Business Wire | May 4, 2021 07:00AM EDT

Cryptocurrency Mining Company Argo Blockchain Generates Record Revenue in April

May 04, 2021

LONDON--(BUSINESS WIRE)--May 04, 2021--Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB) (OTCQX: ARBKF) today announced it has mined 163 Bitcoin or Bitcoin Equivalent (together, "BTC") in April compared to 165 BTC in March. At the end of April, the company held 936 BTC.

Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in April amounted to $9.3 million compared to $9.1 million in March 2021. Argo generated this income at an average monthly mining margin of approximately 85 per cent for the month of April, up from 84 per cent in March 2021.

"I'm thrilled that Argo has generated a fourth consecutive month of record mining revenue and profits" said CEO Peter Wall. "I'm also pleased to have engaged Navier in the development of our Texas facility, a partnership that will enable us to expand our mining infrastructure significantly and efficiently. I am also delighted to have announced the second year of triple digit growth in our 2020 full year results. Our team has laid an excellent foundation for 2021 and our strong performance in Q1 of this year highlights we are executing it in line with expectations."

About Argo:

Argo Blockchain Plc is a global leader in cryptocurrency mining with one of the largest and most efficient operations powered by clean energy. The Company is headquartered in London, UK and its shares are listed on the Main Market of the London Stock Exchange under the ticker: ARB and on the OTCQX Best Market in the United States under the ticker: ARBKF.

argoblockchain.com

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CONTACT: North America Wachsman argo@wachsman.com Tel: +1-212-835-2511 Europe Emma Valgimigli emma@tancredigroup.com Tel: +44 7727 180 873 Salamander Davoudi salamander@tancredigroup.com Tel: +44 7957 549 906