Company: ARBK
Filing Date: 2025-04-22
Form Type: 20-F/A
Source: 0001104659-25-037403
Chunk: 50

Company: Argo Blockchain Plc
Filing Date: 2025-04-22
Form: 20-F/A
Chunk 50
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 or more jurisdictions.

F-28

ARGO BLOCKCHAIN PLC

14.INVESTMENT IN SUBSIDIARIES AND LOSS ON SALE OF SUBSIDIARY

Company

Details of the Company’s subsidiaries at 31 December 2023 are as follows:

| ​                         | ​ | ​             | ​ |            ​ | ​ |            ​ | ​ | ​         |
| ​                         |   | Country of    |   |    Ownership |   | Voting Power |   | Nature of |
| Name of Undertaking       | ​ | Incorporation | ​ | Interest (%) | ​ |     Held (%) | ​ | Business  |
| Argo Innovation Labs Inc. |   | Canada        |   |          100 | % |          100 | % | ***       |
| 9377-2556 Quebec Inc.     |   | Canada        |   |          100 | % |          100 | % | **        |
| 9366-5230 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

| ​                          | ​ |       ​ | ​ |       ​ |
| ​                          |   |    2023 |   |    2022 |
| Investment in subsidiaries | ​ |   $’000 | ​ |   $’000 |
| ​                          |   |         |   |         |
| At January 1               |   |  65,000 |   |  15,067 |
| Impairment                 |   | -21,017 |   |       — |
| Additions                  |   |       — |   |  65,000 |
| Disposals                  |   |       — |   | -15,067 |
| At 31 December             |   |  43,983 |   |  65,000 |

Argo Holdings US Inc. was incorporated on November 22, 2023, with a registered office of