Argo Blockchain plc (ARB.L)

Argo Blockchain, the leading cryptocurrency miner based in the UK (LSE: ARB), is pleased to announce it has signed a commercial agreement with ePIC Blockchain Technologies (ePIC), a supplier of industry-leading ASIC mining machines which will allow Argo priority access to state-of-the-art ASIC mining rigs. The companies will also work together throughout the development process to build machines specifically to Argo's specifications. 
 
As part of the agreement, Argo has committed to an initial purchase of US$8 million of ePIC's mining rigs and will have priority on all future production runs of ePIC machines globally for 2021 and 2022. Expected delivery of the machines will begin in early Q4, 2021. Larger scale delivery of ePIC machines will commence in 2022. 
 
In addition, the Company will assist in the development and testing of future products and will be given an option of a first right of refusal to purchase additional production. Argo will also provide space and capacity at one of its facilities for ePIC's research and innovation engineering teams for development purposes for future machines. 
 
Based in North America, the ePIC team has a winning track record of designing and delivering industry leading semiconductors for companies such as Sony, Nintendo, AMD, ATI Technologies Inc, Microsoft, Qualcomm, and others. Their experience in high performance computing, parallel processing, and power efficiency is exceptional.  
 
Peter Wall, Chief Executive of Argo Blockchain, said: "We are really excited about this agreement and working with ePIC, one of the industry's preeminent ASIC design firms. This partnership will not only give Argo priority in accessing the most advanced mining infrastructure available, but it also highlights our reputation within the sector as an innovative and forward-thinking cryptocurrency miner. By working with a world-class supplier of ASICs at the development and R&D phase to collaboratively create machines to our own specification, it will only further our technical capabilities and efficiency in our mining operations."
 
Henry Quan, ePIC CEO, said: "ePIC is delighted to partner with Argo to establish North America as a center of excellence for Blockchain mining and decentralization of blockchain security to rival Asia. The teams at ePIC and Argo are strategically aligned in the quest to deliver innovative solutions and efficiencies only made possible through a close partnership. This vertical integration of sorts enables the lockstep delivery of advanced blockchain platforms combined with datacenter excellence."
 
Perry Hothi, Chief Technical Officer of Argo said: "This will be a game changer for Argo and ePIC. We are excited with the synergy between our teams. With the expertise of ePIC on the chip side combined with the mining capabilities of Argo, we truly believe this will enable us to be at the cutting edge of mining, from chip to data centre."

Asking for civil discussion in this thread. We’re all learning the volatility of bitcoin and mining companies. Today’s OTCQX news is one step closer to the Nasdaq listing which will offer exposure to a greater investing population, including Wall Street Bets/Robinhood crew.

Additionally it is comforting knowing the volatility we experienced the last couple days is not directly related to Argo news, but due to sentiment of the entire bitcoin community.

Michael Saylor (MicroStrategy CEO) is a blessing and you can see even the negative press Bitcoin has received from key stakeholders, institutions are not blinking an eye when adopting (I.e. Square just bought 3300 BTCs at an average price of $51k+).

We will continue to see steady progress with Argo as Bitcoin rises to $70k+ and the uplifting to Nasdaq occurs over the next couple months. Our CEO is transparent and communicates to the shareholders which shows he values us as investors. I’d expect to see Argo trading around $8-$10 by late spring/early summer with volatility along the way.

