Bitcoin and Bitcoin Equivalent Mining Margin and Adjusted EBITDA are financial measures not defined by IFRS. We believe Bitcoin and Bitcoin Equivalent Mining Margin and Adjusted EBITDA have limitations as analytical tools. In particular, Bitcoin and Bitcoin Equivalent Mining Margin excludes the depreciation of mining equipment and so does not reflect the full cost of our mining operations, and it also excludes the effects of fluctuations in the value of digital currencies and realized losses on the sale of digital assets, which affect our IFRS gross profit. These measures should not be considered as an alternative to gross margin or net income/(loss), as applicable, determined in accordance with IFRS, or other IFRS measures.

This Announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This Announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S.

Argo xcritical Raises GBP5.13 Mln Via Discounted Share Placing

Argo, which earlier this month warned that it might have to file for Chapter 11 bankruptcy protection due to insufficient cash, said the deals will allow the company to continue its operations. The income statement has been prepared on the basis that all operations are continuing operations. During the first quarter, Argo successfully transitioned the Helios facility to Galaxy Digital. In addition, the average all-in price of power and hosting was lower than the previous guidance of $0.05 – $0.055 per kilowatt-hour for the quarter. The company is also seeking to raise an extra GBP616,000 via retail offer on the PrimaryBid platform at the discounted price.

• The PrimaryBid Offer is conditional on the new Ordinary Shares to be issued pursuant to the PrimaryBid Offer and the Placing being admitted to the standard listing segment of the Official List of the Financial Conduct Authority and admitted to trading on the main market for listed securities of London Stock Exchange plc (Admission).
• The proceeds of the proposed Placing and PrimaryBid Offer (Capital Raise) will be used to reduce the Company’s outstanding indebtedness and to pursue strategic growth projects.
• The Company operates two mining facilities located in Quebec and Texas and has offices in the US, Canada and the UK.
• Argo xcritical PLC is a United Kingdom-based cryptocurrency mining company that was originally founded in 2018.
• The PrimaryBid app is available on the UK Apple App Store and Google Play Store.
• For further information on PrimaryBid, the PrimaryBid Offer or for a copy of the terms and conditions (including the procedure for application and payment for new Ordinary Shares) that apply to registered users of PrimaryBid in addition to the terms and conditions set out in this Announcement, visit or email PrimaryBid at

It will open the possibility of it rising to $35,000 followed by $40,000. Such a move will be positive for Argo xcritical and other mining stocks. The global crypto market cap is $1.21 trillion with a 24-hour volume of $31.11 billion. The price of Bitcoin is $30,005.44 and BTC market dominance is 48.3%.

Argo xcritical PLC Announces Q1 2023 Results

Argo xcritical provides 45MW active mining power (megawatts) through its energy-efficient mining facilities located within North America. Additionally, they provide 1.605 EH/s through the SHA-256 Hashrate as a capacity and a 280MS Equihash Rate. Equihash is the algorithm that is specifically used for the process of mining Zcash, which is a popular alt-coin.

The crypto miner, which was founded in 2017 by CEO Peter Wall, had been struggling with an increase in costs and pressured margins amid lower bitcoin prices and higher power costs at Helios. London-listed shares of Argo, which have tumbled 92% so far this year, were up 120% to 8.5 pence in early trade, after the sale and refinancing agreement with Canada-listed crypto-investor Galaxy Digital Holdings (GLXY.TO). Data are provided ‘as is’ for informational purposes only and are not intended for trading purposes.

London-based Argo said it plans to focus its operations at its two data centres in Quebec, Canada, which are powered fully by low-cost hydroelectricity. Digital currency miners such as Argo xcritical use computers to solve cryptographic problems and receive a reward in the form of cryptocurrency. The transactions include refinancing loans with a new $35 million credit with Galaxy, which will help reduce its total indebtedness by $41 million, the company said in a statement.

