1,058 mining machines shipped early

RNS Number : 2057L

Argo Blockchain PLC

11 January 2021

 

 PRESS RELEASE

11 January 2021

Argo Blockchain PLC

('Argo' or 'the Company')

1,058 mining machines shipped early

Argo (LSE: ARB), the leading cryptocurrency miner based in the UK, is pleased to announce that 1,058 S19 and S19 pro miners from the company's order of 4,500 leased mining machines, made in November 2020, will be delivered ahead of schedule. These machines will be fully installed and hashing by the week of January 25th, three weeks early. These units will add 103 petahash to the company's current SHA-256 mining capacity of 645 petahash, bringing the total to 748 petahash before the end of January.

The remaining 3,442 machines in the order are expected to be delivered on time, and to be fully operational by mid-February 2021. 

Peter Wall, Chief Executive of Argo, said: "This is great news. At a time when our mining margins for the first 10 days of January are well over 70%, having these new, efficient machines up and running early will increase our monthly revenues and help to continue to achieve these excellent margins. 2021 is off to a great start."

 For further information please contact:

Argo Blockchain
Peter Wall,  Chief Executive Ian MacLeod,  Executive Chairman	via Tancredi Tel: [phone]
Corporate Broker - finnCap Ltd
Jonny Franklin-Adams / Kate Washington  (Corporate Finance) Sunila de Silva   (Corporate Broking)	Tel: [phone]
OTC Markets
Jonathan Dickson [e-mail]	Tel: [phone] Tel: [phone]
Media Relations - Tancredi Intelligent Communications
Salamander Davoudi [e-mail] Emma Valgimigli [e-mail]	Tel: [phone] Tel: [phone]

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

 

END

 

 

UPDFIFSFLSILLIL