REG - Argo Blockchain PLC - Hosting Update

Argo BlockchainAnnouncement

20/03/2025 07:15

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RNS Number : 4055B  Argo Blockchain PLC  20 March 2025

Press Release

20 March 2025

Argo Blockchain plc

("Argo" or "the Company")

 

Hosting Update

Argo Blockchain plc (LSE: ARB; NASDAQ: ARBK) is pleased to announce the
following hosting and miner updates:

·      The Company has amended its hosting arrangement with Merkle
Standard LLC ("Merkle") to host a total of 9,315 S19J Pro miners at Merkle's
Memphis, Tennessee location, up from the initial 8,113 reported in February
2025.

·      A further 4,000 S19J Pro miners will be hosted at Merkle's
Washington State location.

·      The Company has reached an agreement to sell 2,000 S19J Pro
miners for cash proceeds of approximately $550,000.

·      As previously disclosed, an additional 2,500 S19J Pro miners will
be installed at Argo's Baie Comeau, Quebec facility where the Company
currently has available capacity.

By the end of April 2025, after these deployments, the Company expects 69% of
the approximately 23,000 miners previously hosted at Helios to be operational.
After the sale of 2,000 units, the Company will have approximately 5,000 SJ19
Pro's remaining. The Company will look to either sell or rehost these based on
market conditions.

This announcement contains inside information.

For further information please contact:

 Argo Blockchain
 Investor Relations                  ir@argoblockchain.com (mailto:ir@argoblockchain.com)
 Tennyson Securities
 Corporate Broker                    +44 207 186 9030

 Peter Krens
 Fortified Securities
 Joint Broker                        +44 7493 989014

 Guy Wheatley, CFA                   guy.wheatley@fortifiedsecurities.com
 Tancredi Intelligent Communication   argoblock@tancredigroup.com

 UK & Europe Media Relations

 

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain
technology company focused on large-scale cryptocurrency mining. With a mining
facility in Quebec and offices in the US, Canada, and the UK, Argo's global,
sustainable operations are predominantly powered by renewable energy. In 2021,
Argo became the first climate positive cryptocurrency mining company, and a
signatory to the Crypto Climate Accord. For more information, visit
(http://www.argoblockchain.com/) www.argoblockchain.com
(http://www.argoblockchain.com/) .

Forward looking statements

This announcement contains "forward-looking statements," which can be
identified by words like "may," "will," "likely," "should," "expect,"
"anticipate," "future," "plan," "believe," "intend," "goal," "seek,"
"estimate," "project," "continue" and similar expressions. Forward-looking
statements are neither historical facts nor assurances of future performance.
Instead, they are based only on the Company's current beliefs, expectations
and assumptions regarding the future of its business, future plans and
strategies, projections, anticipated events and trends, the economy and other
future conditions. Because forward-looking statements relate to the future,
they are subject to inherent uncertainties, risks and changes in circumstances
that are difficult to predict and many of which are outside of the Company's
control. The information in this announcement about future plans and
objectives of the Company, including the expectation to have 69% of the
approximately 23,000 miners previously hosted at Helios to be operational, and
the anticipated closing of the sale of 2,000 S19J Pro miners, are
forward-looking statements. Therefore, you should not rely on any of these
forward-looking statements. Important factors that could cause the Company's
actual results and financial condition to differ materially from those
indicated in the forward-looking statements include, market and other
conditions, the principal risks and uncertainties listed in the risk factors
set forth in our Annual Report and Financial Statements and Form 20-F for the
year ended 31 December 2023, and our Interim Report as of 30 September 2024.

 

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