a4139j
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 6-K
_____________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of April, 2024
Commission File Number: 001-40816
_____________________
Argo Blockchain plc
(Translation of registrant’s name into English)
_____________________
Eastcastle House
27/28 Eastcastle Street
London W1W 8DH
England
(Address of principal executive office)
_____________________
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F
☒
Form
40-F ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): ☐
EXHIBIT INDEX
Exhibit
No.
1
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Description
March
Operational Update dated 5 April 2024
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Press Release
5 April 2024
Argo Blockchain plc
("Argo" or "the Company")
March Operational Update
Argo Blockchain plc (LSE: ARB; Nasdaq: ARBK), a global leader in
cryptocurrency mining, is pleased to provide the following
operational update for March 2024.
During the month of March, the Company mined 103 Bitcoin, or 3.3
Bitcoin per day. This is a 5% increase in daily Bitcoin production
compared to the prior month, despite a 4% higher average network
difficulty in March 2024.
In March 2024, the Company sold its Mirabel facility and relocated
its mining machines from Mirabel to its facility in Baie Comeau,
Quebec. The relocated miners were deployed and actively hashing at
Baie Comeau before the end of March, and the relocation had minimal
impact on monthly Bitcoin production. .
Mining revenue in March 2024 amounted to $7.0 million, an increase
of 55% compared to the prior month (February 2024: $4.5
million).
As of 31 March 2024, the Company held digital assets worth the
equivalent of 26 Bitcoin.
Argo CEO Thomas Chippas said, "I'm pleased by the increase in daily
Bitcoin production we achieved in March, despite an increase to
average network difficulty and the limited downtime from relocating
our miners to Baie Comeau following the sale of our Mirabel
facility. As we approach the halving, we continue to focus on
streamlining our operations and running as efficiently as
possible."
Inside Information and Forward-Looking Statements
This announcement contains inside information and includes
forward-looking statements which reflect the Company's current
views, interpretations, beliefs or expectations with respect to the
Company's financial performance, business strategy and plans and
objectives of management for future operations. These statements
include forward-looking statements both with respect to the Company
and the sector and industry in which the Company operates.
Statements which include the words "remains confident", "expects",
"intends", "plans", "believes", "projects", "anticipates", "will",
"targets", "aims", "may", "would", "could", "continue", "estimate",
"future", "opportunity", "potential" or, in each case, their
negatives, and similar statements of a future or forward-looking
nature identify forward-looking statements. All forward-looking
statements address matters that involve risks and uncertainties
because they relate to events that may or may not occur in the
future, including the risk that the Company may receive the
benefits contemplated by its transactions with Galaxy, the Company
may be unable to secure sufficient additional financing to meet its
operating needs, and the Company may not generate sufficient
working capital to fund its operations for the next twelve months
as contemplated. Forward-looking statements are not guarantees of
future performance. Accordingly, there are or will be important
factors that could cause the Company's actual results, prospects
and performance to differ materially from those indicated in these
statements. In addition, even if the Company's actual results,
prospects and performance are consistent with the forward-looking
statements contained in this document, those results may not be
indicative of results in subsequent periods. These forward-looking
statements speak only as of the date of this announcement. Subject
to any obligations under the Prospectus Regulation Rules, the
Market Abuse Regulation, the Listing Rules and the Disclosure and
Transparency Rules and except as required by the FCA,
the London Stock Exchange, the City Code or applicable law and
regulations, the Company undertakes no obligation publicly to
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise. For a more
complete discussion of factors that could cause our actual results
to differ from those described in this announcement, please refer
to the filings that Company makes from time to time with
the United States Securities and Exchange Commission and
the United Kingdom Financial Conduct Authority, including the
section entitled "Risk Factors" in the Company's Annual Report on
Form 20-F.
For further information please contact:
Argo Blockchain
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Investor Relations
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ir@argoblockchain.com
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Tennyson Securities
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Corporate
Broker
Peter Krens
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+44 207 186 9030
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Fortified Securities
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Joint
Broker
Guy Wheatley, CFA
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+44 74930989014
guy.wheatley@fortifiedsecurities.com
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Tancredi Intelligent Communication
UK &
Europe Media Relations
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argoblock@tancredigroup.com
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About
Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK)
blockchain technology company focused on large-scale cryptocurrency
mining. With mining operations in Quebec and Texas, and
offices in the US, Canada, and the UK, Argo's global,
sustainable operations are predominantly powered by renewable
energy. In 2021, Argo became the first climate positive
cryptocurrency mining company, and a signatory to the Crypto
Climate Accord. For more information, visit www.argoblockchain.com.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant
has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Date: 5
April, 2024
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ARGO BLOCKCHAIN PLC
By:
/s/ Jim
MacCallum
Name:
Jim MacCallum
Title:
Chief Financial Officer
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