Argo Blockchain Plc 6-K, filed Sep 8, 2023
Argo Blockchain Plc (ARBK)
6-K
2023-09-08
For: 2023-09-08
View Original
Added on
April 05, 2026
About this 6-K
Argo Blockchain Plc filed this 6-K on September 8, 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 September, 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
August
Operational Update dated 8 September 2023
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Press Release
8 September 2023
Argo Blockchain plc
("Argo" or "the Company")
August Operational Update
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK), is pleased to provide the following operational
update for August 2023.
During the month of August, the Company mined 105 Bitcoin or
Bitcoin Equivalents (together, "BTC"), or 3.4 BTC per day. The
reduction in BTC mined from July 2023 (4.6 BTC per day) is
primarily due to economic curtailment at Helios, which generated
significant power credits that the Company expects will more than
offset the foregone revenue from the curtailment. Preliminary
estimates for power credits accrued in August 2023 indicate that
the Company realized negative power costs for its Helios
operations.
As
of 31 August 2023, the Company held 49 BTC.
During the month of August, the Company installed
and energized 900 BlockMiner machines, representing approximately
95 PH/s, at its Quebec facilities. This brings the Company's total
hashrate capacity to approximately 2.7 EH/s. The
Company expects to receive and deploy the remaining 728 BlockMiners
in the coming months.
Participation in Upcoming Investor Conference
Members
of the Company's management team will participate in the upcoming
H.C. Wainwright Global Investment Conference in New York City on
Monday, 11 September 2023.
Grant of Equity Awards
On 6 September 2023, the Company granted 2,071,076
RSUs in aggregate to new employees hired since 1 April 2023. The
RSUs vest over a three-year period, with first vesting occurring
six months from the effective date of the grants (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. The RSUs were granted pursuant
to the Company's 2022 Equity Incentive Plan approved by
shareholders at the 2022 Annual General
Meeting.
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
Management Commentary
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:
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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
7493 989014
guy.wheatley@fortifiedsecurities.com
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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. 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.
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Date: 8
September, 2023
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ARGO BLOCKCHAIN PLC
By:
/s/ Jim
MacCallum
Name:
Jim MacCallum
Title:
Chief Financial Officer
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