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RNS Number : 9837Q Argo Blockchain PLC 02 November 2021 Press Release 02 November 2021 Argo Blockchain PLC ( " Argo " or " the Company " ) Q3 2021 Results and Conference Call Argo Blockchain plc ( LSE : ARB ; NASDAQ : ARBK ) , ( " Argo " or the " Company " ) , a global leader in sustainable cryptocurrency mining and blockchain , today announced its financial results for the quarter ended September 30 , 2021. All $ amounts are in United States Dollars ( " USD " ) and all £ amounts are in British Pounds ( " GBP " ) , unless otherwise stated . Generated record revenue of $ 26.0 million ( £ 19.3 million ) Record $ 17.3 million of net income and $ 28.2 million of EBITDA ( £ 12.9 million of net income and £ 21.0 million of EBITDA ) ¹ Mined 597 Bitcoin and Bitcoin Equivalents in Q3 2021 Completed ADR listing on Nasdaq Construction of Helios mining facility in Dickens County , Texas underway Argo generated record - setting revenue , net income and EBITDA of $ 26.0 million , $ 17.3 million and $ 28.2 million , respectively , for the third quarter of 2021 ( £ 19.3 million , £ 12.9 million , and £ 21.0 million , respectively ) . For the nine months ended September 30 , 2021 , the Company's revenue , net income and EBITDA were $ 67.9 million , $ 27.1 million and $ 49.8 million , respectively ( £ 50.4 million , £ 20.1 million , and £ 36.9 million , respectively ) . " From breaking ground on our sustainable cryptocurrency mining facility in Dickens County , Texas to our public listing on Nasdaq in the United States , this quarter has been pivotal as Argo continues to scale , " stated Peter Wall , Chief Executive Officer of Argo Blockchain . " I am proud of the growth we experienced during the quarter and believe Argo is strategically positioned to continue this momentum as we build out our Helios facility in Texas . " Texas Mining Facility Update In July 2021 , Argo broke ground on its renewable energy - focused 200 - megawatt ( MW ) cryptocurrency mining facility in Dickens County , Texas . The new Helios facility will bolster Argo's mining capacity and is expected to add at least 20 new , full time jobs in Dickens County . The site gives Argo access to up to 800 MW of electrical power and has garnered excitement and support from local community members and government officials . Bitcoin Mining During the third quarter , Argo mined 597 Bitcoin and Bitcoin Equivalent ( together , BTC ) , bringing Argo's BTC holding to 1,836 as of September 30 , 2021. Argo has been able to achieve these results while maintaining a gross margin of 120 % and an industry - leading mining margin of 85 % with an average direct cost per BTC mined of $ 6,293 ( £ 4,673 ) . On September 30 , 2021 , Argo executed a purchase agreement for 20,000 Bitmain Antminer S19J Pro machines for the mining facility it is building in Texas . The machines are expected to be delivered starting Q2 2022 and will increase our total hashrate capacity to approximately 3.7 Exahash , up from 1.075 at the end of Q3 2021 . ( 1 ) Due to favorable changes in fair value of Bitcoin and Bitcoin Equivalents in Q3 2021 , gross profit and EBITDA exceeded revenue in the period . United States Public Listing on Nasdaq Among the many milestones experienced throughout the quarter , Argo completed its ADR listing on Nasdaq on September 23 , 2021. The Company has been publicly listed on the London Stock Exchange since August 2018 and is now listed in both jurisdictions . Earnings Conference Call Argo will host a conference call to discuss its results at 08:00 ET / 12 : 00 GMT tomorrow , Tuesday , November 2 , 2021. The live webcast of the call can be accessed via the Investor Meet Company platform . Investors can sign up to Investor Meet Company for free and add Argo Blockchain via the following link : https://www.investormeetcompany.com/argo-blockchain-plc/register-investor Investors already following Argo Blockchain on the Investor Meet Company platform will be invited automatically . Forward - Looking Information This press release contains forward - looking statements within the meaning of applicable securities laws with respect to our cryptocurrency mining facility in Texas . All statements , other than statements of historical facts , included in this press release that address activities , events or developments that the Company expects , believes or anticipates will or may occur in the future are forward - looking statements . Without limiting the generality of the foregoing , forward - looking statements contained in this press release specifically include the expectations of plans , strategies , objectives , and anticipated financial and operating results of the Company , including hash rates , the Company's mining program , delivery schedules , future hashrates and other guidance included in this press release . These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends , current conditions , anticipated future developments and other factors believed to be appropriate . Such statements are subject to a number of assumptions , risks and uncertainties , many of which are beyond the control of the Company , which may cause actual results to differ materially from those implied or expressed by the forward - looking statements . Actual results could differ from those described herein for a variety of reasons , including unanticipated delays in machine delivery due to component supply shortages or other reasons , or disruptions to the Company's current mining fleet that could reduce future hashrate . For a more complete discussion of factors Page 1 of 3