Company: ARBK
Filing Date: 2025-05-09
Form Type: 6-K
Source: 0001654954-25-005344
Chunk: 4

Company: Argo Blockchain Plc
Filing Date: 2025-05-09
Form: 6-K
Chunk 4
---
70%. The Company will continue to reduce headcount to decrease costs in the first half of 2025.

Despite the Bitcoin halving and the lower hash price realised since then, the Company maintained strong mining margins and its mining margin percentage has remained consistent with 2023. The first quarter of 2025 was a transition quarter for Argo as the Helios machines were refurbished and sent to new locations. We expect that as of 31 May 2025 we will have all of the Helios units either re-hosted or sold.

Growth and strategic partnerships

The strengthened balance sheet and repayment of the Galaxy debt gives Argo more flexibility to pursue strategic opportunities moving forward. Public announcements have been made informing the market of non-binding financing arrangements and we will continue to update the market on our progress. The Company continues to explore opportunities where mining can be paired with stranded or wasted energy. There is tremendous potential for energy generators to utilise mining as a balancing and optimization tool, particularly in the energy transition where limitations currently exist in the ability to store renewable energy.

For 2025, the Company will continue to focus on its three pillars – financial discipline, operational excellence and growth and strategic partnerships. We are excited to have Justin Nolan join Argo as CEO effective March 22, 2025. On behalf of the Board, I would like to thank Tom for his leadership during his tenure as CEO, our management team for their resilience and focus, and to all of our shareholders and stakeholders. We remain committed to optimising our capital structure and driving long-term value for our shareholders.

Matthew Shaw

Chairman of the Board

8 May 2025

### BOARD OF DIRECTORS
Matthew Shaw (Chairman of the Board)

Matthew Shaw has served on our board of directors since July 2019, and he became Chairman of the Board in February 2023. He brings over 25 years of experience as an international banker, corporate adviser, and serial entrepreneur. He has been specializing in the blockchain and cryptocurrency sector since 2017. He is currently Chief Executive Officer of Webslinger Advisors, a specialist web3 advisory and administration firm which provides services to Cayman Foundations/DAOs. He previously co-founded Protos Asset Management, a Swiss company that manages a cryptocurrency fund, and co-founded DeFi Yield Technologies, a DeFi firm acquired by Dispersion Holdings (now AQRU). He is also currently Chief Executive Officer of Blimp Technologies and is also president of a proprietary family investment company. Mr. Shaw holds a B.A