Purchase of Two Data Centres

RNS Number : 4584Y

Argo Blockchain PLC

13 May 2021

 

Press Release

13 May 2021

Argo Blockchain PLC

('Argo' or 'the Company')

Purchase of Two Data Centres  

Argo Blockchain (LSE:ARB), a global leader in cryptocurrency mining, is pleased to announce that, further to the share purchase agreement with GPU.one announced on 3 February 2021, it has completed the acquisition of the two data centres in Quebec, Canada. The acquisition is part of the Company's strategy to increase control over the mining facilities in which its machines are hosted, with a view to providing the Company with long term stability.

The data centres have a combined total of 20MW of power capacity and currently house a significant proportion of Argo's cryptocurrency mining equipment. The data centres are powered almost entirely by electricity generated from hydro power, which is a key part of the Company's green mining vision.

The consideration for the acquisition was mainly non-cash consisting of the assumption of existing bank obligations related to these facilities and the application of a previously paid deposit.

Peter Wall, Chief Executive of Argo, said: " Argo's purchase of data centres in Canada represents another milestone for the Company as we seek to take greater control over our mining production and mining cost base, while also laying solid foundations for long-term growth."

This announcement contains inside information.

For further information please contact:

Argo Blockchain
Peter Wall Chief Executive Ian MacLeod Executive Chairman	via Tancredi [phone]
finnCap Ltd
Corporate Finance Jonny Franklin-Adams Tim Harper  Joint Corporate Broker Sunila de Silva	[phone]
Tennyson Securities
Joint Corporate Broker Peter Krens	[phone]
OTC Markets
Jonathan Dickson [e-mail]	[phone] [phone]
Tancredi Intelligent Communication UK & Europe Media Relations
Emma Valgimigli Emma Hodges Salamander Davoudi [e-mail]	[phone] [phone] [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 and on the OTCQX Best Market in the United States under the ticker: ARBKF.

argoblockchain.com

 

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