Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 40

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4A
Chunk 40
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, loss on sale of subsidiary, foreign exchange, digital assets earned and digital currency revaluations.

Investing Activities

Net cash from investing activities in the year ended December 31, 2024 was $55,067, which was comprised principally of$47.5 million for the sale of intangible assets and $6.9 million for the sale of a subsidiary and investment.

Net cash generated from investing activities in the year ended December 31, 2023 was $50,804, which was comprised principally $51,866 for the sale of intangible assets and $1,152 for the purchase of tangible fixed assets.

Net cash generated from investing activities in the year ended December 31, 2022 was $17,325, which was comprised principally of $114.6 million from the sale of intangible assets, $108 million for the purchase of tangible fixed assets and $12.4 million for the disposal of tangible fixed assets.

Financing Activities

Net cash used in financing activities in the year ended December 31, 2024 was $9,324 and was comprised principally of $21.9 million of proceeds from shares issued and $30.7 million for the payment of debt and interest.

Net cash used in financing activities in the year ended December 31, 2023 was $15,778, which was comprised principally of $14,064 of loan repayments and $10,661 of interest payments, partially offset by $7,518 of proceeds from shares issued.

Net cash generated from financing activities in the year ended December 31, 2022 was $84,177 which was comprised principally of $107 million in loan proceeds partially offset by $22,661 in interest costs.

Table of Contents

Capital Expenditures

Historically, our capital expenditures have consisted primarily of purchasing mining machines and computer equipment and improvements to the mining facilities in which we operate. Our capital expenditures during the year ended December 31, 2020 were principally for purchasing mining machines. Beginning in 2021 and continuing into 2022, in addition to the acquisition of mining machines, our capital expenditures expanded to include acquiring and building mining facilities that we planned to own and operate. Our capital expenditures including mining machine prepayments, net of disposals, were $95.6 million, and $1.1 million in 2022 and 2023, respectively. There was no capital expenditure in 2024.

  Research and development, patents and licenses, etc.  

We have developed and