REG - Argo Blockchain PLC - Argo April Operational Update

Argo BlockchainAnnouncement

03/05/2024 07:00

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RNS Number : 0844N  Argo Blockchain PLC  03 May 2024

Press Release

3 May 2024

Argo Blockchain plc

("Argo" or "the Company")

April Operational Update

Grant of Equity Awards

Argo Blockchain plc (LSE: ARB; Nasdaq: ARBK), a global leader in
cryptocurrency mining, is pleased to provide the following operational update
for April 2024.

During the month of April, the Company mined 99 Bitcoin, or 3.3 Bitcoin per
day (March 2024 - 103 Bitcoin). Daily Bitcoin production in April remained the
same as the prior month despite the Bitcoin halving occurring on 19 April
2024. This is primarily due to a temporary but significant spike in
transaction fees in the days immediately following the halving.

Mining revenue in April 2024 amounted to $6.6 million, a decrease of 6%
compared to the prior month (March 2024: $7.0 million).

As of 30 April 2024, the Company held digital assets worth the equivalent of
12 Bitcoin.

Grant of Equity Awards

On 9 March 2024, the Company granted 7,372,184 Restricted Stock Units ("RSUs")
to certain employees in accordance with the 2022 Equity Incentive Plan
approved by shareholders at the Company's 2022 Annual General Meeting. The
RSUs vest over a three-year period, with first vesting occurring six months
from the date of grant (at which point 6/36ths vest) and, thereafter, the RSUs
vest at a rate of 3/36th per quarter for the remainder of the vesting
period subject to the continued employment of the grantee.

On 9 March 2024, the Company also granted 172,867 Performance Stock Units
("PSUs") to certain employees in accordance with the 2022 Equity Incentive
Plan approved by shareholders at the Company's 2022 Annual General Meeting.
The PSUs vest over a three-year period, with first vesting occurring six
months from the date of grant (at which point 6/36ths vest) and, thereafter,
the PSUs vest at a rate of 3/36th per quarter for the remainder of the
vesting period subject to the continued employment of the grantee and
satisfaction of the corresponding performance conditions.

This announcement contains inside information.

For further information please contact:

 Argo Blockchain
 Investor Relations                  ir@argoblockchain.com (mailto:ir@argoblockchain.com)
 Tennyson Securities
 Corporate Broker                    +44 207 186 9030

 Peter Krens
 Fortified Securities
 Joint Broker                        +44 74930989014

 Guy Wheatley, CFA                   guy.wheatley@fortifiedsecurities.com
                                     (mailto:guy.wheatley@fortifiedsecurities.com)
 Tancredi Intelligent Communication   argoblock@tancredigroup.com (mailto:argoblock@tancredigroup.com)

 UK & Europe Media Relations

 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 (http://www.argoblockchain.com/) .

 

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