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 (LSE:ARB, NASDAQ:ARBK), a global leader in cryptocurrency mining, has released its operational update for May 2024. During this month, the company mined 45 Bitcoin or Bitcoin equivalents, averaging 1.5 BTC per day, which represents a 55% decrease compared to April 2024 due to the Bitcoin halving event.
May 2024 mining revenue was $2.9 million, down 56% from $6.6 million in April 2024. Despite the revenue drop, the company achieved mining margins of approximately 30% through lower power prices and fleet optimization. As of May 31, 2024, Argo held 11 BTC equivalents.
The company also issued 626,883 new ordinary shares as part of the 2022 Equity Incentive Plan, making the total share capital 578,397,673 ordinary shares with equal voting rights.
Argo Blockchain plc (LSE:ARB, NASDAQ:ARBK), a global leader in cryptocurrency mining, has released its unaudited financial results for Q1 2024, ending March 31, 2024. The company reported a revenue increase of 4% to $16.8 million compared to Q4 2023. Argo mined 319 Bitcoin, averaging 3.5 BTC per day, with a mining margin of 38%, up from 34% in the previous quarter. The company reduced its debt by $12.4 million, ending the quarter with $12.4 million in cash and 11 BTC. A gain of $3.0 million was recorded from the sale of the Mirabel facility. Despite these positives, Argo reported a net loss of $3.2 million for the quarter. Adjusted EBITDA stood at $3.8 million.
Argo Blockchain (LSE:ARB)(NASDAQ:ARBK) will release its Q1 2024 financial results on May 23, 2024. A conference call for shareholders and potential investors is scheduled for the same day at 10:00 ET / 15:00 BST. The call will be accessible via the Investor Meet Company platform, where questions can be submitted in advance or during the live session. Additionally, the company announced that as of April 30, 2024, its share capital consists of 577,770,790 ordinary shares, each with equal voting rights and no shares held in treasury. This information complies with the FCA Disclosure Guidance and Transparency Rules.
Argo Blockchain has announced its Annual General Meeting (AGM) scheduled for June 6, 2024, at 15:00 BST in London. Shareholders can attend in person or via the Investor Meet Company platform, though online participants cannot vote. Argo encourages shareholders to submit questions in advance via email or the platform, which will be addressed during the AGM and posted online afterward. The Notice of AGM and proxy forms are being sent to shareholders and will be available on Argo's website shortly.
Argo Blockchain plc provided an operational update for April 2024, mining 99 Bitcoin, maintaining daily production despite the halving, with mining revenue at $6.6 million. The Company also granted Equity Awards to employees as per the 2022 Equity Incentive Plan.
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