Argo August Operational Update

Press Release

5 September 2024

Argo Blockchain plc

("Argo" or "the Company")

August Operational Update

Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to provide the following operational update for August 2024.

During the month of August, the Company mined 38 Bitcoin ("BTC"), or 1.2 BTC per day down from 1.5 per day in July 2024. BTC production was down due to more frequent economic curtailments during the month and lower hash price.

Mining revenue in August 2024 amounted to $2.3 million down from $3.0 million in July 2024. Mining margin for August 2024 was below 10%, lower than July as a result of the lower hash price realized in August compared to July, and higher power prices. As at 31 August 2024, the Company held 10 BTC equivalent.

Allotment of New Shares

Additionally, the Company announces that it has issued 1,468,730 new ordinary shares of £0.001 each in the capital of the Company ("Ordinary Shares") pursuant to the terms of previously granted Restricted Share Units under the 2022 Equity Incentive Plan approved by shareholders at the Company's 2022 Annual General Meeting.

The new Ordinary Shares rank pari passu with the existing Ordinary Shares in issue, and application has been made for the shares to be admitted to the Official List and to trading on the Main Market of the London Stock Exchange PLC.

Share Capital and Total Voting Rights

The Company also announces, in compliance with its obligations under Rules 5.6.1R and 5.6.2G of the Disclosure Guidance and Transparency Rules, that as at 31 August 2024, the Company's share capital will consist of 637,820,878  ordinary shares of £0.001 each (Ordinary Shares). All of the Ordinary Shares have equal voting rights and there are no shares held in Treasury.

The above figure may be used by shareholders as the denominator for the calculations by which they can determine whether they are required to notify their interest in, or a change of their interest in, the Company under the FCA Disclosure Guidance and Transparency Rules.

This announcement contains inside information.

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About Argo:

Argo Blockchain plc is a dual-listed (LSE: ARB; NASDAQ: ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With mining facilities in Quebec, mining operations in Texas, and offices in the US, Canada, and the UK, Argo's global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, and a signatory to the Crypto Climate Accord. For more information, visit www.argoblockchain.com.