Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
07 November 2024 - 5:24PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 6-K
_____________________
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2024
Commission File Number: 001-40816
_____________________
Argo Blockchain plc
(Translation of registrant’s name into English)
_____________________
Eastcastle House
27/28 Eastcastle Street
London W1W 8DH
England
(Address of principal executive office)
_____________________
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate
by check mark if the registrant is submitting the Form 6-K in paper
as permitted by Regulation S-T Rule 101(b)(7): ☐
EXHIBIT INDEX
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Exhibit
No.
1
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Description
Baie
Comeau and Helios Updates dated 07 November 2024
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Press Release
7 November 2024
Argo Blockchain plc
("Argo" or "the Company")
Baie Comeau, High Performance Computing and Helios
Updates
Argo Blockchain plc, a global leader in cryptocurrency mining (LSE:
ARB; NASDAQ: ARBK), is pleased to provide the following
update:
Baie-Comeau and High Performance Computing (HPC)
Argo has entered into a non-binding letter of intent ("LOI") with
BE Global Development Limited ("BE"), a specialist in HPC
solutions, to explore a significant expansion at the Company's
owned and operated Baie-Comeau facility. This proposed expansion
would involve deploying advanced HPC infrastructure, which would
diversify Argo's capabilities beyond Bitcoin mining into
high-performance computing, positioning the Company to serve
broader computing applications in data processing, AI, and other
computationally intensive tasks.
The potential HPC expansion reflects Argo's commitment to
leveraging its infrastructure, driving innovation and exploring
strategic growth opportunities in emerging computational markets.
The HPC expansion will require the Company to incur capital
expenditure at its Baie Comeau site, which is anticipated to be met
by additional financing, certain aspects of which may be subject to
shareholder approval. The Company will keep shareholders informed
as due diligence and financing discussions progress.
Thomas Chippas, Argo's Chief Executive Officer, said: "We are
pleased to explore new possibilities for our North American
operations with BE. This potential move into high-performance
computing underscores our strategic focus on diversifying Argo's
capabilities and positioning the company at the forefront of
innovative computational markets, reinforcing our commitment to
sustained growth and technological leadership."
Helios
Despite ongoing discussions with Galaxy to renew the Company's
current hosting agreement at Helios, the Company was informed
yesterday by Galaxy that it did not intend to renew the contract
beyond the current end date of 28 December 2024. Galaxy has today
also announced a non-binding term sheet to host HPC at its Helios
facility utilising the space and power currently dedicated to
cryptoasset mining. The Company is considering its options for its
mining fleet, which stands at 23,000 S19j Pros, hosted at the
Helios facility.
This announcement contains inside information.
For further information please contact:
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Argo Blockchain
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Investor Relations
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ir@argoblockchain.com
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Tennyson Securities
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Corporate
Broker
Peter Krens
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+44 207 186 9030
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Fortified Securities
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Joint
Broker
Guy Wheatley, CFA
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+44 7493 989014
guy.wheatley@fortifiedsecurities.com
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Tancredi Intelligent Communication
UK
& Europe Media Relations
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argoblock@tancredigroup.com
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About Argo:
Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK)
blockchain technology company focused on large-scale cryptocurrency
mining. With mining facilities in Quebec, mining operations in
Texas, 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.
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.
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Date:
07 November, 2024
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ARGO BLOCKCHAIN PLC
By:
/s/ Jim
MacCallum
Name:
Jim MacCallum
Title:
Chief Financial Officer
|
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