Argo Blockchain Plc 6-K, filed Feb 8, 2023
Argo Blockchain Plc (ARBK)
6-K
2023-02-08
For: 2023-02-08
View Original
Added on
April 05, 2026
About this 6-K
Argo Blockchain Plc filed this 6-K on February 8, 2023.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 6-K
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REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February, 2023
Commission File Number: 001-40816
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Argo Blockchain plc
(Translation of registrant’s name into English)
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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.
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
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Exhibit
No.
1
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Description
January
Operational Update dated 08 February 2023
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Press Release
8 February 2023
Argo Blockchain plc
("Argo"
or "the Company")
January Operational Update
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK), is pleased to provide the following operational
update for January 2023.
During the month of January, Argo mined 168 Bitcoin or Bitcoin
Equivalents (together, BTC), which is an increase of 14% compared
to 147 BTC mined in December 2022. The increase in BTC mined was
primarily due to fewer curtailment hours in January compared to
December, when a severe winter storm impacted much of the United
States. This was partially offset by higher network difficulty,
which on average, was 3% higher in January than in the prior
month.
As of 31 January 2023, the Company held 115 Bitcoin or Bitcoin
Equivalents.
The Company's total hashrate capacity continues to be 2.5
EH/s.
Based on daily foreign exchange rates and cryptocurrency prices
during the month, mining revenue in January amounted to $3.42
million [£2.80 million*] (December 2022 $2.49 million
[£2.07 million*].
The Company continues to work closely with Galaxy Digital Holdings,
Ltd. (TSX: GLXY) as they take over operations at Helios. Due to the
change in ownership of Helios, Argo will no longer disclose mining
profit on a monthly basis; it will no longer include the non-IFRS
reconciliation table in its monthly operational updates. The
Company will continue to provide these figures on a quarterly basis
and in its financial statements.
Class Action Lawsuit
The Company also wishes to address the class action lawsuit that
has been filed against the Company. The case, Murphy vs Argo
Blockchain plc et al, was filed in the Eastern District of New York
on 26 January 2023. Argo has engaged McDermott, Will, and Emery,
LLP as its defence counsel. The Company refutes all of the
allegations and believes that this class action lawsuit is without
merit. Argo will vigorously defend itself against the
action.
Inside Information and Forward-Looking Statements
This announcement contains inside information and includes
forward-looking statements which reflect the Company's or, as
appropriate, the Directors' 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 Registration Statement on Form F-1.
For further information please contact:
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Argo Blockchain
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Peter Wall
Chief
Executive
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ir@argoblockchain.com
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finnCap Ltd
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Corporate
Finance
Jonny Franklin-Adams
Seamus Fricker
Joint
Corporate Broker
Sunila de Silva
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+44 207 220 0500
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Tennyson Securities
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Joint
Corporate Broker
Peter Krens
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+44 207 186 9030
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Tancredi Intelligent Communication
UK
& Europe Media Relations
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Salamander Davoudi
Emma Valgimigli
Fabio Galloni-Roversi Monaco
Nasser Al-Sayed
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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 facilities in Quebec, mining operations in
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. Argo also participates in several Web 3.0, DeFi and
GameFi projects through its Argo Labs division, further
contributing to its business operations, as well as the development
of the cryptocurrency markets. For more information,
visit www.argoblockchain.com.
SIGNATURES
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Date:
08 February, 2023
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ARGO BLOCKCHAIN PLC
By:
Name:
Peter Wall
Title:
Chief Executive Officer
Name:
David Zapffe
Title:
General Counsel
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