Argo Blockchain, the leading cryptocurrency miner based in the UK (LSE: ARB), is pleased to announce it has entered into a non-binding Letter of Intent (LOI) with DPN LLC of New York, setting out the terms for Argo to acquire 320 acres of land in West Texas, USA, with access of up to 800-megawatts of electrical power where Argo intends to build a new 200mw mining facility in the next 12 months. 
When completed, this facility will provide Argo with electricity at some of the lowest rates in the world with the majority from renewable sources. 
Subject to entry into a definitive agreement and the satisfaction of related conditions, the overall price of this acquisition will be US$17.5M to be satisfied by the issue and allotment to DPN LLC of new ordinary shares in Argo. On completion of the definitive agreement, US$5m worth of new ordinary shares will be issued to DPN LLC and the balance of US$12.5m will be satisfied in shares in installments as contractual milestones are fulfilled. The value of all the new ordinary shares will be based on the 3 day VWAP (Volume Weighted Average Price) up to 8 February 2021, which was 104.04 pence per share.
As part of this project, Argo will also gain access to a pre-negotiated US$100 million credit facility at competitive rates. This will provide Argo with sufficient debt capital to build out the facility and further expand its mining fleet to upscale the Company's operations and capacity.
In connection with the proposed acquisition, a circular will be sent out to shareholders shortly to convene a general meeting at which shareholders will be asked to approve the allotment and issue of (a) the new shares to be issued to DPN LLC and (b) the issue of further new shares to raise equity to fund the down payment (or deposit) on the credit facility.
Peter Wall, Chief Executive of Argo Blockchain, said: "We are incredibly excited about this proposed acquisition. It gives Argo tremendous control over its mining operations, as well as significant capacity for expansion. In addition, we have been able to secure access to some of the cheapest renewable energy worldwide in a location where innovation in new technologies is encouraged and incentivised."
XMS Capital Partners LLC acted as a financial advisor to Argo Blockchain in connection with the transaction.

Argo, the leading cryptocurrency miner based in the UK (LSE: ARB), is pleased to announce it has taken a 25% stake to become the lead investor in Pluto Digital Assets PLC. Pluto is a crypto venture capital and technology company that connects Web 3.0 decentralised technologies to the global economy. Pluto invests in, incubates and advises digital asset projects based on decentralised technologies (DeTech), decentralised finance (DeFi) and networks such as Ethereum and Polkadot. Pluto also supports the operation of proof-of-stake networks by staking and operating validator nodes. Argo's management believes that this investment into a proof-of-stake focused digital assets company complements its leading position in the Bitcoin and proof-of-work consensus mechanism.
 
This investment of approximately £1m at 3p per share, as part of an investment round of £2.5m, has been satisfied entirely by the contribution of the Company's holding of 75,000 Polkadot (DOT), which were originally purchased in Q1 2019 at a cost of US$75,000. Argo's DOT contribution was valued at $19.43 per DOT. As part of the terms of the investment, Argo has negotiated substantial anti-dilution protections including the option to retain its 25% stake through future funding rounds. This can be done, either through payment in new Argo shares or cash. The Company will also receive 1 warrant per share purchased, exercisable at 6p for two years.
 
Pluto shares the same ethos as Argo and seeks to democratise participation in cryptocurrency markets and the blockchain space. Pluto's senior leadership team has a wealth of experience in establishing successful cryptocurrency and blockchain ventures. Some of the most notable projects they have invested in include the YOP Platform and Protocol, a highly anticipated DeFi project launched on the leading IDO platform Polkastarter. YOP is backed by leading crypto VCs and supported by some of the most influential names in crypto, and has increased by over 1800% since listing in January 2021.
 
Peter Wall, CEO of Argo Blockchain commented: "Argo believes not just in Bitcoin, but in the entire cryptocurrency ecosystem. We have always been extremely bullish on how cryptocurrencies will transform the global financial system. Our early stage investment into Polkadot in 2019 was a perfect example of this belief and we are now excited to be using that same investment to buy a significant stake in Pluto, who are actively looking for projects with high yield potential."
 
Atif Yaqub, Director for Pluto Digital Assets commented: "We are delighted to have Argo as a cornerstone shareholder and strategic partner. Pluto's combination of traditional venture capital and crypto expertise uniquely positions us to identify and support the next generation of digital asset projects. Crypto and DeFi are experiencing exponential growth and institutional adoption and Pluto is ideally positioned to participate in this transformation." 

Argo Commences Trading on OTCQX Market in the United States
 
Argo, the leading cryptocurrency miner based in the UK (LSE: ARB, OTCQX: ARBKF), is pleased to announce that trading in the Company's Ordinary Shares will begin today on the OTCQX Best Market in the United States, under the ticker symbol "ARBKF". Argo has upgraded to OTCQX from the OTCQB Venture Market.
 
The OTCQX Market is designed for established, investor-focused US and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among US investors.
Argo was sponsored for OTCQX by MCAP Markets LLC, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership. Argo's ordinary shares will continue to trade on the London Stock Exchange under the symbol ARB.
Peter Wall, Chief Executive of Argo Blockchain, said: "The OTCQX is the highest tier of the OTC market and we are delighted to have qualified to begin trading. We are proud of our commitment to transparency, openness and strong corporate governance. This approval will give increased access to US institutional and retail investors looking to invest in the Company and provide them with the opportunity to share in Argo's growth as the cryptocurrency and blockchain sectors continue to gather momentum."
 
