Argo Blockchain PLC March and Q1 Operational Update (5923U)
April 07 2021 - 1:00AM
UK Regulatory
TIDMARB
RNS Number : 5923U
Argo Blockchain PLC
07 April 2021
Press Release
07 April 2021
Argo Blockchain PLC
('Argo' or 'the Company')
March and Q1 Operational Update
Argo Blockchain, a global leader in cryptocurrency mining (LSE:
ARB), is pleased to provide the following operational update for
March.
During the month of March, Argo mined 165 Bitcoin or Bitcoin
Equivalent (together, "BTC") compared to 129 BTC in February. This
takes the total amount of BTC mined in Q1 to 387 BTC.
Based on daily foreign exchange rates and cryptocurrency prices
during the month, mining revenue in March amounted to GBP6.57
million (February 2021: GBP4.34 million). Argo generated this
income at an average monthly mining margin of approximately 84% for
the month of March (February 2021: 81%). This takes Argo's mining
revenues to GBP13.4 million for the first quarter of 2021, the
Company's most profitable quarter to date. This income has been
generated at an average mining margin of approximately 80% for Q1
2021.
At the end of March, the company held 764 BTC.
Peter Wall, Chief Executive of Argo said: "I'm delighted that
Argo has generated record mining revenue and profits for the third
month in a row, making this quarter Argo's best performing since
the Company's inception. These numbers are incredible, and they
highlight our continued commitment to smart growth, efficiency, and
delivering meaningful value to our shareholders. I am also thrilled
that we are working with DMG to achieve something we believe will
be truly transformational in the crypto space in the creation of
Terra Pool, the first Bitcoin mining pool that will be powered by
clean energy."
For further information please visit www.argoblockchain.com or
contact:
Argo Blockchain
Peter Wall via Tancredi +44 203 434 2334
Chief Executive
Ian MacLeod
Executive Chairman
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finnCap Ltd
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Corporate Finance
Jonny Franklin-Adams
Tim Harper
Corporate Broking
Sunila de Silva +44 207 220 0500
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OTC Markets
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+44 204 526 4581
Jonathan Dickson
jonathan@otcmarkets.com +44 7731 815 896
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Tancredi Intelligent Communication
UK & Europe Media Relations
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Salamander Davoudi
salamander@tancredigroup.com +44 7957 549 906
Emma Valgimigli
emma@tancredigroup.com +44 7727 180 873
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About Argo:
Argo Blockchain plc is a global leader in cryptocurrency mining
with one of the largest and most efficient operations powered by
clean energy. The Company is headquartered in London, UK and its
shares are listed on the Main Market of the London Stock Exchange
under the ticker: ARB and on the OTCQX Best Market in the United
States under the ticker: ARBKF.
argoblockchain.com
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