Company: ARBK
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001654954-25-011205
Chunk: 1

Company: Argo Blockchain Plc
Filing Date: 2025-09-30
Form: 6-K
Chunk 1
---
 the Company entered into and announced a Restructuring Support Agreement ("RSA") with Growler Mining, LLC n/k/a Growler Mining Tuscaloosa, LLC ("Growler") which provides for implementation of a recapitalization of Argo's financial indebtedness to be sanctioned by the High Court of England and Wales under Part 26A of the UK Companies Act 2006 "(Recapitalization Plan").

● Net loss was $8.1 million for H1 2025, compared to a net loss of $38 million in H1 2024. Adjusted EBITDA was ($2.8) million for H1 2025 compared to $5.7 million in H1 2024.

● The Company ended June 2025 with $1.7 million of cash and 2 Bitcoin equivalent.

#### Management Commentary
Justin Nolan, CEO at Argo said: "Lower H1 2025 results reflect the impact of machine refurbishment and relocation, but with the RSA and the Recapitalization Plan Argo is pursuing with Growler, the Company expects to strengthen its foundations in order to position itself to capture future opportunities."

#### Non-IFRS Measures
The following table shows a reconciliation of mining margin percentage to gross margin, the most directly comparable IFRS measure, for the six month periods ended 30 June 2025 and 30 June 2024.

|                                     | Period ended | Period ended |
|                                     | 30 June 2025 | 30 June 2024 |
|                                     |   -unaudited |   -unaudited |
|                                     |        $'000 |        $'000 |
| Gross margin                        |         -356 |        1,792 |
| Gross margin percentage             |          -6% |           6% |
| Depreciation                        
 of mining equipment                 |        1,509 |        9,667 |
| Change                              
 in fair value of digital currencies |            - |           27 |
| Mining margin                       |        1,153 |       11,486 |
| Mining margin percentage            |          18% |          39% |

The following table shows a reconciliation of Adjusted EBITDA to net (loss) / income, the most directly comparable IFRS measure, for the six-month periods ended 30 June 2025 and 30 June 2024.

|                                  | Period ended | Period ended |
|                                  | 30 June 2025 |