Jonathan Dickson, Vice President of International Corporate Services at OTC Markets Group, said:  "Congratulations to Argo Blockchain PLC on qualifying for the OTCQX Best Market. We are pleased to support innovative and entrepreneurial international companies seeking to strengthen transparency and to provide better access to disclosure and trading for US investors. Cross-trading on OTCQX in the US will enable Argo Blockchain PLC, which is listed on the London Stock Exchange, to diversify its investor base and to expand its global engagement even further."

January Operational Update
 
Argo, the leading cryptocurrency miner based in the UK (LSE: ARB), is pleased to provide the following operational update for January.
 
During the month of January, Argo mined 93 Bitcoin or Bitcoin Equivalent (BTC) compared to 96 Bitcoin Equivalent in December.   
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in January amounted to £2.48 million (December 2020: £1.63 million). Argo generated this income at an average monthly mining margin of approximately 71% for the month of January (December 2020: 60%).  
At the end of January, the company held 501 BTC in Bitcoin and BTC equivalents. In the second half of January, the Company purchased a total of 172.5 BTC as part of its asset management strategy. Argo's total mining capacity is currently 787 petahash (SHA-256) in addition to 280 Megasols of equihash mining capacity. 
Following on from the announcement on 7 October, the Company is also pleased to announce that its wholly-owned subsidiary, Argo Innovations Labs Inc. ("Argo"), has signed a Share Purchase Agreement with GPU.one, the Canadian data centre provider, for the strategic purchase of the two data centres in Quebec. These facilities are currently owned and operated by GPU.one and house a portion of Argo's cryptocurrency mining equipment. The data centres have a combined total of 20MW of power capacity, and the acquisition will provide Argo with long term stability and direct control over the facilities. Subject to a number of conditions, the Company expects the purchase to close in the coming weeks, and that the purchase will be funded out of Argo's existing deposits with GPU.one, and a small cash consideration. 
Peter Wall, Chief Executive of Argo, said: "I am thrilled that Argo has delivered our best month in the company's history in both mining revenue and profits. The year has started off very strong. I'm also pleased we have signed the Share Purchase Agreement with GPU.one, an important step in us closing this transaction, and taking over those facilities ourselves."

Argo Blockchain PLC
('Argo' or 'the Company')
  
1295 new mining machines in production 
 
Argo, the leading cryptocurrency miner based in the UK (LSE: ARB), is pleased to announce that 1295 S19 and S19 pro miners were brought onstream this week. 
 
The machines, which were ordered in November 2020 and delivered ahead of schedule, will add approximately 127 petahash to the company's existing mining fleet, bringing the Company's total installed computing power to 772 petahash. By the end of Q2 2021, Argo's total installed mining power will total 1,685 petahash or 1,68 exahash. The remainder of the 10,000 machines required to achieve this target are on order and expected to be delivered in batches between February and June, as previously announced. 
 
Peter Wall, chief executive of Argo, said: "We are very pleased that these machines have been delivered ahead of schedule. Our ongoing investment in new mining hardware puts us at the forefront of mining efficiency and ensures we continue to deliver a strong performance and create long-term value for shareholders."

Argo (LSE: ARB), the leading cryptocurrency miner based in the UK, is pleased to announce that 1,058 S19 and S19 pro miners from the company's order of 4,500 leased mining machines, made in November 2020, will be delivered ahead of schedule. These machines will be fully installed and hashing by the week of January 25th, three weeks early. These units will add 103 petahash to the company's current SHA-256 mining capacity of 645 petahash, bringing the total to 748 petahash before the end of January.
The remaining 3,442 machines in the order are expected to be delivered on time, and to be fully operational by mid-February 2021. 
Peter Wall, Chief Executive of Argo, said: "This is great news. At a time when our mining margins for the first 10 days of January are well over 70%, having these new, efficient machines up and running early will increase our monthly revenues and help to continue to achieve these excellent margins. 2021 is off to a great start."
 On Argo website