Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 107

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 107
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 us to simplify our operating structure. 
On July 19, 2023, the Company raised $7.5 million of gross proceeds via a non-preemptive placing of 57,500,000 new ordinary shares to both institutional and retail investors in the UK. The proceeds were used for general corporate purposes and to repay a portion of the Galaxy ABS Loan.
On January 8, 2024, the Company raised $9.9 million of gross proceeds via a non-preemptive placing of 38,064,000 new ordinary shares to institutional investors in the UK. The proceeds were used for general corporate purposes and to repay a portion of the Galaxy ABS Loan.
On March 26, 2024, the Company sold its data center located in Mirabel, Quebec for a total consideration of $6.1 million. The net proceeds from the transaction were used to first repay the Mirabel Facility’s outstanding mortgage of $1.4 million, with the remainder used to repay debt owed to Galaxy Digital Holdings, Ltd.
On July 31, 2024, the Company raised $8.4 million of gross proceeds for 57.8 million shares and 57.8 million warrants through a private share placement with an institutional investor.
On December 2, 2024 the Company raised $5.3 million of gross proceeds via a subscription of 76,900,000 of its ordinary shares by an institution. The net proceeds were used to support strategic plans and working capital needs.
Subsequent to December 31, 2024, the Company sold approximately 8,000 of its mining machines for proceeds of approximately $2.0 million.
At any time and from time to time, we may repay or redeem our outstanding debt, including purchases of our outstanding bonds in the open market, through privately negotiated transactions or a combination thereof, in each case using cash and cash equivalents, cash from our short-term investments, cash from operating activities, proceeds from the issuance of debt or equity or proceeds from asset divestitures. Any repayment or redemption of our debt will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. In connection with such repurchases or redemptions, we may incur cash and non-cash charges, which could be material in the period in which they are incurred.
The following table summarizes our contractual obligations and other commitments (in thousands) as of December 31, 2024, and the years in which these obligations are due:

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