Shares are expected to be admitted to trading on August 16, 2024. These shares represent the remaining balance of Argo's exemption from issuing a prospectus under Prospectus Regulation Rules. The company plans to apply for an additional block listing of 26,393,571 ordinary shares in January 2025. When issued, the new shares will have equal ranking with existing ordinary shares.
