Argo Blockchain PLC 3,800 new packages sold ahead of schedule (4346C)
October 01 2018 - 1:00AM
UK Regulatory
TIDMARB
RNS Number : 4346C
Argo Blockchain PLC
01 October 2018
PRESS RELEASE -
1(st) October 2018
Argo Blockchain PLC
('Argo' or 'the Company')
Argo sells 3,800 new packages ahead of schedule
Argo, a UK-based provider of cryptocurrency mining services
(LSE: ARB), is pleased to announce a ten-fold increase in its sold
packages to 4,200, marking the first significant ramp-up of the
Company's revenues since its Initial Public Offering in August of
2018.
The increase follows the successful expansion of Argo's mining
platform announced on 6 September and completed ahead of schedule
last week.
As a result, more than 3,800 new packages have been signed up
with effect from today. The strong customer take-up has also led to
the enlarged capacity being immediately sold out, as anticipated by
the Company.
Argo will continue to add new mining capacity and offer more
choice of currencies in line with its phased growth plans, which
call for the deployment of sufficient capacity to support
approximately 30,000 packages within the first 12 months of
operations.
"We are delighted to achieve our first significant sales target
ahead of our plans and the start of meaningful revenues for the
Company", Mike Edwards, president and co-founder of Argo, said.
"The strong take-up of our service also indicates that demand of
cryptomining services remains robust despite a recent downturn in
the sector. We will continue to execute our growth strategy as
quickly as possible to meet this pent-up demand," he said.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Argo Blockchain
Neil Thapar via Tancredi +44 207
Financial Communications Advisor 887 7633
+44 (0) 7876 455323
---------------------
Mirabaud
---------------------
Sole Bookrunner and Corporate
Broker
Peter Krens +44 203 167 7221
---------------------
Tancredi Intelligent Communication
Media Relations
---------------------
Salamander Davoudi
salamander@tancredigroup.com +44 7957 549 906
Georgia Hanias
Georgia@tancredigroup.com +44 7812 211 403
---------------------
Notes to Editors:
About Us:
Argo Blockchain plc is a global data centre management business
that provides a low-cost, flexible and user-friendly platform for
the mining of leading cryptocurrencies. Our cloud-based Mining as a
Service (MaaS) platform is available at scale on a monthly
subscription. Our platform provides consumers without significant
computing expertise or complex and expensive hardware with the
opportunity to mine Bitcoin Gold, Ethereum, Ethereum Classic,
Zcash, Horizen and Komodo. Argo is headquartered in London, UK and
operates state-of-the art data centres in Quebec, Canada. The
Company's shares are listed on the main market of London Stock
Exchange under the ticker: ARB.
This information is provided by RNS, the news service of the
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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.
END
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