Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
October 05 2023 - 7:33AM
Edgar (US Regulatory)
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 October, 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
September
Operational Update dated 5 October 2023
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Press Release
5 October 2023
Argo Blockchain plc
("Argo" or "the Company")
September Operational Update
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK), is pleased to provide the following operational
update for September 2023.
During the month of September, the Company mined 136 Bitcoin or
Bitcoin Equivalents (together, "BTC"), or 4.5 BTC per day, and
accrued significant power credits from economic curtailment. The
power credits reduce the Company's electricity costs, improve its
mining margin, and increase its cash flow. The 34% increase in BTC
mined compared to August 2023 (3.4 BTC per day) is primarily due to
fewer hours of curtailment at Helios in September. This increase in
Bitcoin production was partially offset by a 4% increase in average
network difficulty in September 2023 relative to August
2023.
Mining revenue in September 2023 amounted to $3.59 million, an
increase of 23% compared to the prior month (August 2023: $2.93
million).
As of 30 September 2023, the Company held 32 BTC. The drop in BTC
from 49 at the end of August 2023 is primarily due the periodic
revaluation of the Company's non-Bitcoin digital asset
holdings.
During the month of September, the Company completed the deployment
of its BlockMiner machines. The BlockMiner fleet represents
approximately 0.3 EH/s of hashrate capacity deployed at the
Company's Quebec facilities, and the Company's total hashrate
capacity is now approximately 2.8 EH/s.
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
Helen
Humphrey
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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: 5
October, 2023
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ARGO BLOCKCHAIN PLC
By:
/s/ Jim
MacCallum
Name:
Jim MacCallum
Title:
Chief Financial Officer
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Argo Blockchain (PK) (USOTC:ARBKF)
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