Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 102

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 102
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 1,166   ​     (53,833)   ​
Impairment of intangible fixed assets                  (468)   ​     (1,082)   ​      (5,300)   ​
Equity accounted loss from associate                       —   ​       (716)   ​      (6,027)   ​
Revaluation of contingent consideration        ​           —   ​           —   ​        4,994   ​
Loss before taxation                           ​    (54,762)   ​    (34,637)   ​    (240,692)   ​
Income tax (expense) recovery                  ​       (340)   ​           —   ​       11,731   ​
Loss after taxation                                 (55,102)   ​    (34,637)   ​    (228,961)   ​
Other comprehensive income                     ​           ​   ​           ​   ​            ​   ​
Currency translation reserve                   ​       (241)   ​     (1,175)   ​     (20,639)   ​
Equity accounted OCI from associate            ​           —   ​           —   ​      (8,744)   ​
Fair value reserve                             ​           —   ​           —   ​        (551)   ​
Total comprehensive loss                            (55,343)   ​    (35,812)   ​    (258,895)   ​
​
Comparison of the years ended December 31, 2024 and 2023 (in ‘000’s)
Total revenue
Total revenue decreased by $3,541 to $47,017 for the year ended December 31, 2024 from $50,558 for the year ended December 31, 2023. This decrease was primarily driven by the most recent halving for bitcoin which occurred on April 19, 2024 at block 840,000, when the reward was reduced to 3.125. In 2024 we mined 755 bitcoin and realized $62,303 per bitcoin as compared to 1,760 and $28,723 in 2023, respectively.
Power and hosting costs
Power and hosting costs decreased by $3,077 to $32,887 for the year ended December 31, 2024 from $35,964 for the year ended December 31, 2023. This decrease in cost is attributable to improvements to the facility, further optimizing the operations at the site, as well