London, England
Joined November 2017
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Argo Blockchain is excited to announce the appointment of Justin Nolan as Chief Executive Officer and Director.
Justin was previously CEO of Arkon Energy, a digital infrastructure company. Prior to this, he served as Chief Growth Officer at Argo and was instrumental in the initial development of the Helios project.
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Argo is pleased to announce the following hosting and miner updates.
🔸Argo has amended its arrangement with Merkle Standard LLC to host a total of 9,315 S19J Pro miners at their Memphis, Tennessee location, and a further 4,000 S19J Pro miners at Merkle’s Washington State location.
🔸 An agreement has been reached to sell 2,000 S19J Pro miners for cash proceeds of approximately $550,000.
🔸 Argo expects approx. 69% of the miners hosted at Helios to be operational by the end of April.
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Argo is pleased to announce that it entered into a non-binding term sheet for up to $40 million in senior secured convertible loans on 25 February 2025.
🔸 The initial tranche of the financing would be $15 million with follow-on tranches of up to $25 million over the next 18 months.
🔸 The proceeds of this financing are to be used to refresh Argo’s Baie Comeau mining fleet, to strengthen the balance sheet, and to assess a pipeline of merger and acquisition possibilities.
🔸 This will be non-amortizing, will carry an interest rate of approximately 8% and will have a conversion premium of 25% to the closing price of Argo’s shares the day before the definitive documents are signed.
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Argo is pleased to announce that it has amended the hosting arrangement with Merkle Standard LLC.
🔸 A total of 8,113 S19J Pro miners will now be hosted at Merkle’s Memphis, Tennessee location, from February and March for a minimum one-year term.
🔸 As stated before, another 2,500 S19J Pro miners will be hosted at our Baie Comeau facility.
🔸 Argo expects approx. 46% of the miners hosted at Helios to be operational by the end of March.
Full RNS: bit.ly/4bvU7mE
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Argo is pleased to announce that it has entered into a hosting arrangement with Merkle Standard LLC.
🔸 5,293 S19J Pro miners will be hosted at Merkle’s Memphis, Tennessee location,from February and for a minimum one-year term
🔸 An additional 2,500 S19J Pro miners will be hosted at our Baie Comeau facility
🔸 By the end of February, Argo expects approx. one third of the miners hosted at Helios to be operational
Full RNS: bit.ly/4bvU7mE
Our December operational update is out:
🔸Mined 39 Bitcoin in December.
🔸Daily production was 1.3 Bitcoin per day consistent with November.
🔸Mining revenue of $3.9 million, an increase from $3.4 million in November.
🔸We are currently evaluating alternative site options to rehost the 23,619 S19J Pros from the Galaxy facility.
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Our November operational update is out:
🔸Mined 39 Bitcoin in November
🔸Daily production was 1.3 Bitcoin per day
🔸Mining revenue of $3.4 million, an increase from $3.0 million in October
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Argo’s Q3 2024 results are out!
🔸 Generated a revenue of $7.5 million
🔸 Mining margin percentage of 8%
🔸 Fully repaid the Galaxy loan in August 2024
🔸 Class action lawsuit filed in January 2023 dismissed in October 2024
Post quarter updates include:
🔸A non-binding LOI with BE Global Development Limited to explore a significant HPC expansion at our Baie-Comeau facility.
🔸 The Galaxy hosting agreement at Helios comes to an end in December 2024.
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☎ Q3 2024 Earnings Call
CEO Thomas Chippas and CFO Jim MacCallum will be holding a webcast to discuss Q3 results and answer questions at 10:00 ET / 15:00 GMT on November 20, 2024.
The webcast is open to all current and potential investors.
Please register at: investormeetcompany.com/argo…
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Argo Blockchain provides the following company updates.
• Baie-Comeau facility HPC expansion LOI
• Helios facility
Read the full RNS here: argoblockchain.com/investors…
Our October operational update is out:
🔸Mined 46 Bitcoin in October
🔸Daily production was 1.5 Bitcoin per day, a 24% increase from September
🔸 Mining revenue of $3.0 million, up 36% from September
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Our September operational update is out:
🔸Mined 37 Bitcoin in September
🔸Daily production was 1.2 Bitcoin per day, consistent with August
🔸 Mining revenue of $2.2m
🔸Mining margin for 3rd quarter was below 10%
Full RNS: bit.ly/4bvU7mE
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Our August operational update is out:
🔶Mined 38 Bitcoin in August
🔶Mining margins below 10%
🔶Daily production at 1.2 Bitcoin per day
🔶Mining Revenue of $2.3m
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☎ Interim Results 2024 - Earnings Call
Argo’s management team will participate in a webcast to discuss the half year results and answer questions at 10:00 ET / 15:00 BST.
The webcast is open to all current and potential investors.
Please register at: investormeetcompany.com/argo…
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Argo’s interim results for 2024 are out!
Highlights:
🔶Generated revenues of $29.3 million for H1 2024 compared to $24.0 million for H1 2023, an 18% increase
🔶 Mining margin of $11.5 million or 39% for H1 2024
🔶 Fully repaid the Galaxy loan in August 2024
🔶Ended the quarter with $4.0 million of cash
🔶Completed an $8.3 million equity raise in July 2024
Full RNS: bit.ly/4bvU7mE
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☎Q2 2024 Earnings Call
CEO Thomas Chippas and CFO Jim MacCallum will be holding a webcast to discuss Q2 results and answer questions at 10:00 ET / 15:00 BST on August 28, 2024.
The webcast is open to all current and potential investors.
Please register at: investormeetcompany.com/argo…
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New RNS: Argo has fully repaid its $35 million loan from Galaxy Digital Holdings ahead of schedule.
The repayment was achieved using cash flow from operations, equity raises, and non-core asset sales, with no significant impact on Argo’s hash rate. This move reflects our focus on strengthening our balance sheet and reducing financial liabilities.
Full RNS: bit.ly/4bvU7mE
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Our July operational update is out:
Mined 48 Bitcoin in July
Mining margins in the mid 20% range
Daily production consistent at 1.5 Bitcoin per day
Revenue of $3m, in line with June
Full RNS: bit.ly/4bvU7mE
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New RNS: Argo has secured £6.5m in a private placement deal that includes issuance of 57,800,000 ordinary shares at £0.1125 each, plus warrants to purchase up to 57,800,000 additional shares.
Net proceeds to be used for debt reduction and growth projects.
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