ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Argo Breaks Ground on Highly-Anticipated West Texas Blockchain Infrastructure and Mining Facility

July 22, 2021 GMT

LONDON--(BUSINESS WIRE)--Jul 22, 2021--

Argo Blockchain Plc (LSE: ARB; OTCQX: ARBKF), (“Argo” or the “Company”), a global leader in sustainable blockchain infrastructure and cryptocurrency mining, today announced that it has broken ground on its highly-anticipated, renewable energy-focused 200-megawatt (MW) cryptocurrency mining facility in Dickens County, Texas. The new facility will transform Argo’s mining capacity and is expected to be completed in the first half of 2022.

Kevin Brendle, Dickens County Judge in Texas, said: “Words cannot begin to explain how thrilled I am to welcome Peter and his team to Dickens County. The management team’s commitment to sustainability and reinvigorating our local economy is exciting, and we look forward to the continued positive impact they will bring to our community.”

With the construction of the new site, Argo is expected to add up to 20 new, full-time jobs in Dickens County. The site gives Argo access to up to 800 mW of electrical power.

ADVERTISEMENT

Peter Wall, Chief Executive of Argo Blockchain, said: “Texas is a leader in renewable power generation in the United States with a flexible grid, producing some of the most competitive and most sustainable electricity rates in the nation, which is one of the many reasons why we look forward to partnering with the community in Dickens County to bring this important project to Texas. Breaking ground marks an exciting new chapter as we continue to gain greater control of our mining operations and strengthen our position as a global leader in sustainable blockchain infrastructure and mining, and we are eager to get up-and-running.”

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210722005310/en/

CONTACT: Carissa Felger/Genevieve Pirrong

Gasthalter & Co.

(212) 257-4170

KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: FINANCE ENERGY PROFESSIONAL SERVICES OTHER ENERGY UTILITIES

SOURCE: Argo Blockchain Plc

Copyright Business Wire 2021.

PUB: 07/22/2021 08:00 AM/DISC: 07/22/2021 08:02 AM

http://www.businesswire.com/news/home/20210722005310/en