Argo Blockchain Plc Files Q1 2024 Results
Ticker: ARBK · Form: 6-K · Filed: May 23, 2024 · CIK: 1841675
| Field | Detail |
|---|---|
| Company | Argo Blockchain PLC (ARBK) |
| Form Type | 6-K |
| Filed Date | May 23, 2024 |
| Risk Level | medium |
| Pages | 7 |
| Reading Time | 9 min |
| Key Dollar Amounts | $12.4 million, $16.8 m, $3.0 m, $3.2 million, $3.8 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: results, crypto, foreign-private-issuer
TL;DR
Argo Blockchain dropped its Q1 2024 results, check it for crypto mining biz health.
AI Summary
Argo Blockchain plc filed its Q1 2024 results on May 23, 2024. The company is a foreign private issuer incorporated in England and Wales, with its principal executive office located in London. Argo Blockchain is involved in the finance services sector, specifically cryptocurrency mining.
Why It Matters
This filing provides an update on Argo Blockchain's financial performance and operational status for the first quarter of 2024, which is crucial for investors to assess the company's health and future prospects in the volatile cryptocurrency market.
Risk Assessment
Risk Level: medium — Argo Blockchain operates in the highly volatile cryptocurrency sector, which inherently carries significant market and regulatory risks.
Key Players & Entities
- Argo Blockchain plc (company) — Filer of the report
- 0001654954-24-006809 (filing_id) — Accession Number for the filing
- 20240523 (date) — Filing date and period of report
- 001-40816 (company_id) — SEC File Number for Argo Blockchain
- London (location) — Principal executive office location
FAQ
What is the primary business of Argo Blockchain plc?
Argo Blockchain plc is primarily involved in the finance services sector, specifically cryptocurrency mining, as indicated by its SIC code and the context of the filing.
When was this report filed with the SEC?
This report (Form 6-K) was filed on May 23, 2024.
What is the SEC file number for Argo Blockchain plc?
The SEC file number for Argo Blockchain plc is 001-40816.
Where is Argo Blockchain plc's principal executive office located?
Argo Blockchain plc's principal executive office is located at Eastcastle House, 27/28 Eastcastle Street, London W1W 8DH, England.
Does Argo Blockchain plc file annual reports under Form 20-F or Form 40-F?
Argo Blockchain plc indicates that it files annual reports under Form 20-F.
Filing Stats: 2,248 words · 9 min read · ~7 pages · Grade level 19.3 · Accepted 2024-05-23 07:32:40
Key Financial Figures
- $12.4 million — Company ended the quarter with cash of $12.4 million and held 11 Bitcoin ("BTC") or Bitcoin
- $16.8 m — 5CF;     Revenue of $16.8 million, an increase of 4% compared to Q4
- $3.0 m — A0; Gain on sale of Mirabel facility of $3.0 million, net of tax ●  
- $3.2 million — CF;     Net loss of $3.2 million ●     Adju
- $3.8 million — 0;    Adjusted EBITDA of $3.8 million     Management Commenta
- $12 m — d the Bitcoin halving with cash of over $12 million, Q1 debt reduction of over $12 mi
- $12 million — $12 million, Q1 debt reduction of over $12 million and streamlined Quebec operations resul
Filing Documents
- a5578p.htm (6-K) — 152KB
- 0001654954-24-006809.txt ( ) — 153KB
forward-looking statements which reflect the Company's current
forward-looking statements which reflect the Company's current views, interpretations, beliefs or expectations with respect to the Company's financial performance, business strategy and plans and objectives of management for future operations. These statements include forward-looking statements both with respect to the Company and the sector and industry in which the Company operates. "intends", "plans", "believes", "projects", "anticipates", "will", "targets", "aims", "may", "would", "could", "continue", "estimate", "future", "opportunity", "potential" or, in each case, their negatives, and similar statements of a future or forward-looking nature identify forward-looking statements. All forward-looking because they relate to events that may or may not occur in the future, including the risk that the Company may receive the benefits contemplated by its transactions with Galaxy, the Company may be unable to secure sufficient additional financing to meet its operating needs, and the Company may not generate sufficient working capital to fund its operations for the next twelve months as contemplated. Forward-looking statements are not guarantees of future performance. Accordingly, there are or will be important factors that could cause the Company's actual results, prospects and performance to differ materially from those indicated in these prospects and performance are consistent with the forward-looking indicative of results in subsequent periods. These forward-looking to any obligations under the Prospectus Regulation Rules, the Market Abuse Regulation, the Listing Rules and the Disclosure and Transparency Rules and except as required by the 
SIGNATURES
SIGNATURES   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.   Date: 23 May 2024 ARGO BLOCKCHAIN PLC By: /s/ Jim MacCallum Name: Jim MacCallum Title: Chief Financial Officer