Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 12

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4
Chunk 12
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 S19 Pro, S19J Pro, and ePIC BlockMiners, all of which utilize advanced application - specific-integrated-circuits (“ ASICs”) designed specifically for cryptocurrency mining. These ASICs machines deliver significantly greater efficiency and hashing power compared to general-purpose computing hardware. As of December 31, 2024, our active fleet consisted of 26,542 ASICs-based miners, of which approximately 8,000 were sold subsequent to year end.

Sustainability Initiatives

We believe that cryptocurrency miners have a social responsibility to obtain the power required for their operations from clean power sources. From inception, we have concentrated mining operations in areas with plentiful renewable energy resources to support our operations. Our Quebec facilities are primarily powered using renewable hydroelectric power, and we built the Helios facility in the Texas panhandle which is a region where more than 85% of the installed power generation capacity comes from renewable sources, namely from wind and solar.

To our knowledge, we are also the first publicly traded Bitcoin mining company to publish a sustainability report in alignment with the Task Force on Climate-related Financial Disclosures (“ TCFD”) framework.

Table of Contents

Exchanges, Trading Venues and Custodian

As we mine cryptocurrency, we recognize revenue on a daily basis at the market price of the cryptocurrency. We generally sell our mined cryptocurrency assets on a weekly basis in order to fund our operating expenses and for working capital needs. When we sell our cryptocurrency assets for fiat currency, we typically use OTC trading desks and exchanges that are, to the best of our knowledge, appropriately licensed and regulated to provide these services.

Our Bitcoin holdings are held by our Custodian. Additionally, we may also hold immaterial amounts of cryptocurrencies from time to time in our accounts at digital asset trading venues, in assets management platforms, or in hardware wallets maintained by us. Exchange accounts are generally subject to less stringent regulatory supervision than custodians regulated as banks or trust companies and may be subject to more security and operational risks than assets held by our Custodian.

Mining Pools

We currently contribute 100% of our hash power to mining pools. We currently mine Bitcoin through the Luxor Pool. Our decision to contribute hash power to a particular mining pool is based primarily on the net payout per petahash contributed. Fees (and payouts) fluctuate and are typically less than 2% per reward earned, on average. Mining pools are subject to various risks, including but not limited to disruption, down time, and financial solvency. If a