Company: ARBK
Filing Date: 2025-05-09
Form Type: 6-K
Source: 0001654954-25-005344
Chunk: 77

Company: Argo Blockchain Plc
Filing Date: 2025-05-09
Form: 6-K
Chunk 77
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 to the valuation at which the Group invested. The asset’s value will be adjusted to reflect this revised valuation; or

●

An independently prepared valuation report exists for the investee within close proximity to the reporting date.

5.

INVESTMENT IN SUBSIDIARIES AND LOSS ON SALE OF SUBSIDIARY

Company

Details of the Company’s subsidiaries at 31 December 2024 are as follows:

| Name                 
 of Undertaking       | Country          
 of Incorporation | Ownership 
 Interest  
 (%)       | Voting         
 Power Held (%) | Nature      
 of Business |
| Argo                 
 Innovation Labs Inc. | Canada           | 100%      | 100%           | ***         |
| 9377-2556 Quebec     
 Inc.                 | Canada           | 100%      | 100%           | **          |
| Argo                 
 Holdings US Inc.     | USA              | 100%      | 100%           | ****        |
| Argo                 
 Operating US LLC     | USA              | 100%      | 100%           | *           |

*The provision of cryptocurrency mining services

** The provision of cryptocurrency mining sites

*** Converted from the provision of cryptocurrency mining services to cost centre in 2023

**** Holding company

| Investment in subsidiaries |    2024 |    2023 |
|                            |   $’000 |   $’000 |
| At January 1               |  43,983 |  65,000 |
| Impairment                 | -32,819 | -21,017 |
| At 31 December             |  11,164 |  43,983 |

Argo Holdings US Inc. was incorporated on November 22, 2023, with a registered office of 1209 Orange Street, Wilmington, Delaware, USA, 19801. The company contributed shares in Argo Innovation Facilities (US) valued at $65m.

Argo Operations US LLC was formed on November 22, 2022, with a registered office of 1209 Orange Street, Wilmington, Delaware, USA, 19801.

Argo Innovation Facilities (US) Inc was incorporated on 25 February 2022 with a registered address of 2028 East Ben White Blvd. Austin, TX 78740. This entity held the Helios facility and real property in Dickens County, Texas.On 21 December 2023, Argo Innovation Facilities (US) Inc. was converted to Galaxy Power LLC. Galaxy Power LLC