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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Argo Blockchain Plc | LSE:ARB | London | Ordinary Share | GB00BZ15CS02 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.70 | -5.74% | 11.50 | 11.00 | 12.00 | 12.25 | 11.50 | 12.25 | 1,944,850 | 13:38:48 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Business Services, Nec | 47.36M | -194.23M | -0.3628 | -0.32 | 61.56M |
Argo, a UK-based provider of enterprise scale cryptocurrency mining services (LSE: ARB), is pleased to announce the variation and extension of a multi-year agreement with GPU.one, a leading Canadian data centre provider which increases the Company’s access to clean power supplies to a total of 14 megawatts at significantly reduced prices.
The agreement builds on the Company’s existing relationship with GPU.one and replaces an existing three-year deal signed in August 2018, at the time when Argo commenced its industrial-scale mining operations.
The new agreement:
As part of the new agreement, Argo has agreed to convert a previously paid deposit of £1,436,700 into a strategic investment in GPU.one.
Mike Edwards, Executive Chairman of Argo, said: "This deal strengthens our existing strong relationship with GPU.one and is part of our ambitious expansion to take advantage of the continuing industry upturn. The reduction of costs under this agreement, together with the new, more efficient hardware we have purchased means we are now one of the most efficient miners in the market. GPU.one provides the robust infrastructure in an established jurisdiction to support our long-term growth."
Both data centres are fully operational and the 14MW capacity will be filled by September 2019 with the previously announced purchases of mining hardware.
Vladimir Plessovskikh, the Chief Executive of GPU.one, said: “Argo is at the forefront of this fast-growing global sector and this new agreement is part of a successful and long-term collaboration between GPU.one and Argo.”
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 London Stock Exchange under the ticker: ARB.
About GPU.one:
GPU.one is the Canadian leader in turn-key high-density data centres. We build and manage affordable, secure, high-quality, high-reliability facilities specializing in density solutions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190627005491/en/
Argo Blockchain Mike Edwards President & Executive Director via Tancredi +44 207 887 7633 Neil Thapar Financial Communications Adviser +44 (0) 7876 455323 Mirabaud Peter Krens Corporate Broker +44 203 167 7221 Tancredi Intelligent Communication Media Relations Salamander Davoudi salamander@tancredigroup.com +44 7957 549 906 Emily Valgimigli emma@tancredigroup.com +44 7727 180 873
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