Argo Blockchain Reports Bitcoin Mining Revenue Of $2.3M For August 2024 Down From $3M In July 2024

During the month of August, the Company mined 38 Bitcoin ("BTC"), or 1.2 BTC per day down from 1.5 per day in July 2024. BTC production was down due to more frequent economic curtailments during the month and lower hash price.

Mining revenue in August 2024 amounted to $2.3 million down from $3.0 million in July 2024. Mining margin for August 2024 was below 10%, lower than July as a result of the lower hash price realized in August compared to July, and higher power prices. As at 31 August 2024, the Company held 10 BTC equivalent.

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