Argo Blockchain PLC, a global leader in cryptocurrency mining, has released its operational update for May 2024. The company mined 45 Bitcoin or Bitcoin Equivalents (BTC) during the month, representing a decrease of 55% compared to April 2024. This reduction is attributed to the decreased hashprice resulting from the Bitcoin halving. Despite this, the company achieved mining revenue of $2.9 million in May, with mining margins of approximately 30%.
In addition to the operational update, Argo Blockchain PLC has issued 626,883 new ordinary shares pursuant to previously granted Restricted Share Units under the 2022 Equity Incentive Plan. These new shares rank pari passu with the existing ordinary shares and are set to be admitted to the Official List and trading on the Main Market of the London Stock Exchange PLC.
As of 31 May 2024, the company's share capital consists of 578,397,673 ordinary shares, all with equal voting rights and none held in Treasury. This figure will be used by shareholders to determine whether they are required to notify their interest in the company under the FCA Disclosure Guidance and Transparency Rules.
For further information, investors can contact Argo Blockchain's Investor Relations or its corporate and joint brokers. This announcement contains inside information.