TIDMARB

RNS Number : 8245B

Argo Blockchain PLC

04 February 2020

Press Release

4 February 2020

Argo Blockchain PLC

('Argo' or 'The Company')

January 2020 Operational Update

Argo, the leading cryptocurrency miner based in the UK (LSE:ARB), is pleased to provide the following operational update for January 2020.

The Company mined 247 Bitcoins (BTC), and generated revenues of GBP1.63m (based on daily foreign exchange rates and BTC price) in January 2020. Mining in January was more efficient than the previous month despite increasing algorithmic difficulty. Argo considers its operations to be one of the most efficient in the market.

As previously announced, the Company is ahead of schedule to achieve its goal to bring 17,000 machines into production by the end of Q1 2020. It now has 16,500 machines in production representing 630 petahash of mining power.

This infrastructure investment was funded from cash generated from operations and cash balances.

Peter Wall, chief executive of Argo, said: "We have made a strong start to the year and these results reflect Argo's position as one of the most efficient crypto miners in the market. Having successfully executed this significant capital investment programme ahead of schedule and on budget, we are in a great position to benefit from improving industry conditions."

This announcement contains inside information.

For further information please contact:

 
 Argo Blockchain 
 Peter Wall                       via Tancredi +44 203 434 
  Chief Executive                  2334 
  Neil Thapar 
  Financial Communications 
  Adviser                          +44 7876 455323 
                                 ------------------------- 
 Mirabaud 
                                 ------------------------- 
 Corporate Broker 
  Peter Krens                     +44 203 167 7221 
                                 ------------------------- 
 Tancredi Communication 
  Media Relations 
                                 ------------------------- 
 Salamander Davoudi               +44 7957 549 906 
  salamander@tancredigroup.com 
  Emma Valgimigli 
  emma@tancredigroup.com           +44 7727 180 873 
                                 -------------------------

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.

argoblockchain.com

See Argo's largest facility in Quebec:

https://youtu.be/LDWWaZ75Zbk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct 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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