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RNS Number : 9297H Argo Blockchain PLC 09 August 2021    Press release   09 August 2021     Argo Blockchain , a global leader in cryptocurrency mining ( LSE : ARB ) , is pleased to announce its results for the six months to 30 June 2021 .  Financial highlights   ·    Revenues increase by 180 % to  £ 31.1m reflecting increase in production coupled with an increase in Bitcoin prices ( H1 2020 :   £ 11.1m )  ·    EBITDA * increased by 332 % to  £ 16.0m ( H1 2020 :   £ 3.7m ) despite a  £ 6.2m downward revaluation of digital assets and a  £ 1.6m share based payment charge     Mining margin of 81 % ( H1 2020 : 39 % ) Argo Blockchain PLC ( " Argo " or " the Company " )  Interim Half Year Results 2021 Update on Mining Infrastructure     Pre - tax profit of  £ 10.7m ( H1 2020 :   £ 0.5m )  ·    Total number of Bitcoin and Bitcoin Equivalent mined during H1 2020 was 883 BTC ( 2020 : 1,669 ) .  The change from the previous period was mainly due to the halving of May 2020     Total number of Bitcoin and Bitcoin Equivalent held as at 30 June 2021 were 1,268 BTC , an increase from 127 Bitcoin and Bitcoin Equivalent as at 30 June 2020  * Earnings before interest , tax , depreciation and amortisation  Operating highlights A       Mining capacity increased from 685 petahash as at 31 December 2020 to 1,075 petahash as at 30 June 2021  Post period end        Broken ground at the Texas facility  ·     In late June and July , significant changes in mining difficulty led to a substantial decrease in the global hashrate , resulting in an increase in the number of Bitcoin Argo mines with the same hashpower       New board appointments  Commenting on the results ,  Peter Wall , chief executive and interim chairman , said : " We have capitalised on a change in market conditions in the first half of 2021 to deliver strong growth in both revenues and profits , demonstrating that our smart growth strategy is delivering value to shareholders . " Ä Â Update on Mining Infrastructure The Company announces an update to its 22 February 2021 announcement relating to the expansion of the Company's mining capacity in Q4 2021 and 2022. As previously announced , Argo committed to an initial purchase of US $ 8 million of mining rigs from ePIC Blockchain Technologies ( " ePIC " ) , with delivery expected to begin in Q4 2021. However , based on limitations of technology ,  Argo and ePIC have agreed to amend the agreement . Under the amended agreement , the initial purchase order was cancelled and , at Argo's option , $ 5 million deposited with ePIC , in whole or in part , can be applied to the purchase of ePIC mining machines or ePIC common stock or repaid in full . This announcement contains inside information .   For further information please contact :  Argo Blockchain Peter Wall Chief Executive finnCap Ltd A via Tancredi +44 203 434 2334  A Page 1 of 13