HomeBlockchainMay Operational Update, TVR, and New Shares Announced by Argo Blockchain PLC

May Operational Update, TVR, and New Shares Announced by Argo Blockchain PLC

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Argo Blockchain plc Provides Operational Update for May 2024

Argo Blockchain plc, a leading global cryptocurrency mining company, has released its operational update for May 2024, showcasing its mining activities and financial performance during the month.

In May, the company mined 45 Bitcoin or Bitcoin Equivalents, equivalent to 1.5 BTC per day. This represents a 55% decrease in BTC mined compared to April 2024, primarily due to the reduced hashprice resulting from the Bitcoin halving. Despite this decrease, Argo Blockchain generated mining revenue of $2.9 million in May, with mining margins of approximately 30%.

Additionally, Argo Blockchain issued 626,883 new ordinary shares as part of its Equity Incentive Plan, further expanding its share capital. The company’s total voting rights as of May 31, 2024, consist of 578,397,673 ordinary shares, all with equal voting rights and no shares held in Treasury.

Argo Blockchain, listed on both the London Stock Exchange and NASDAQ, is known for its sustainable cryptocurrency mining operations powered by renewable energy. The company’s commitment to environmental responsibility has positioned it as a leader in the industry, becoming the first climate positive cryptocurrency mining company and a signatory to the Crypto Climate Accord.

For more information on Argo Blockchain and its operations, visit www.argoblockchain.com.

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