- Title:
March and Q1 Operational Update - Time:
07:00:11 - Date:
7 Apr 2021 - Category:
Corporate updates - ID:
5923U
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 £6.57 million (February 2021: £4.34 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 £13.4 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 Chief Executive Ian MacLeod Executive Chairman |
via Tancredi +44 203 434 2334
|
| finnCap Ltd |
|
| Corporate Finance Jonny Franklin-Adams Tim Harper
Corporate Broking
Sunila de Silva |
+44 207 220 0500
|
| OTC Markets |
|
| Jonathan Dickson
|
+44 204 526 4581
+44 7731 815 896 |
| Tancredi Intelligent Communication UK & Europe Media Relations |
|
| Salamander Davoudi Emma Valgimigli |
+44 7957 549 906
+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 and on the OTCQX Best Market in the United States under the ticker: ARBKF.
March and Q1 Operational Update 07:00:117 Apr 2021Corporate updates5923U