Argo Blockchain PLC 2022 AR2
The report highlights Argo Blockchain PLC's operational and financial performance for the fiscal year ended 31 December 2022. During the year, the company completed and energized the Helios facility in Texas, increasing its total hashrate capacity by over 50% to 2.5 EH/s. However, due to significant headwinds including sharp declines in Bitcoin prices and rising energy costs, the company made the strategic decision to sell the Helios facility to Galaxy Digital for £54 million to reduce debt and simplify its operating structure. Argo maintained ownership of its entire mining fleet of over 27,000 machines and entered into a two-year hosting agreement to continue operations at Helios. Additionally, the company continued to operate its two hydropower-powered data centers in Quebec, Canada, and remained committed to its climate strategy.
Company: Argo Blockchain PLC
Sector: Technology & telecommunications
Country: United Kingdom
Year: 2022
Type: AR2
Pages: 109
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Argo Blockchain PLC
Annual Report And Financial Statements
The report highlights Argo Blockchain PLC's operational and financial performance for the fiscal year ended 31 December 2022. During the year, the company completed and energized the Helios facility in Texas, increasing its total hashrate capacity by over 50% to 2.5 EH/s. However, due to significant headwinds including sharp declines in Bitcoin prices and rising energy costs, the company made the strategic decision to sell the Helios facility to Galaxy Digital for £54 million to reduce debt and simplify its operating structure. Argo maintained ownership of its entire mining fleet of over 27,000 machines and entered into a two-year hosting agreement to continue operations at Helios. Additionally, the company continued to operate its two hydropower-powered data centers in Quebec, Canada, and remained committed to its climate strategy.
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Document Details
Report Year
2022
Reporting Period
Jan 1, 2022 - Dec 31, 2022
Fiscal Year
2022
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Women on Board
Women in Management
Employees