Argo Blockchain Plc 6-K, filed Apr 4, 2023
Argo Blockchain Plc (ARBK)
6-K
2023-04-04
For: 2023-04-04
View Original
Added on
April 05, 2026
About this 6-K
Argo Blockchain Plc filed this 6-K on April 4, 2023.
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, 2023
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
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Exhibit
No.
1
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Description
Appointment
of CFO & March Operational Update dated 04 April
2023
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Press Release
4 April 2023
Argo Blockchain plc
("Argo" or "the Company")
Appointment of Chief Financial Officer & March Operational
Update
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK), is pleased to announce the appointment of Jim
MacCallum as Chief Financial Officer. He will start in the position
on 5 April 2023. Mr. MacCallum is not a statutory director of the
Company.
Mr. MacCallum is a Certified Public Accountant and a Chartered
Financial Analyst, bringing over thirty years of experience across
various roles in finance and accounting. He currently serves as
Chief Financial Officer of East Side Games Group Inc (XTSE: EAGR),
a publicly-traded mobile game platform technology company based in
Canada. Previously, he was Senior Vice President, Finance and
Acting CFO at Westport Fuel Systems Inc (NASDAQ: WPRT; XTSE: WPRT),
a dual-listed and publicly-traded clean transportation technology
company. He also held senior roles at Amica Mature Lifestyles,
Absolute Software and Cisco Systems. Mr. MacCallum articled with
KPMG and completed the Advanced Management Program at Harvard
Business School.
Upon his appointment, Mr. MacCallum said: "I am delighted to be
joining Argo Blockchain, a dynamic and innovative company with a
rich history and exciting future. I look forward to contributing to
the success of the Company through a strong focus on financial
discipline."
Matthew Shaw, Chairman of the Board, said: "I'm thrilled to welcome
Jim to the Argo team as CFO. His broad experience across multiple
industries and strategic mindset will help guide the Company
through its next phase of growth."
Argo's Interim CEO, Seif El-Bakly, said, "With over 30 years of
experience, Jim brings a wealth of finance and accounting knowledge
to Argo, and I am excited for him to drive our financial discipline
as we seek to deliver long-term value to our
shareholders."
March Operational Update
During the month of March, Argo mined 161 Bitcoin or Bitcoin
Equivalents (together, BTC), or 5.2 BTC per day. This is a decrease
of 10% over the 5.7 BTC per day produced in February 2023. The
primary driver of the decrease in daily BTC production was the
increase in network difficulty. In March, the average network
difficulty was 11% higher than in February.
As of 31 March 2023, the Company held 85 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 March amounted to $4.05 million
[£3.28 million] (February 2023 $3.76 million [£3.09
million]).
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 Registration Statement on Form F-1.
For further information please contact:
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Argo Blockchain
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Investor Relations
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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:
04 April, 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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