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Argo Blockchain PLC - 7,000 mining machines now in production

RNS Number : 8712S
Argo Blockchain PLC
11 November 2019



11 November 2019



Argo Blockchain PLC

('Argo' or 'the Company')



7,000 mining machines now in production


Investment in new hardware continues to deliver rapid returns



Argo, a leading enterprise-scale cryptominer based in the UK (LSE: ARB), is pleased to announce that 500 new Bitmain S17 Antminer machines were brought onstream last week, increasing the total number of machines in production to 7,000. 


The new machines are part of Argo's strategy to install and operate a total production base of approximately 17,000 machines by the end of the first quarter of 2020, a more than 140% increase from current levels. The remainder of the 10,000 machines required to achieve that target are already on order and expected to be delivered in batches from early next month.


Argo is also pleased to report that, further to its announcement of 28 August 2019, 1,026 S17 Antminers that commenced production in late May 2019 have achieved a 100% payback on their investment.


Mike Edwards, Executive Chairman of Argo, commented: "Our strategy to make a major investment in new mining hardware this year continues to deliver strong returns. We are also confident that the ongoing expansion of our mining infrastructure will deliver returns in line with our expectations and create long-term value for shareholders." 


Argo Blockchain

Mike Edwards

President & Executive Director


Neil Thapar

Financial Communications Adviser

via Tancredi +44 203 434 2334



+44 7876 455323


Corporate Broker

Peter Krens

+44 203 167 7221

Tancredi Intelligent Communication

Media Relations

Salamander Davoudi

[email protected]


 Emma Valgimigli

[email protected]

+44 7957 549 906



+44 7727 180 873



About Argo:

Argo Blockchain plc is a global data centre business that provides a purpose-built and flexible platform for mining of leading cryptocurrencies for the enterprise-scale and institutional sectors worldwide from operational centres in Canada. 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.




See Argo's largest facility in Quebec:



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Quick facts: Argo Blockchain PLC

Price: 4.8

Market: LSE
Market Cap: £14.1 m

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