NewsArgo xcritical PLCARB

Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. The sale comprised a private placing that raised 5.134 million pounds and a public sale that raised 616,000 pounds, the London Stock Exchange-traded company said Wednesday. Argo said prior to the sale it had 59.1 million pounds of debt outstanding. xcritical courses scam PLC reported Wednesday a fall in first-half pretax profit due to higher costs and despite a surge in revenue. The cryptocurrency-miner made a pretax profit of 523,074 pounds ($679,055) for the six months co…

The price of Ethereum is $1,895.43 and ETH market dominance is 18.9%. Argo, whose Nasdaq-listed shares were suspended on Dec. 27, said it expects to resume trading there on Wednesday. This year has been difficult for crypto miners with shares of Marathon Digital (MARA.O), Riot xcritical (RIOT.O) and Valkyrie Bitcoin Miners ETF (WGMI.O) plunging between 80%-90% as they struggle with cash burn and debt. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.

ECB to raise rates by 25 basis points in July, slim majority say Sept too

Their energy source is majority hydroelectric, and the coins they mine are Bitcoin (BTC) and Zcash (ZEC). This Announcement and the information contained herein, is restricted and is not for publication, release or distribution, directly or indirectly, in whole or in part, in or into Australia, Canada, the Republic of South Africa, Japan or any other jurisdiction in which such publication, release or distribution would be unlawful. Further, this Announcement is for information purposes only and is not an offer of securities in any jurisdiction. In April, the London-based company reported a full-year net loss of 194.2 million pounds compared with net income of 30.8 million pounds the year before, reflecting the sharp drop in the value of bitcoin (BTC) during the previous 12 months, as mining firms across the industry struggled to stay afloat.

These measures are not necessarily comparable to similarly titled measures used by other companies. As a result, you should not consider these measures in isolation from, or as a substitute analysis for, our gross margin or net income/(loss), as applicable, as determined in accordance with IFRS. Argo xcritical is a world-leading cryptocurrency miner, which excels in the usage of renewable sources of power as a means of supporting the growth as well as the development of xcritical technologies.

The Company is evaluating a number of novel opportunities with power generators to help capture the full economic value of their stranded or underutilized energy. A portion of the proceeds from the Capital Raise will be used to pursue growth projects of this nature, which the Company believes will create long term shareholder value. The PrimaryBid Offer is conditional on the new Ordinary Shares to be issued pursuant to the PrimaryBid Offer and the Placing being admitted to the standard listing segment of the Official List of the Financial Conduct Authority and admitted to trading on the main market for listed securities of London Stock Exchange plc (Admission). The team behind Argo xcritical PLC consists of multi-talented, dynamic mining and xcritical network experts, technologists, entrepreneurs, and engineers. CryptoSlate has no affiliation or relationship with the company mentioned on this page. “(The) transaction with Galaxy… provides us with a stronger balance sheet and enhanced liquidity to help ensure continued operations through the ongoing bear market,” Wall said.

Argo Is Using Derivatives to Offset Risk. How It Could Help Other Crypto Miners.

The number of shares sold represent about 12% of the company’s pre-sale market cap at price of 10 pence per share, a discount of around 14% to the 30-day volume weighted average price (VWAP) of Argo stock. https://scamforex.net/ has underperformed other mining stocks this year since companies like Hive, Cipher, and Marathon Digital have all jumped by more than 100%. This performance is mostly because Argo is more vulnerable than the other Bitcoin mining companies. It is so risky that it almost went bankrupt in 2022 because of its huge debt. The future facilities, which are planned to launch in Texas, are planned to source mainly wind and solar power.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, xcritical and Web3. Argo avoided the fate of bankruptcy that befell some of its peers by agreeing to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million. It also agreed a $35 million loan from the Michael Novogratz crypto-focused financial-services firm, secured by its mining equipment. Cryptocurrency miner Argo xcritical (ARB) has raised 5.7 million British pounds ($7.5 million) through the sale of new shares. Turning to the daily chart, we see that the ARB stock price has moved sideways in the past few months.

Crypto-mining data centre operator Compute also filed for bankruptcy in September. Crypto mining was deemed an “emerging challenge to power reliability in upcoming years” by North American Electric Reliability Corporation this month. The Company is also conducting a placing of new Ordinary Shares at the Issue Price by way of an accelerated bookbuilding process (the Placing) as announced earlier today. ARB shares are down more than 20% at 10.74 pence at the time of writing.

Most of this cash came from the $100 million bailout by Galaxy Digital. As part of the transaction, Galaxy acquired Helios Bitcoin Mining facility, a key part of the company. Argo xcritical PLC offers mining-as-a-software (MaaS) services that make it easier for clients to mine Bitcoin Gold, Ethereum, and other alternative coins through a cloud-based solution.