Star Metro - Argo Blockchain PLC Company Update - Hosting

Argo Blockchain plc (LSE:ARB)(NASDAQ:ARBK) is pleased to announce that it has entered into a hosting arrangement with Merkle Standard LLC ("Merkle") to host 5,293 S19J Pro miners at Merkle's Memphis, Tennessee location. These miners, previously hosted by the Company at Helios, will be deployed during the month of February for a minimum one year term. Discussions continue with Merkle to increase the number of miners hosted. An additional 2,500 S19J Pro miners will be hosted at our Baie Comeau, Quebec facility where the Company currently has available capacity.

The previously hosted S19J Pro miners are currently being refurbished and converted from immersion-based miners to air cooled miners and the Company expects this conversion process to be completed by the end of March, with completed units being shipped to Merkle and Baie Comeau during the month of February. By the end of February, after these deployments, the Company expects one third of the approximately 23,000 miners previously hosted at Helios to be operational.

With the refurbishment process underway and hosting arrangements in place, Argo's hashrate will steadily increase during the month of February. Ongoing discussions to host the remaining miners continue and the Company will update the market on further install plans as progress is made.

This announcement contains inside information.

For further information please contact:

About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With a mining facility in Quebec 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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

SOURCE: Argo Blockchain PLC

View the original press release on ACCESS Newswire

O.Ouellet--SMC